At the end of the 3rd Capital Market Committee (CMC) meeting recently, the Acting Director-General of the Securities and Exchange Commission (SEC), Mary Uduk, spoke to journalists on how the capital market regulator is grappling with its challenges.
QUES: The issue of unclaimed dividends by investors is growing by the day and constituting a huge burden. What is the Commission doing to tackle this problem?
UDUK: Unclaimed dividends are legacy issues. They happened way back in the past. Right now, one will not get unclaimed dividends from new issues.
Part of the problem of unclaimed dividend has to do with identity management. We are doing all we can to educate the public on it and engaging the various interest groups to be able to get a lot of the information we require.