Palace: SEC order vs Rappler is ‘not about infringement on press freedom’
Malacañang on Monday said the decision of the Securities and Exchange Commission (SEC) to revoke online news site Rappler’s license to operate was not an attack on press freedom.
The SEC, in a 29-page decision dated January 11, ruled that Rappler, Inc. and its controlling shareholder Rappler Holdings Corp. were “liable for violating the constitutional and statutory Foreign Equity Restrictions in Mass Media enforceable through rules and laws within the mandate of the Commission.”
“The Constitution sets restrictions on the ownership and management of mass media entities to which all must abide,” Presidential Spokesperson Harry Roque said in a statement.
The Securities and Exchange Commission, Roque said, was mandated among others to regulate the corporate sector.
“The issue at hand is the compliance of 100% Filipino ownership and management of mass media. It is not about infringement on the freedom of the press,” he said.
The Palace official called on Rappler to follow SEC’s ruling.
“No one is above the law. Rappler has to comply,” he said. /je