Trade envoy clarifies report

Philippine Ambassador for International Trade and Investments Romela Bengzon clarified yesterday that contrary to reports, she has long ceased to be connected with the College Assurance Plan (CAP).

The report came out in connection with the Senate inquiry on the state of the country’s pre-need industry.

Bengzon made the clarification to refute insinuations made by certain political personalities to the effect that CAP was spared from close scrutiny by the Securities and Exchange Commission (SEC) because the company had influential people, including Bengzon, in its board of directors.

The trade envoy said she was not a director of CAP but was just an assistant corporate secretary and that she was never a part of the decision-making process of the CAP management.

Bengzon is also the managing partner of her own law firm and is a member of the New York Bar. She is active in the practice of corporate law and teaches graduate level classes in three universities.