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(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 …