Orders of the SEC to Revoke the License to Sell of Prudentialife and Permanent Plans Not Yet Posted in SEC Website As of 9:30 A.M. April 29, 2009

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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A Call to the Office of Chairman Fe Barin of the SEC — Reiterating the Urgent Necessity of A Pre-Need Industry Stakeholders' Conference

28 April 2009  

I called up the office of the SEC (Securities and Exchange Commission) Chairman Atty. Fe Barin (5845343) at about 11:40am today and her Secretary, Ms. Vivian Fulgar, answered the telephone. I gave Vivian my contact nos. as well as the URL of this blog.  

I told Vivian directly that I've gone on record as supporting the call of Senator Juan Ponce Enrile for Atty.  Fe Barin to resign as SEC Chairman.  I relayed to her my request to the Chairman to immediately convene a meeting of pre-need company owners, planholders and other stakeholders under the aegis of the SEC.  Vivian listened to what else I had to say with no hint of impatience in her voice. She's a credit to the SEC, I'd say.

She also gave me Chairman Barin's email address:

fbbarin@sec.gov.ph

I'll send a copy of this post to Chairman Barin's inbox and I will contact her office again before the day is over.

Please stay tuned to find out what Chairman Barin's response will be.

Next on the list of options, defending on Chairman Barin's response, a citizens' online petition asking her to resign as SEC Chairman, direct representations with the Senate, Congress and Malacañang.  Unity, vigilance and assertion is the best way to protect planholders' rights.

You may leave your comments here or email me at rollyocampo@yahoo.com

  

UPDATE

28 April 2009 12:54pm Manila time

I've sent the email message to Chairman Fe Barin (please click the image to enlarge):

Please stay  tuned.

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Barin Should Resign! Philip Piccio Should Be Next SEC Chairman

23 April 2009

I just stumbled upon the following April 20 ABS-CBN TV Patrol news video at kyte.tv wherein it now appears that SEC Chairman Fe Barin was simply compelled to disclose the existence of its revocation order of the pre-need license of Prudentialife Plans because of questioning by Senator Mar Roxas. 

Asked what the SEC should do, Philip Piccio, the fighting President of the PEP Coalition blurted out: 

I-reveal!  So that people will know!  For those na mga nagbabayad pa, tumigil na sila ng bayad.  Di ba?  Hindi yung palala pa nang palala o palubog pa sila nang palubog.  

Chairman Fe Barin does not have the interest of millions of  pre-need planholders at heart.  She should resign from her post as SEC Chairman and the other SEC Commissioners should go along with her.  The sooner they go, the better!

Our candidate for next SEC Chairman?  Philip Piccio!  

Go Philip, go!

  

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