MANILA, Philippines – The decision of the Securities and Exchange Commission (SEC) to revoke the license of Rappler for allegedly violating the Constitution was “overkill.”
These are the words of prominent corporate lawyer Francis Lim, who is Rappler’s legal counsel for the case. He is also a former president of the Philippine Stock Exchange.
Lim explains why the SEC ruling came as a shock, what rules the commission violated in its decision against Rappler, and its possible impact on business and foreign investors.
He also details Philippine Depositary Receipts, and why the decision sets a dangerous precedent beyond just the issue of press freedom. (READ: FAQs: Rappler’s SEC case) – Rappler.com
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