The Securities and Exchange Commission (SEC) has revoked the license to operate of online news blog Rappler.
In a 29-page decision dated Jan. 11, the SEC ruled that Rappler, Inc. and Rappler Holdings Corporation were “liable for violating the constitutional and statutory Foreign Equity Restrictions in Mass Media enforceable through rules and laws within the mandate of the Commission.”
As part of its penalties, the SEC has revoked the certificate of incorporation of Rappler.
Rappler has been accused by President Rodrigo Duterte and his supporters of being bias towards the president.
Rappler’s chief executive officer Maria Ressa is a known Duterte critic, including some of its reporters, notably Pia Ranada.
Last year, blogger and Presidential Communications Operations Office (PCOO) Assistant Secretary Mocha Uson also accused the news blog site of fabricating fake news against Duterte.
The news about SEC’s decision to close down Rappler will be a welcome information for die-hard Duterte supporters, as the majority of them have been calling for the closure of the news blog site.
There is no information whether Rappler can appear or not, but people behind Rappler could be in chaos right now.
Okd2.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for website owners to earn advertising fees by advertising and linking to amazon(.com, .co.uk, .ca etc) and any other website that may be affiliated with Amazon Service LLC Associates Program.