{"id":45367,"date":"2020-12-11T17:10:17","date_gmt":"2020-12-11T16:10:17","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=45367"},"modified":"2020-12-11T17:10:17","modified_gmt":"2020-12-11T16:10:17","slug":"we-are-not-against-unclaimed-dividends-trust-fund-sec","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/we-are-not-against-unclaimed-dividends-trust-fund-sec\/","title":{"rendered":"We Are Not Against Unclaimed Dividends Trust Fund &#8211; SEC"},"content":{"rendered":"<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The Securities and Exchange Commission has stated that it is not against the proposal by the Federal Government to set up unclaimed dividends and balances trust fund.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">This was disclosed by the Head, Securities and Investments Services (SIS) Department, SEC Mr. Abdulkadir Abbas while making clarifications on the Commission\u2019s presentation at the one (1) day Public Hearing on the Finance Bill, 2020 in Abuja.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He said the Commission is requesting to be allowed to continue to constructively manage the issue of unclaimed dividends for the development of the nation\u2019s capital market.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Dividends are cash rewards that a company gives to its shareholder.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">According to him, the commission is not against the proposal to set up unclaimed dividends and balances trust fund, saying its concerns are with respect to the governance structure of that proposed fund and that is why we are asking for reconsideration. &#8220;We are advocating modifications of the provisions with regards to management and governance of the trust fund to avoid possible harm to the capital market which is still struggling to survive.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He said SEC being the capital market regulator and mandated by the Investments and Securities Act to protect the interest of the investors, should be the one to administer or to manage or to supervise the operations of that fund, that is what it is requesting.<\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission has stated that it is not against the proposal by the Federal Government to set up unclaimed dividends and balances trust fund.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":23145,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[1477],"coauthors":[2391],"class_list":["post-45367","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-unclaimed-dividend"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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