The Securities Commission finds that its investigation probes initiated into finance companies depicts that many investors are authorized to refunds on their investments.

Investors who did not receive an investment statement prior to making an investment may also be entitled to seek a refund.

The commission noted that Investors could personally take a legal action against both the issuers and the directors in a view to recover their investment.

"The viability of any such action will of course depend upon the financial ability of the issuer or the directors to meet that liability," the commission outlined. "The commission is not able to take action for them. The commission strongly recommends that investors seek legal advice as to their entitlements, and the prospects of enforcing those entitlements".

It is posted that under the Securities Act an issuer is required to have registered a prospectus prior to the securities been allotted to a member of the public.

Also, the issuer must ensure that the related investment statement have been received by the investor before that investor subscribed to the offer.

Moreover, the commission revealed that after the investigation by the commission a referral to the Companies Office's National Enforcement Unit witnessed a successful prosecution of Sharon Day and QED.