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                    [ArticleID] => 285160
                    [Title] => SEC files criminal raps vs officers of pre-need firm
                    [Summary] => The Securities and Exchange Commission (SEC) has filed a criminal complaint at the Department of Justice against the officers of pre-need firm Asian Diamond Plans Inc. for their fraudulent and manipulative practices in violation of several provisions of the Securities Regulation Code and the Revised Penal Code.


In its complaint, the SEC said Asian Diamond resorted to a series of misrepresentations to make it appear that it has complied with rules on the registration and sale of pre-need plans, including the minimum paid-up capital of P100 million.


                    [DatePublished] => 2005-07-06 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
                (
                    [ArticleID] => 229542
                    [Title] => SEC dangles Asian Diamond Plans as acquisition target for pre-need firms
                    [Summary] => The Securities and Exchange Commission (SEC) is encouraging pre-need firms with plans to further expand operations to consider the buy-out of cash-strapped Asian Diamond Plans Inc.


Emil Aquino, head of the SEC’s Non-Traditional Securities Department, said he would sit down with members of the Federation of Pre-need Plan Companies Inc. next week to discuss the possibility of  taking over the operations of Asian Diamond, which has been hard pressed to meet the SEC’s minimum paid-up capital requirement.


                    [DatePublished] => 2003-11-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 220086
                    [Title] => SEC reimposes moratorium on new pre-need companies
                    [Summary] => The Securities and Exchange Commission (SEC) has reimposed a moratorium on the establishment of new pre-need companies unless the new firm will take over the operations of an existing pre-need company.


Emil Aquino, head of the SEC’s Non-Traditional Securities Department, said the moratorium does not apply to companies that will acquire the shares and/or the assets and liabilities of existing pre-need companies.


                    [DatePublished] => 2003-09-10 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 209400
                    [Title] => 3 pre-need firms fail to renew license due to fund deficiencies
                    [Summary] => To ensure the protection of the investing public, the Securities and Exchange Commission (SEC) withheld the renewal of the dealership licenses of three pre-need firms with trust fund or capital deficiencies.


These companies are Celestial Memorial Life Plan Inc., Pension and Retirement Plan Corp. (PRP), and Asian Diamond Plans Inc.


The SEC said the firms were having difficulty complying with the minimum paid-up capital requirement of P50 million for pre-need plan firms.


                    [DatePublished] => 2003-06-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 171272
                    [Title] => New foreign group eyes local pre-need industry
                    [Summary] => Amid problems plaguing the pre-need industry, a Singaporean-American group has signified interest in entering the Philippine pre-need market to take advantage of the growing awareness by the public of the financial benefits of the product.  


Emil Aquino, head of the Securities and Exchange Commission’s Non-traditional Securities Department, said the Singaporean-American group will buy out cash-strapped pre-need firm Asian Diamond Plans Inc. of businessman Damaso Magbual.


                    [DatePublished] => 2002-08-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
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)

ASIAN DIAMOND PLANS INC

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                    [ArticleID] => 285160
                    [Title] => SEC files criminal raps vs officers of pre-need firm
                    [Summary] => The Securities and Exchange Commission (SEC) has filed a criminal complaint at the Department of Justice against the officers of pre-need firm Asian Diamond Plans Inc. for their fraudulent and manipulative practices in violation of several provisions of the Securities Regulation Code and the Revised Penal Code.


In its complaint, the SEC said Asian Diamond resorted to a series of misrepresentations to make it appear that it has complied with rules on the registration and sale of pre-need plans, including the minimum paid-up capital of P100 million.


                    [DatePublished] => 2005-07-06 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 229542
                    [Title] => SEC dangles Asian Diamond Plans as acquisition target for pre-need firms
                    [Summary] => The Securities and Exchange Commission (SEC) is encouraging pre-need firms with plans to further expand operations to consider the buy-out of cash-strapped Asian Diamond Plans Inc.


Emil Aquino, head of the SEC’s Non-Traditional Securities Department, said he would sit down with members of the Federation of Pre-need Plan Companies Inc. next week to discuss the possibility of  taking over the operations of Asian Diamond, which has been hard pressed to meet the SEC’s minimum paid-up capital requirement.


                    [DatePublished] => 2003-11-28 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 220086
                    [Title] => SEC reimposes moratorium on new pre-need companies
                    [Summary] => The Securities and Exchange Commission (SEC) has reimposed a moratorium on the establishment of new pre-need companies unless the new firm will take over the operations of an existing pre-need company.


Emil Aquino, head of the SEC’s Non-Traditional Securities Department, said the moratorium does not apply to companies that will acquire the shares and/or the assets and liabilities of existing pre-need companies.


                    [DatePublished] => 2003-09-10 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 209400
                    [Title] => 3 pre-need firms fail to renew license due to fund deficiencies
                    [Summary] => To ensure the protection of the investing public, the Securities and Exchange Commission (SEC) withheld the renewal of the dealership licenses of three pre-need firms with trust fund or capital deficiencies.


These companies are Celestial Memorial Life Plan Inc., Pension and Retirement Plan Corp. (PRP), and Asian Diamond Plans Inc.


The SEC said the firms were having difficulty complying with the minimum paid-up capital requirement of P50 million for pre-need plan firms.


                    [DatePublished] => 2003-06-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 171272
                    [Title] => New foreign group eyes local pre-need industry
                    [Summary] => Amid problems plaguing the pre-need industry, a Singaporean-American group has signified interest in entering the Philippine pre-need market to take advantage of the growing awareness by the public of the financial benefits of the product.  


Emil Aquino, head of the Securities and Exchange Commission’s Non-traditional Securities Department, said the Singaporean-American group will buy out cash-strapped pre-need firm Asian Diamond Plans Inc. of businessman Damaso Magbual.


                    [DatePublished] => 2002-08-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

SEC files criminal raps vs officers of pre-need firm

By Zinnia B. Dela Peña | July 6, 2005 - 12:00am

The Securities and Exchange Commission (SEC) has filed a criminal complaint at the Department of Justice against the officers of pre-need firm Asian Diamond Plans Inc. for their fraudulent and manipulative practices...

Business

SEC dangles Asian Diamond Plans as acquisition target for pre-need firms

By Zinnia B. Dela Peña | November 28, 2003 - 12:00am

The Securities and Exchange Commission (SEC) is encouraging pre-need firms with plans to further expand operations to consider the buy-out of cash-strapped Asian Diamond Plans Inc. Emil Aquino, head of the SEC’s...

Business

SEC reimposes moratorium on new pre-need companies

By Zinnia B. Dela Peña | September 10, 2003 - 12:00am

The Securities and Exchange Commission (SEC) has reimposed a moratorium on the establishment of new pre-need companies unless the new firm will take over the operations of an existing pre-need company. Emil Aquino,...

Business

3 pre-need firms fail to renew license due to fund deficiencies

By Zinnia B. Dela Peña | June 9, 2003 - 12:00am

To ensure the protection of the investing public, the Securities and Exchange Commission (SEC) withheld the renewal of the dealership licenses of three pre-need firms with trust fund or capital deficiencies. These...

Business

New foreign group eyes local pre-need industry

By Zinnia B. Dela Peña | August 8, 2002 - 12:00am

Amid problems plaguing the pre-need industry, a Singaporean-American group has signified interest in entering the Philippine pre-need market to take advantage of the growing awareness by the public of the financial...

Business