PEP Coalition

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SEC warns against people “assigned” to facilitate preneed claims

Feb. 25, 2009

MANILA, Philippines – The Securities and Exchange Commission (SEC) on Wednesday warned the public against so-called coordinators “assigned” to facilitate release of claims from preneed companies owned by the Legacy group of companies. 

“No such coordinators…to expedite the release of claims” have been authorized by the commission, the SEC said in a statement. 

The agency issued the warning after it received reports that individuals posing as coordinators have collected fees – amounting to anywhere from P1,000 to P3,000 – from planholders of Legacy Consolidated Plans, Inc., Scholarship Plans Philippines, Inc. and All Asia Plans, Inc. 

After paying fees, the planholders were assured that their claims would be released on March 17, 2009. 

Any assistance extended by the agency to planholders of the Legacy group of companies is free of charge, the SEC said. 

¨No releases from the Trust Funds will be made on March 17, 2009. The commission would want to remind the public that the time it has set for planholders to complete their documents as regards their claims over the Trust Funds of their respective pre-need companies is until the end of March, 2009, and this being the case, it is definite that no release of funds shall be made prior to such date,” the SEC said. 

The agency advised the planholders to deal only with duly designated employees of SEC in the processing of their claims. 

Planholders may proceed directly to the SEC Head Office in EDSA, Mandaluyong City or to any of its Extension Offices, in Baguio City, Legaspi City, Iloilo City, Cebu City, Zamboanga City, Davao City, and Cagayan de Oro City. – GMANews.TV


February 25, 2009 - Posted by | Philippine Newspapers/Web News | ,

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