Array
(
    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 442284
                    [Title] => SEC gives pre-need firms 2-month extension to build up their capital
                    [Summary] => 
MANILA, Philippines - The Securities and Exchange Commission has extended for two months, or until April 15, the deadline for pre-need firms to submit their capital build-up program.
                    [DatePublished] => 2009-02-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 279810
                    [Title] => Lawmaker blames SEC for downfall of pre-need firms
                    [Summary] => Rep. Harlin Abayon has blamed the new rules being implemented by the Securities and Exchange Commission (SEC) to compute the actuarial reserve liability (ARL) for the downfall of several pre-need firms.


                    [DatePublished] => 2005-05-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 247276
                    [Title] => SEC sets probe on investment solicitations of HMO firm
                    [Summary] => The Securities and Exchange Commission (SEC) has asked the Department of Health to look into the investment solicitation activities being made by Caritas Health Shield Inc., a health maintenance organization (HMO).


In a letter to Health Secretary Manuel Dayrit, SEC Chairman Lilia R. Bautista said the commission has received numerous queries from private individuals whether Caritas is licensed to solicit investments from the public.  


                    [DatePublished] => 2004-04-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 247153
                    [Title] => SEC drafting guidelines  on pre-need advertising
                    [Summary] => The Securities and Exchange Commission (SEC) is drafting advertising guidelines for pre-need companies to ensure the delivery of services promised to their clients.


Emil Aquino, head of the SEC’s Non-Traditional Securities Department, said the guidelines are intended to ensure that pre-need plan firms have a common rule of action compatible with the aims and purposes for which the pre-need industry has signified to achieve.


Aquino said the guidelines will be out by the first week of May this year.


                    [DatePublished] => 2004-04-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 209786
                    [Title] => Pre-need firms to tap First Metro for liquidity fund
                    [Summary] => The Philippine Federation of Pre-need Plan Companies has tapped First Metro Investment Corp., – the investment banking arm of Metropolitan Bank and Trust Co – as financial advisor for its planned liquidity fund to address the financial problems of  its members.


First Metro was tasked with raising funds from multilateral agencies for the proposed liquidity fund.


The creation of the liquidity fund is in response to the government’s call for the adoption of more safety nets for the protection of the investing public.


                    [DatePublished] => 2003-06-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 197481
                    [Title] => Pre-need firms prefer IC as supervising agency
                    [Summary] => The Federation of Philippine Pre-need Plan Companies (PFPPCI) believes that the industry would be better off with the Insurance Commission, which is known for its no non-sense approach in getting things done.


PFPPCI president Juan Miguel Vazquez said the transfer of the pre-need sector’s supervision from the Securities and Exchange Commission to the IC, would be a good move because of the latter’s experience in overseeing insurance plans.


                    [DatePublished] => 2003-03-03 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 194478
                    [Title] => Pre-need firms allot P5-B for guaranty fund
                    [Summary] => The Philippine Federation of Pre-need Plan Companies is allotting P5 billion for the creation of a guaranty and liquidity fund to answer for planholders’ claims in case a pre-need plan firm runs into financial difficulty.


Francisco Colayco chairman of The Professional Group, said the Federation has agreed to shell out 10 percent of its total trust fund for its planholders’ protection fund. As of end-December last year, the industry had a total trust fund of P44 billion.


                    [DatePublished] => 2003-02-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [7] => Array
                (
                    [ArticleID] => 185877
                    [Title] => SEC supports Pre-need Code
                    [Summary] => The Securities and Exchange Commission said it fully supports the Pre-need Code being proposed in Congress to further safeguard the interest of pre-need planholders.


"We welcome it because it gives regulators some flexibility," SEC Chairman Lilia R. Bautista said. She added the SEC is amenable to the proposal increasing the amount to be deposited in trust funds to 65 percent of all collections of pre-need firms from the existing 51 percent.


                    [DatePublished] => 2002-11-29 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 175316
                    [Title] => Chinese firm taking control of Primeplan
                    [Summary] => A Chinese firm is taking control of pre-need company Primeplan International Corp. through the infusion of fresh capital to cover the local company’s paid-up capital deficiency.


Emil Aquino, head of the non-traditional department of the Securities and Exchange Commission, said Chinese firm Brighsun will inject the badly-needed capital to enable Primeplan to meet the minimum paid-up capital requirement of P50 million.


Primeplan was given until the end of August to settle its P14.8-million capital deficiency or it faces suspension of its license.


                    [DatePublished] => 2002-09-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [9] => Array
                (
                    [ArticleID] => 174143
                    [Title] => Banks decide where  to invest P37-billion  pre-need trust funds
                    [Summary] => Officials of big banks told the Senate the other day they make independent decisions where and when to invest the trust funds, now totaling P37 billion they hold for their pre-need company clients.


Executives of Bank of the Philippine Islands, Metrobank, and Allied Bank told a Senate hearing that their clients cannot dictate upon them although some may give suggestions that the banks are free to adopt or ignore.


                    [DatePublished] => 2002-08-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

PLAN COMPANIES

Array
(
    [results] => Array
        (
            [0] => Array
                (
                    [ArticleID] => 442284
                    [Title] => SEC gives pre-need firms 2-month extension to build up their capital
                    [Summary] => 
MANILA, Philippines - The Securities and Exchange Commission has extended for two months, or until April 15, the deadline for pre-need firms to submit their capital build-up program.
                    [DatePublished] => 2009-02-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 279810
                    [Title] => Lawmaker blames SEC for downfall of pre-need firms
                    [Summary] => Rep. Harlin Abayon has blamed the new rules being implemented by the Securities and Exchange Commission (SEC) to compute the actuarial reserve liability (ARL) for the downfall of several pre-need firms.


                    [DatePublished] => 2005-05-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 247276
                    [Title] => SEC sets probe on investment solicitations of HMO firm
                    [Summary] => The Securities and Exchange Commission (SEC) has asked the Department of Health to look into the investment solicitation activities being made by Caritas Health Shield Inc., a health maintenance organization (HMO).


In a letter to Health Secretary Manuel Dayrit, SEC Chairman Lilia R. Bautista said the commission has received numerous queries from private individuals whether Caritas is licensed to solicit investments from the public.  


                    [DatePublished] => 2004-04-23 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 247153
                    [Title] => SEC drafting guidelines  on pre-need advertising
                    [Summary] => The Securities and Exchange Commission (SEC) is drafting advertising guidelines for pre-need companies to ensure the delivery of services promised to their clients.


Emil Aquino, head of the SEC’s Non-Traditional Securities Department, said the guidelines are intended to ensure that pre-need plan firms have a common rule of action compatible with the aims and purposes for which the pre-need industry has signified to achieve.


Aquino said the guidelines will be out by the first week of May this year.


                    [DatePublished] => 2004-04-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [4] => Array
                (
                    [ArticleID] => 209786
                    [Title] => Pre-need firms to tap First Metro for liquidity fund
                    [Summary] => The Philippine Federation of Pre-need Plan Companies has tapped First Metro Investment Corp., – the investment banking arm of Metropolitan Bank and Trust Co – as financial advisor for its planned liquidity fund to address the financial problems of  its members.


First Metro was tasked with raising funds from multilateral agencies for the proposed liquidity fund.


The creation of the liquidity fund is in response to the government’s call for the adoption of more safety nets for the protection of the investing public.


                    [DatePublished] => 2003-06-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [5] => Array
                (
                    [ArticleID] => 197481
                    [Title] => Pre-need firms prefer IC as supervising agency
                    [Summary] => The Federation of Philippine Pre-need Plan Companies (PFPPCI) believes that the industry would be better off with the Insurance Commission, which is known for its no non-sense approach in getting things done.


PFPPCI president Juan Miguel Vazquez said the transfer of the pre-need sector’s supervision from the Securities and Exchange Commission to the IC, would be a good move because of the latter’s experience in overseeing insurance plans.


                    [DatePublished] => 2003-03-03 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [6] => Array
                (
                    [ArticleID] => 194478
                    [Title] => Pre-need firms allot P5-B for guaranty fund
                    [Summary] => The Philippine Federation of Pre-need Plan Companies is allotting P5 billion for the creation of a guaranty and liquidity fund to answer for planholders’ claims in case a pre-need plan firm runs into financial difficulty.


Francisco Colayco chairman of The Professional Group, said the Federation has agreed to shell out 10 percent of its total trust fund for its planholders’ protection fund. As of end-December last year, the industry had a total trust fund of P44 billion.


                    [DatePublished] => 2003-02-07 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [7] => Array
                (
                    [ArticleID] => 185877
                    [Title] => SEC supports Pre-need Code
                    [Summary] => The Securities and Exchange Commission said it fully supports the Pre-need Code being proposed in Congress to further safeguard the interest of pre-need planholders.


"We welcome it because it gives regulators some flexibility," SEC Chairman Lilia R. Bautista said. She added the SEC is amenable to the proposal increasing the amount to be deposited in trust funds to 65 percent of all collections of pre-need firms from the existing 51 percent.


                    [DatePublished] => 2002-11-29 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [8] => Array
                (
                    [ArticleID] => 175316
                    [Title] => Chinese firm taking control of Primeplan
                    [Summary] => A Chinese firm is taking control of pre-need company Primeplan International Corp. through the infusion of fresh capital to cover the local company’s paid-up capital deficiency.


Emil Aquino, head of the non-traditional department of the Securities and Exchange Commission, said Chinese firm Brighsun will inject the badly-needed capital to enable Primeplan to meet the minimum paid-up capital requirement of P50 million.


Primeplan was given until the end of August to settle its P14.8-million capital deficiency or it faces suspension of its license.


                    [DatePublished] => 2002-09-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [9] => Array
                (
                    [ArticleID] => 174143
                    [Title] => Banks decide where  to invest P37-billion  pre-need trust funds
                    [Summary] => Officials of big banks told the Senate the other day they make independent decisions where and when to invest the trust funds, now totaling P37 billion they hold for their pre-need company clients.


Executives of Bank of the Philippine Islands, Metrobank, and Allied Bank told a Senate hearing that their clients cannot dictate upon them although some may give suggestions that the banks are free to adopt or ignore.


                    [DatePublished] => 2002-08-31 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest