Candidate’s admission of being a placeholder not enough to be declared a nuisance — Comelec 

A CANDIDATE’S admission or inference of being a placeholder for an elective position is not enough grounds for being declared a nuisance, according to Commission on Elections (Comelec) Spokesperson James B. Jimenez.   “A mere declaration to the contrary wouldn’t, in my opinion, be sufficient to overcome the intention to run which is manifested in the […]

IC says facilitation fees not considered as admitted assets

THE Insurance Commission (IC) said prepaid facilitation fees from bancassurance arrangements will not be considered as admitted assets of insurers in their statements of financial condition. Insurance Commissioner Dennis B. Funa issued Circular Letter 2021-07 dated Jan. 28 to clarify that facilitation fees paid in advance by insurance companies to a bank in a bancassurance […]