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A.
Registration/Licensing
of Securities
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1.
New and Additional
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1/10
of 1% of maximum aggregate price at which securities are proposed to be
offered plus other fees.
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2.
Petition
for Price Increase
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P
2,500
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3. Petition
for amendment of Registration Statement/ contracts/all applications
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P
2,500
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4. Petition
for release of balance
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P
2,500
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5. Petition for
Cancellation of Registration
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P
2,500
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6.
Petition for Suspension and/or Cancellation of Permit to Sell
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P
2,500
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B.
Dealer/Branch/Salesmen/General
Agent
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1.
New
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1.1
Dealer
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a. Head Office
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P
10,000 + other fees
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b.
Branch Office
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1)
Within Metro Manila
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P
5,000 + other fees
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2)
Outside Metro Manila
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P
2,500 + other fees
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1.2
General Agent
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P
5,000 + other fees
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1.3
Salesman
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a.
Dealer
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P
200/salesman plus other fees
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b.
General Agent
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P
200/salesman plus other fees
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| |
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2.
Renewal
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2.1
Dealer
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a.
Head Office
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P
5,000 plus other fees
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b.
Branch Office
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1)
Within Metro Manila
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P
2,500 plus other fees
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2)
Outside Metro Manila
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P
1,500 plus other fees
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2.2
General Agent
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P
2,500 plus other fees
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2.3
Salesmen
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P200/salesman
plus other fees
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C.
Others
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1.
Approval of Trust Agreement
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P
2,500
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2.
Accreditation of Pre-need Actuaries
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P
1,000
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3.
Certifications
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P
300
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A. For Late Filing / Non-filing of Reports
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1.
Annual Reports |
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1.1
Audited Financial Statements
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P
5,000 Basic fine plus P100/day of delay
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1.2
Actuarial Valuation Report
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P
5,000 Basic fine plus P100/day of delay |
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2.
Other periodic reports
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2.1
Monthly
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P
5,000 Basic fine plus P100/day of delay
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2.2
Quarterly
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P
5,000 Basic fine plus P100/day of delay
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2.3
Others
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P
5,000 Basic fine plus P100/day of delay
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B.
For other violations
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1.
Issuance/Sale of Plans in Excess of Authorized Amount
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1st
violation 2/10 of 1% of the aggregate gross price of the plans sold
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2nd
violation 3/10 of 1% of the aggregate gross price of the plans sold
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3rd
violation 4/10 of 1% of the aggregate gross price of the plans sold
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4th
violation and succeeding violations suspension/ revocation of license
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2.
Overpricing of plans
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1st
violation 2/10 of 1% of the difference between the authorized plan
value
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2nd
violation 3/10 of 1% of the difference between the authorized plan
value
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3rd
violation 4/10 of 1% of the difference between the authorized plan
value
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4th
and succeeding violations suspension or revocation of license
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3.
Unreported sales/collections
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1st
violation 2/10 of 1% of the aggregate gross pre-need price of the
plans sol
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2nd
violation 3/10 of 1% of the aggregate gross pre-need price of the
plans sold
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3rd
violation 4/10 of 1% of the aggregate gross pre-need price of the
plans sold
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4th
and succeeding violations suspension or revocation of license
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4.
Late Trust Fund Deposit
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P
5,000 Basic fine plus P100/day of delay
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5.
Late/Non-Funding of Trust fund Deficiency
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P
5,000 Basic fine plus P100/day of delay
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6.
Unauthorized Opening/Transfer/Closure of Branch
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P2,000
/branch
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7.
Unlicensed salesmen
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Maximum
of P2,000/salesman
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8.
Late Filing of Renewal of the following :
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8.1
Dealers License
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P1,000
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8.2
General Agent
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P1,000
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9.
Execution of Trust Agreement without SEC approval
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Maximum
of P5,000
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10.
Registration Statement with untrue statement of a material fact, or
omitted to state any material fact required to be stated therein or
necessary to make the statements therein not misleading, or refused to
permit any lawful examination into its affairs
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a)
Suspension or revocation of its certificate and permit to offer securities
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b)
Fine of no less than P200 for each day of continuing violation but not
more than P50,000 in aggregate fine
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c)
Disqualification from being an officer, member of the board of directors
or principal stockholder of an issuer whose securities are about to be
registered pursuant to the Pre-need Rules.
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