In re Rappler, Inc.

January 11, 2018SP CASE NO. 08-17-001IN RE: RAPPLER, INC. AND RAPPLER HOLDINGS CORPORATIONDECISIONAfter due consideration, the En Banc hereby approves and adopts the findings of the Special Panel 1 in its Investigation Report in toto. On 8 July 2017, this En Banc issued SEC Resolution 437, Series of 2017, under which a Special Panel was created, viz.:[F]or purposes of conducting a formal, in-depth examination of Rappler, Inc. and its parent, Rappler Holdings Corporation, as to possible violations of nationality restrictions on ownership and/or control of Mass Media entities, in relation to the Anti-Dummy Law, as well as possible violations of the Corporation Code, the Securities Regulation Code, and other laws within the Commission's mandate. (Emphasis supplied)The governing laws were specified in the Show Cause Order dated 1 August 2017 as Foreign Equity Restrictions in Mass Media, enshrined in Article XVI, Section 11 (1) of Constitution (in relation to Article II, Section 19 thereof) and enforceable through:•  Section 2 of Presidential Decree 1018, Limiting the Ownership and Management of Mass Media to Citizens of the Philippines...