SEC Commissioner Jesus Martinez has been in the hot seat recently in the ongoing Philippine Senate inquiry on the state of the pre-need industry in the Philippines, in particular the latest pre-need fiasco which is of course deals with the infamous Celso Delos Angeles and his cash strapped Legacy group of companies. According to news reports, Celso Delos Angeles’ Legacy group allegedly gave cash and bought a million peso house for SEC Commissioner Jesus Martinez. This scandal has rocked the Securities and Exchange Commission and has stirred up public outrage against the regulatory body for its alleged inefficiency and corruption. The "professional heckler" in his blog wrote that the Securities and Exchange Commission (S.E.C) should have been renamed as  “Security in Exchange for Commission.”  Lawyer blogger, the "Warrior lawyer" wrote “Is this why they’re called commissioners? Because they get a piece of the action every time?” Amidst all of this chaos, I cannot help but think … [Read more...]