November 15, 2007
SEC INTERPRETATIVE BULLETIN
| TO | : | All Pre-Need Corporations and Entities Authorized to Engage in Trust Operations and Act as Trustee for Pre-Need Corporations |
| RE | : | Section 11 of SEC Memorandum Circular No. 4, Series of 2007 [Guidelines on the Management of the Trust Fund of Pre-Need Corporations] |
Consistent with the objectives of SEC Memorandum Circular No. 4, series of 2007, the following guidelines shall be observed in the implementation of paragraph 1 of Section 11 (Time of Making Deposits to the Trust Fund) of the said memorandum: AcHCED
1. The "three-day period" within which to make the semi-monthly deposits shall be counted from the date the amount due to the Trust Fund has been determined, and which determination shall be completed within a period of not more than seven (7) calendar days from the end of the first and second half of each month respectively;
2. A "monthly reconciliation report" of the amounts determined as due to the Trust Fund shall be submitted by the Pre-Need Corporation to the SEC within twenty (20) calendar days from the...
