"I am anxious that representative bodies which may have been formed to look after the interests of such investors should be made parties and should be represented either by a member so appointed or by counsel or attorney," Sir Anthony said in his opening address.
"I would urge such bodies, if they exist, to make contact with the Secretary. While the enquiry will make findings and recommendations, it cannot order compensation even if it finds that financial loss has been due to the fault of particular individuals, companies, firms or government bodies," he explained.
Former CL Financial chairman Lawrence Duprey is also listed as one of the parties involved in the commission of enquiry. His powerful legal team includes British QC Andrew Mitchell, Sir Lionel Luckhoo and Rajiv Persad.
The CLICO Policyholders Group will be represented by attorneys Lynette Seebaran-Suite and Terrence Bharath. It is one of 14 parties being represented in the commission of enquiry.
Seebaran-Suite told the commissioner, "We view ourselves as representing the victims in this situation."
Sir Anthony asked whether the HCU has any representative body to speak on behalf of shareholders and depositors. "I would urge the establishment of some sort of representative body for the HCU policyholders, otherwise it would be difficult to see how they would get a fair word in before the enquiry and make their position known."
He added, "So perhaps people would like to think about that and see where we get to, but I would urge that to be done as quickly as possible, seeing that if they are going to be representing the HCU, they should be in on it from the start and be able to participate fully," he said.
Former HCU president Harry Harnarine, through his attorney, Dr Wesley Debideen, said he will be willing to speak on behalf of depositors.
Sir Anthony explained that the commission of enquiry could make the recommendation for criminal charges once sufficient evidence is uncovered.
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