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Philippine Regulator Cancels License Of News Platform For Violations Of Ownership

The Philippine business watchdog has withdrawn the working license of an online news website that has been in opposition to policies of President Rodrigo Duterte. The platform is arguing that it employed a “deceptive method” to violate limitations on overseas possession of media. The SEC (Securities and Exchange Commission) this week claimed that www.rappler.com (the news website Rappler) had breached foreign equity limitations on media since it traded control to foreign people. This is a move Rappler claimed was unjustified since its 2 foreign sponsors possessed no stakes in the firm.

Philippine Regulator Cancels License Of News Platform For Violations Of Ownership

Armando Pan, the Secretary of SEC, claimed that the January 11, 2017, verdict was, on the other hand, not executory and final. He further claimed that Rappler might carry on operating pending appeal. Journalist groups of Philippine showed outrage at the verdict and summoned media organizations to limit attempts to calm journalists.

Rappler has had an unsteady relation with the management of Duterte, who has communally shown irritation at its posting and claims that it is completely possessed by the people of the U.S. It is the newest opponent or critic of Duterte to be exposed to lawful inspection brought about by the political allies of the president, some actually in response to his often communal outbursts in opposition to his detractors.

Rappler claimed that its filings in 2015 to the SEC made it obvious that foreign people had invested in some of its PDRs (Philippine Depositary Receipts), but did not posses any stakes. It claimed it might appeal, and work as normal. “We will carry on holding power responsible and we will carry on telling the reality,” Rappler’s acting managing editor, Chay Hofilena, claimed to the media. “This has been a long-lasting wave of annoyance since 2017. Now it is out there in the public, we know how to manage it,” he further added.

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