29 April 2009
I had the chance to talk with SEC Chairman Fe Barin over the telephone yesterday afternoon and one of the things I pointed out to her is the fact that up to the time of our conversation, the SEC has not posted in its website the orders revoking the licenses to sell of Prudentialife and Permanent Plans.
This is clear from this screenshot of the pertinent page of the SEC website that I took less than an hour ago:
please click on the image to enlarge
It's been more than a week since the SEC's announcement that they've ordered revoked the license to sell of Prudentialife and Permanent Plans.
In contrast, SEC orders revoking the license of Legacy GS were posted promptly. Below is a copy of said SEC order which is dated March 13, 2009. It was posted at the SEC website on March 16, 2009, three (3) days after its issuance:
please click on the image to enlarge
Bakit po sa kaso ng Prudentialife at Permanent Plans ay wala pang ipino-post sa website nila ang SEC. Mahigit isang linggo na po!
This is bad. It doesn't help the public one bit especially the poor, confused, uninformed planholders of these pre-need plans and it cuts down further the credibility of the SEC.
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