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                    [ArticleID] => 351536
                    [Title] => 39 firms face suspension for non-payment of SEC fines
                    [Summary] => 



The Securities and Exchange Commission (SEC) has threatened to suspend the registration of securities of 23 issuer companies should they fail to settle the P50,000 fine for non-submission or late filing of financial reports.


These corporations were given 15 days from receipt of the SEC’s assessment letter to settle the penalties accordingly and submit financial reports within the prescribed period.


Also included in the SEC order are 16 pre-need companies, most of whom are encountering financial difficulties.


                    [DatePublished] => 2006-08-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 285862
                    [Title] => SEC mulls charges against owners of Platinum Plans
                    [Summary] => The Securities and Exchange Commission (SEC) is looking into Platinum Plans Inc. for possible filing of criminal charges against its owners and management due to reports of alleged misappropriation of funds that led to the collapse of the pre-need firm.


SEC chairman Fe Barin said the filing by Platinum Plans of a petition for suspension of payments with the court will not stop the commission from investigating the pre-need firm and imposing whatever sanctions as may be necessary.


                    [DatePublished] => 2005-07-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 284832
                    [Title] => 10 pre-need companies on SEC watchlist
                    [Summary] => The Securities and Exchange Commission (SEC) is closely monitoring 10 other pre-need companies that offered open-ended educational plans in light of reports that some of them are experiencing liquidity problems.


Apart from Pacific Plans Inc. and College Assurance Plans, other pre-need firms on the SEC’s watchlist are Platinum Plans, TPG Corp., Prudential Life Plans, PET Plans, Eternal Plans, Eduplan Phils., Legacy Consolidated Plans, Pryce Plans, Trusteeship Plans, and Scholarship Plan Phils.


                    [DatePublished] => 2005-07-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 276240
                    [Title] => SEC trims number of pre-need firms to 33
                    [Summary] => The number of pre-need firms licensed by the Securities and Exchange Commission (SEC) to sell securities to the public has dwindled from 42 last year to 33.


Commission secretary Gerard Lukban said only 33 were able to comply with the requirements imposed by the SEC for renewal of their dealership license while the rest have either stopped selling plans or are still in the process of completing the requirements.


Pre-need firms are required to maintain at least P100 million in capital.


                    [DatePublished] => 2005-05-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

CELESTIAL MEMORIAL PLANS

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    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 351536
                    [Title] => 39 firms face suspension for non-payment of SEC fines
                    [Summary] => 



The Securities and Exchange Commission (SEC) has threatened to suspend the registration of securities of 23 issuer companies should they fail to settle the P50,000 fine for non-submission or late filing of financial reports.


These corporations were given 15 days from receipt of the SEC’s assessment letter to settle the penalties accordingly and submit financial reports within the prescribed period.


Also included in the SEC order are 16 pre-need companies, most of whom are encountering financial difficulties.


                    [DatePublished] => 2006-08-08 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 285862
                    [Title] => SEC mulls charges against owners of Platinum Plans
                    [Summary] => The Securities and Exchange Commission (SEC) is looking into Platinum Plans Inc. for possible filing of criminal charges against its owners and management due to reports of alleged misappropriation of funds that led to the collapse of the pre-need firm.


SEC chairman Fe Barin said the filing by Platinum Plans of a petition for suspension of payments with the court will not stop the commission from investigating the pre-need firm and imposing whatever sanctions as may be necessary.


                    [DatePublished] => 2005-07-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 284832
                    [Title] => 10 pre-need companies on SEC watchlist
                    [Summary] => The Securities and Exchange Commission (SEC) is closely monitoring 10 other pre-need companies that offered open-ended educational plans in light of reports that some of them are experiencing liquidity problems.


Apart from Pacific Plans Inc. and College Assurance Plans, other pre-need firms on the SEC’s watchlist are Platinum Plans, TPG Corp., Prudential Life Plans, PET Plans, Eternal Plans, Eduplan Phils., Legacy Consolidated Plans, Pryce Plans, Trusteeship Plans, and Scholarship Plan Phils.


                    [DatePublished] => 2005-07-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 276240
                    [Title] => SEC trims number of pre-need firms to 33
                    [Summary] => The number of pre-need firms licensed by the Securities and Exchange Commission (SEC) to sell securities to the public has dwindled from 42 last year to 33.


Commission secretary Gerard Lukban said only 33 were able to comply with the requirements imposed by the SEC for renewal of their dealership license while the rest have either stopped selling plans or are still in the process of completing the requirements.


Pre-need firms are required to maintain at least P100 million in capital.


                    [DatePublished] => 2005-05-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

39 firms face suspension for non-payment of SEC fines

By Zinnia B. Dela Peña | August 8, 2006 - 12:00am

The Securities and Exchange Commission (SEC) has threatened to suspend the registration of securities of 23 issuer companies should they fail to settle the P50,000 fine for non-submission or late filing of...

Business

SEC mulls charges against owners of Platinum Plans

By Zinnia B. Dela Peña | July 11, 2005 - 12:00am

The Securities and Exchange Commission (SEC) is looking into Platinum Plans Inc. for possible filing of criminal charges against its owners and management due to reports of alleged misappropriation of funds that...

Business

10 pre-need companies on SEC watchlist

By Zinnia B. Dela Peña | July 4, 2005 - 12:00am

The Securities and Exchange Commission (SEC) is closely monitoring 10 other pre-need companies that offered open-ended educational plans in light of reports that some of them are experiencing liquidity problems. Apart...

Business

SEC trims number of pre-need firms to 33

By Zinnia B. Dela Peña | May 4, 2005 - 12:00am

The number of pre-need firms licensed by the Securities and Exchange Commission (SEC) to sell securities to the public has dwindled from 42 last year to 33. Commission secretary Gerard Lukban said only 33 were able...

Business