Unauthorized Sale of Pre-Need Plans and Life Insurance by Connectacons, Inc. in Davao City
SEC Advisory • Securities and Exchange Commission • Advisories • Mar 13, 2013
Full text
March 13, 2013 SEC ADVISORY UNAUTHORIZED SALE OF PRE-NEED PLANS AND LIFE INSURANCE BY CONNECTACONS, INC. IN DAVAO CITY The Securities and Exchange Commission (SEC) has received reports that CONNECTACONS, INC. or CONNECT GEMS is engaged in unauthorized sale to the public of pre-need plans and life insurance. The public is informed that while Connectacons, Inc. is registered with SEC, the company, however, is not authorized by its primary purpose to sell pre-need plans and life insurance. Moreover, the company has not been licensed by the Insurance Commission (IC) to sell said products. Further, the public is warned NOT to invest in high yield-high risk investment a promise that is too good to be true. Before investing, make sure that the company offering life insurance and pre-need plans is duly registered with the SEC and licensed to offer pre-need plans and life insurance by IC. You may inquire with the Investor Protection and Surveillance Department of the SEC at telephone number 584-9227 for further information on the matter. aICHEc
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.