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PIA Press Release

SEC 6 attends to pre-need plan holders' complaints

Iloilo City (5 February) -- Securities and Exchange Commission (SEC) 6 Director Russell Ildesa said the agency devoting most of their official hours to personally attend to the complaints of pre-need plan holders affected by the industry mess in Western Visayas.

So far, Ildesa said the SEC regional office has already sent to central office accomplished required documents of 19 plan holders and is processing more for immediate action. The SEC has given pre-need holders until March to file their documents that include contracts, receipts of payments and other terms and conditions.

It can be recalled that President Arroyo has instructed the setting up of assistance desks at the SEC offices to attend to the complaints of victims of pre-need companies.

Earlier, Press Secretary Cerge Remonde said that President Arroyo will herself look into the problem when she returns to the country.

The president will also study the SEC's performance in monitoring and regulating pre-need firms in the country.

Meanwhile, SEC Commissioner Fe Barin said in a Press Conference in Malacanang, that their office has never been negligent on their mandate of regulation and that they have implemented relevant laws concerning the pre-need industry.

Barin said that SEC has not been negligent and the pre-need companies have been trying their best to comply, except for some who may have not been performing well.

She called on the qualified and eligible plan holders to go to assistance desks at SEC offices for their claims to be validated or categorized.

Here in Western Visayas, Dir. Ildesa is also calling on pre-need plan holders affected, to fill up a complaint form and comply with other instructions. (ESS/PIA 6) [top]

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