A PARTLY-LIST lawmaker has questioned the relevance of the Securities and Exchange Commission (SEC) issue on the registration of the People’s Initiative for Modernization and Reform Action (PIRMA) to the clamor of the people to amend the 1987 Constitution.
1-RIDER Rep. Rodge Gutierrez, a lawyer and member of the House minority bloc, stressed that genuine exercises of sovereignty, such as the people’s initiative (PI), do not necessitate regulatory certifications like those issued by the SEC.
“Just a personal opinion, PI is an exercise on sovereignty. It’s the will of the people,” Gutierrez, a member of the House minority, said in a press conference on Wednesday.
“So it will not necessarily require an SEC certificate. Hindi naman kailangan na meron tayong certificate to go around or so,” he stressed, challenging the notion that sovereignty must be validated through regulatory channels.
“SEC certificates are therefore protection on business. But for you to go around and campaign for genuine change, karapatan po iyan ng tao,” Gutierrez argued.
Gutierrez was reacting to an SEC official’s testimony before the Senate, revealing that PIRMA’s registration had been revoked since 2004.
PIRMA, currently led by businessman Noel Oñate, is one of the groups involved in the people’s initiative.
During the Senate hearing, PIRMA’s legal counsel, Alex Avisado, announced that they are in the process of perfecting PIRMA’s corporate registration with the SEC.
He mentioned that they have recently submitted documents through the SEC’s online portal earlier this month.
