(Eagle News) — A commissioner of the Securities and Exchange Commission has resigned for health reasons.
Blas James Viterbo tendered his resignation letter to President Rodrigo Duterte through Finance Secretary Carlos Dominguez III on February 1.
Dominguez said his resignation would become effective upon the President’s acceptance of the same.
Only recently, the SEC revoked Rappler’s certificate of business registration.
In revoking the same, the SEC said that the online news site “acted with deceit in a scheme to justify the grant of control and also financial returns, to foreign investors when they sold the Omidyar Network Philippine Depositary Receipts.”
The SEC cited the foreign equity restriction enshrined in the Philippine Constitution that bars any form of ownership or control by foreign entities of Philippine mass media.
“The foreign restriction is very clear. Anything less than one hundred percent (100%) Filipino control is a violation. Conversely, anything more than exactly zero percent (0%) foreign control is a violation,” the SEC said.