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Arroyo orders SEC exec to go on leave

Philippine Daily Inquirer
March 10, 2009

CLARK FIELD, Pampanga – President Gloria Macapagal-Arroyo has ordered Securities and Exchange Commission (SEC) commissioner Jesus Martinez to go on leave to give way to an investigation into the corruption charges against him, Malacañang said.

Arroyo has sent a memorandum to SEC Chairperson Fe Barin for Martinez to go on leave, Executive Secretary Eduardo Ermita told reporters here.

Arroyo also ordered the Securities and Exchange Commission (SEC), and the Presidential Anti-Graft Commission (PAGC) to investigate allegations that Martinez received a house and lot and cash from the pre-need arm of the Legacy Group of Companies, Ermita said.

“The President is very much concerned about this. Kinakailangan magkaroon ng disiplina sa ranggo ng SEC kung talagang nangyari ito [There is a need to discipline the ranks of SEC if this has really happened],” deputy presidential spokesman Anthony Golez said.

But Golez said there was no order for Barin to go on leave.

March 10, 2009 - Posted by | Philippine Newspapers/Web News | , ,

1 Comment »

  1. All of the SEC Commisioners should go on leave. Commissioner Martinez should resign outright!

    The entire SEC should be revamped including the way it does its job. Controls should be put in place to keep the people honest. And a strict two-strike policy should be enforced against offenders so that the watchdogs do not go astray.

    Walang kwenta ang SEC, sayang lang ang pera ng taumbayan!

    If you think hard about it, our legislators have not exercised enough of their oversight powers in the past. Oversight should be implemented in a way that credible private groups and NGOs, even student groups, can participate as an integral part of the process. The more people there are that do the counter-checking and quality checks, the better the output will be.

    We need to do these changes across the board in the entire government bureaucracy, lalo na sa DepEd at sa CHED, sa panahong ito. Palulusutin na naman nila ang mga applications ng private schools for tuition fee increases kahit na hirap na hirap na ang mga magulang. May puso pa ba kayo?! Hindi na kami papayag!

    Comment by rollyocampo | March 10, 2009


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