Senator Roxas condemns Manuel Gaite appointment to SEC

Liberal President Senator Mar Roxas said today President Gloria Macapagal-Arroyo's appointment of Deputy Executive Secretary Manuel Gaite to the Securities and Exchange Commission (SEC) reflects the administration's lack of decency and concern for public opinion of its conduct.
"Wala talagang malasakit ang administrasyon sa iniisip ng publiko (This administration does not care for what the public thinks). At this time that the SEC's reputation is crumbling down, President Arroyo has appointed someone whose own credibility is as low as the one he's replacing," Roxas said.
The Ilonggo senator said Gaite's appointment was also apparently a reward for his role in Malacanang's attempts to silence NBN-ZTE broadband deal whistleblower Rodolfo "Jun" Lozada Jr.
"Anong patunay ni Gaite na meron siyang 'good moral character'? Isa ito sa mga itinakda ng batas na kwalipikasyon para sa mga SEC commissioner (What proof could Gaite show that he has 'good moral character?' This is one of the qualifications set by law for SEC commissioners," he stressed.
The Chairman of the Senate Committee on Commerce and Trade cited Section 4.2 of the Securities Regulation Code on the qualifications for SEC commissioners, which states, "The Commissioners must be of good moral character, of unquestionable integrity, of known probity and patriotism, and with recognized competence..." SEC commissioners are Presidential appointees.
"Kung seryoso talaga ang Pangulo na linisin ang SEC at ibalik ang tiwala ng publiko sa mga institusyon, i-atras niya agad ang appointment ni Gaite at maghanap siya ng taong hindi matatawaran ang integridad (If the President is really serious in cleaning up the SEC and recovering the public trust in our institutions, she should immediately cancel Gaite's appointment and headhunt for a person whose integrity cannot be assailed)," he said.
Gaite had been selected by the President herself to replace former SEC Commissioner Jesus Enrique Martinez, who took flak for allegedly receiving a house and lot and a sports utility vehicle, among others, from Legacy Group owner Celso de los Angeles.



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