THE Securities and Exchange Commission (SEC) has revoked the certificate of incorporation of media entity Rappler allegedly for violating the Philippine Constitution and statutory foreign equity restrictions in mass media.
“[T]he En Banc finds Rappler Inc. and Rappler Holdings Corp., a Mass Media entity and its alter ego, liable for violating the constitutional and statutory Foreign Equity Restrictions in Mass Media, enforceable through laws and rules within the mandate of the Commission,” the SEC said in its decision dated January 11, released only on Monday.
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