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PIA Press Release
2009/03/12

SEC chair guarantees cooperation on corruption probe

Manila (12 March) -- The Security and Exchange Commission (SEC) is ready to face any investigation against its members.

SEC Chairperson Fe Barin assured the cooperation of the commission.

"Anything that has been submitted to SEC becomes documents available to the public. There is no reason for us not to cooperate in any investigation, any inquiry or even information or research on any matter," said Barin

President Gloria Macapagal-Arroyo has directed the Department of Justice and the Presidential Commission on Graft and Corruption look into the allegations against Commissioner Jesus Martinez

He has been accused of receiving gifts from the Legacy Group by former legacy bank officials and members of PEP coalition.

The beleaguered commissioner, whose term of office ends on March 12, has gone on leave.

Justice Secretary Raul Gonzales has formed a panel that will handle the Martinez Case.

A hold departure order against Martinez has been issued.

As for calls for the resignation of the whole commission, Barin sees no 'reason to come out and resign.'

"We leave our fates to hands of the appointing authority," Barin said. (PIA-MMIO) [top]

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