SEC witness: No personal knowledge of firms in Duterte SALNs

MANILA, Philippines – Lawyer Gerardo Del Rosario, Director of the Securities and Exchange Commission (SEC) Company Registration and Monitoring Department, testified that he has no personal knowledge of the companies listed in Vice President Sara Duterte’s Statement of Assets, Liabilities, and Net Worth (SALN). Del Rosario made this statement during the 27th day of the impeachment trial of the Vice President. He emphasized that the SEC does not have access to the SALNs of public officials. This implies that while the SEC is responsible for company registrations, it does not directly monitor the personal financial affairs of public servants. This testimony comes amid growing calls for transparency regarding the Vice President's assets and their origins. In the Philippines, the SALN is considered a crucial mechanism for preventing corruption and maintaining public trust. However, the fact that a regulatory body like the SEC may not be aware of the actual status of companies listed in public officials' SALNs raises further questions about the effectiveness of the SALN system and the oversight mechanisms in place to scrutinize the accumulation of wealth by public servants. In Philippine politics, SALNs are vital for holding public officials accountable, but the adequacy of the system for verifying their contents and conducting investigations when necessary remains a constant topic of debate.