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                    [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] => 
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            [1] => Array
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                    [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
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                    [SectionUrl] => business
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                    [ArticleID] => 192532
                    [Title] => SEC freezes licenses of 2 pre-need firms
                    [Summary] => The Securities and Exchange Commission has suspended the licenses of Pension and Retirement Plans Corp. (PRPC)  and Celestial Memorial Life Plan Inc. for failure to comply with the minimum paid-up capital requirement of P50 million for pre-need plan firms.


The SEC decided not to renew the dealer’s license of the two pre-need firms for this year to ensure the protection of the general public.  This means that these companies can no longer sell new plans and will only be allowed to continue meeting obligations to existing planholders.


                    [DatePublished] => 2003-01-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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CELESTIAL MEMORIAL LIFE PLAN INC

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                    [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
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                )

            [1] => 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
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                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 192532
                    [Title] => SEC freezes licenses of 2 pre-need firms
                    [Summary] => The Securities and Exchange Commission has suspended the licenses of Pension and Retirement Plans Corp. (PRPC)  and Celestial Memorial Life Plan Inc. for failure to comply with the minimum paid-up capital requirement of P50 million for pre-need plan firms.


The SEC decided not to renew the dealer’s license of the two pre-need firms for this year to ensure the protection of the general public.  This means that these companies can no longer sell new plans and will only be allowed to continue meeting obligations to existing planholders.


                    [DatePublished] => 2003-01-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
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                    [URL] => 
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abtest

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

SEC freezes licenses of 2 pre-need firms

By Zinnia B. Dela Peña | January 23, 2003 - 12:00am

The Securities and Exchange Commission has suspended the licenses of Pension and Retirement Plans Corp. (PRPC) and Celestial Memorial Life Plan Inc. for failure to comply with the minimum paid-up capital requirement...

Business