SEC orders Rappler closure, says CEO

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THE Securities and Exchange Commission (SEC) ordered the closure of news organization Rappler.

This development was announced by Rappler CEO herself, Maria Ressa, in the East West Center conference in Hawaii, USA.

According to Ressa, the SEC supported its earlier decision to revoke or withdraw the certification it awarded to Rappler Inc. and Rappler Holdings Corporation.

Yesterday, June 28 was supposedly the day the SEC decision came out but was not made public and their lawyers were only advised about it.

Ressa said they will appeal the SEC decision.

It can be recalled that the regulatory body insisted that Rappler violated constitutional and statutory Foreign Equity Restrictions in Mass Media for receiving Philippine Depositary Receipt from Omidyar Network.

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