The Securities and Exchange Commission (SEC) has asked customers of licensed Asset Management Companies (AMCs) or Fund Managers (FMs) who are dissatisfied with their work to officially report to the SEC for further actions to be taken.

The SEC said in a statement that it is aware that some investors are unable to access their matured investments from some of the AMCs and FMs due to financial challenges.

To that end, the SEC said it has instructed all AMCs/FMs to put in place mechanisms to meet their obligations.

“We are also aware that certain investors are unable to access their matured investments from some of our licensed Asset Management Companies (AMCs) or Fund Managers (FMs) due to some liquidity challenges.

“The Commission has instructed all AMCs/FMs to put in place mechanisms to meet their obligations as they fall due to their clients, consistent with the terms and conditions of the investment contracts signed with them.

“Dissatisfied customers of these AMCs/FMs may lodge written complaints with the Commission. The Commission is engaging with stakeholders on efforts to improve liquidity in the industry,” a statement issued by the Commission on Thursday August 22, 2019, said.

It added : “The Commission has and continues to introduce regulatory measures to help ensure a stable, efficient, transparent and fair marketplace where investors’ funds are protected,”