Finance to push for transfer of pre-need watch from SEC.

(From BusinessWorld (Philippines))

Byline: Felipe F. Salvosa II with Roulee Jane F. Calayag

The Department of Finance will renew its push for reforms in the pre- need sector this year, in particular the long-proposed transfer of regulation under the Insurance Commission from the Securities and Exchange Commission (SEC) to better protect investors, an official bared.

Finance Undersecretary Roberto B. Tan said pre-need liabilities are "actuarial in nature" and are best left under the close watch of the Insurance Commission, to prevent abuses.

Proposals for a "Pre-Need Code" in Congress should include clear guidelines on allowable investments …