THE Securities and Exchange Commission (SEC) has reaffirmed its zero-tolerance policy against corruption following the filing of charges against the director of its Butuan extension office, who was earlier arrested in a National Bureau of Investigation (NBI) entrapment operation.
In a statement issued late Thursday, the SEC confirmed the NBI’s report identifying Jason C. Tan as the official arrested in connection with an alleged extortion attempt involving a private corporation.
The commission said it initially refrained from disclosing details of the case out of respect for the ongoing investigation, prosecutorial proceedings and the privacy of Tan’s family.
Tan has been placed under preventive suspension while parallel administrative proceedings are underway, the SEC said.
The regulator also announced the temporary closure of its Butuan Extension Office until further notice as authorities conduct a thorough investigation.
To ensure uninterrupted services, the SEC said stakeholders can continue transacting through its online platforms or visit its extension offices in Cagayan de Oro and Davao.
“The filing of these charges demonstrates the commission’s unwavering commitment to accountability, integrity, and the rule of law,” SEC Chairman Francis Lim said.
“Public office is a public trust, and the SEC will act decisively whenever that trust is violated. No one is above the law, and no one is beyond accountability,” he added.
Lim also appealed to the public to respect the privacy of Tan’s family as legal proceedings move forward.
“At the same time, our commitment to accountability and justice must be matched by our adherence to fairness and human dignity. As the legal proceedings are taking its course, I respectfully ask the public to keep Mr. Tan’s family, who are not parties to any investigation, out of this matter,” he said.
The latest development follows the NBI’s disclosure that Tan was arrested after allegedly attempting to obtain P250,000 from a private corporation in exchange for favorable action on a case.
The NBI has yet to provide further details.
