Beruflich Dokumente
Kultur Dokumente
Facts showed that the power of the Special Panel was limited to
―conducting a formal, in-depth examination‖ of RAPPLER and RHC.
The Special Panel‘s scope of authority was limited to examination as
provided by the copy of SEC Resolution 437 series of 2017 and that
the SEC Rules of Procedure defines an investigation as ―an inquiry or
proceeding by the Operating Department that has authority over the
subject matter to determine if there are sufficient grounds to warrant
the commencement of an administrative sanction. It is crystal clear that the
Special Panel granting its power was acted beyond the scope of its delegated
authority and non observance of the proper action.
Under the Republic Act 8799, known as The Securitiies Regulation Code,
Sec.5.1(M),to wit;
Xxx
5.1 The Commission shall act with transparency and shall have the powers
and functions provided by this Code, Presidential No.902-A,the Corporation
Code, the Investment Houses Law, the Financing Company Act and other
existing laws. Pursuant thereto the Commission shall have , among others, the
following powers and functions:
(m) Suspend, or revoke, after proper notice and hearing the franchise or
certificate of registration of corporations, partnerships or associations, upon
any grounds provided by law.
PURELY PROCEDURAL