Registration and Licensing of Pre-need Plans, Issuers, Its Branches and Salesmen

October 16, 1995SEC-IRD * MEMORANDUM CIRCULAR NO. 01-95RE : Registration and licensing of Pre-need Plans, Issuers, its Branches and SalesmenIn view of the realignment of responsibility areas in SEC departments in order to achieve an efficient delivery of public service, the Commission has approved at its meeting held on October 12, 1995 the designation of the Investment and Research Department, specifically the Investment Analysis and Planning Division, to administer the registration and licensing of pre-need plans, issuers, branches as well as salesmen of pre-need plan companies. Reportorial monitoring shall be undertaken by the Supervision and Monitoring Department (SMD) so that the Quarterly Collection Report, Quarterly Unaudited Financial Statements, Monthly Sales Report, Actuarial Valuation and all other reports required by the Commission shall be submitted to said department. The audit, inspection, and verification of accounts, transactions, and other pertinent reports of the corporation shall be done by the Examiners and Appraisers Department.The operational procedure pertaining to the registration and licensing of pre-need plans, issuers, branches and salesmen of pre-need companies shall follow the same process until...