15 solons endorse Martinez as next SEC chairman

Fifteen congressmen from Negros, Bohol, Siquijor and Cebu have endorsed Securities and Exchange Commission commissioner Jesus E.G. Martinez as the next chairman of the regulatory body.

The 15 solons, spearheaded by Negros Oriental 3rd district Rep. Herminio G. Teves, said they "strongly endorse" to President Arroyo the appointment of Martinez as the next chairman once the position becomes "vacant soon." SEC Chairman Lilia R. Bautista is expected to retire in the first quarter.

Aside from Teves, chairman of the committee on globalization, the others who endorsed the appointment of Martinez were Jacinto V. Paras, and Emilio C. Macias II of Negros Oriental, Edgar M. Chatto, Robert C. Cajes and Eladio M. Jala of Bohol, Jose R. Gullas, Simeon L. Kintanar Jr., Antonio P. Yapha Jr., Clavel A. Martinez, Joseph "Ace" Durano and Nerissa Corazon Soon-Ruiz of the province of Raul V. del Mar and Antonio V. Cuenco of Cebu City and Orlando L. Fua Jr. of Siquijor.

In the endorsement to President Arroyo, the 15 solons, who crossed party lines in backing the SEC official, said Martinez "serves the SEC with integrity."

They said Martinez’s "expertise in corporate law, his excellent academic background, his leadership in various professional organizations and his anti-corruption advocacies will be instrumental in transforming the SEC into a more dynamic and credible watchdog of corporate malpractices."

"At the same time, his work as a legal adviser in the formation of local and foreign corporation and his skills in corporate mergers and acquisitions, joint venture negotiations and investments, will help strengthen SEC’s role in improving the country’s business environment," the solons added.