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Name: Qatar Living Classifieds
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Author: Qatar Living

http://www.abs-cbnnews.com/business/01/27/09/yasay-says-regulation-flaws...

Yasay says regulation flaws caused pre-need woes:

Former Securities and Exchange Commission (SEC) chairman, Perfecto Yasay Jr. said flaws in regulations caused problems in the pre-need industry.

Yasay told reporters in Ermita, Manila on Tuesday that when he was SEC chairman from 1995 to 2000, the pre-need industry did well and provided Filipinos access to higher education.

He said the problems started when regulators in the pre-need industry sought to parallel it with the accounting and actuarial mechanisms of the insurance industry.

"They want to change the pre-need industry into a totally different animal," Yasay said.

It was during Yasay's seven-year stint in SEC (associate commissioner from 1993 to 1995 and chairman from 1995 to 2000) that the pre-need industry grew rapidly as Filipinos conscious of educational attainments snapped plans sold by over 90 pre-need firms.

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So ano na ang mangyayari sa PLAN nyo?

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