Around 97 per cent of the investors' complaints submitted online have been addressed through the securities regulator's Customer Complaints Address Module (CCAM) in the last one year.
The complaints include non-payment of cash dividend, non-disbursement of stock dividends, non-payment of sale proceeds and unauthorised sales of shares.
Besides, the investors also complained about delays in the settlement of share transactions, margin finance and interest, forced selling, and financial losses due to non-transfer of shares.
The Bangladesh Securities and Exchange Commission (BSEC) introduced the CCAM on September 30, 2019.
According to the BSEC data, investors lodged a total of 254 complaints using the CCAM and 246 of them were addressed in one year to February.
The remaining eight complaints are in the process of being resolved.
Using the automated system, CCAM, available on the BSEC website, an investor, irrespective of their geographical locations, can submit complaints and have them addressed.
The securities regulator has brought all possible stakeholders, including bourses and stockbrokers, under the network of the CCAM to facilitate the settlement of the complaints filed by the investors.
The stock exchanges handle the complaints filed against their TREC (Trading Right Entitlement Certificate) holders while the Central Depository Bangladesh Ltd. deals with the complaints filed against the DPs (Depository Participants).
After submission of the complaints, the authority concerned automatically receives them via the market intermediaries such as stock exchanges.
The BSEC receives an alert from the CCAM if a complaint remains unaddressed within the expected timeframe.
Before the introduction of the CCAM, investors had to submit complaints manually and it took several months to one year or above to get them addressed.
The CCAM has reduced the time for addressing the complaints significantly.
For example, average settlement days for each of 246 complaints addressed stood at 32.4.
To lodge a complaint, an investor has to enter the CCAM window on the home page of the BSEC website using BO (beneficiary owner's) account, cell phone number and e-mail address.
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