The Insurance Commission (IC) wants the Bangko Sentral ng Pilipinas (BSP) to investigate the United Coconut Planters Bank (UCPB) for allegedly mishandling the funds of the pre-need firm Provident Plans International Corp.
The regulator wrote a letter to Bangko Sentral Governor Nestor Espenilla Jr. asking for an investigation into the way UCPB has handled the trust fund deposits of Provident Plans, Insurance Commissioner Dennis Funa said in a statement over the weekend.
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