SEC commissioner Viterbo resigns

Blas James Viterbo, a commissioner of the Securities and Exchange (SEC), has resigned from his post on Friday citing "health reasons."

"Com Vit tendered his resignation for health reasons ... He is prioritizing his medical checkup since he has irregular heartbeat," SEC chairperson Teresita Herbosa told GMA News Online.

Viterbo tendered his resignation to President Rodrigo Duterte through Finance Secretary Carlos Dominguez III on February 1, Herbosa said.

The Office of the Executive Secretary confirmed it has received Viterbo's resignation on Thursday.

Dominguez also confirmed to reporters Viterbo's resignation.

His resignation will take effect once the the President has accepted it, Herbosa noted.

Viterbo's resignation came weeks after the corporate regulator ordered to revoke the incorporation papers of Rappler Inc. and Rappler Holdings Corp. for supposedly violating the foreign ownership restrictions on mass media companies.

Asked if Viterbo's resignation has something to do with the SEC decision on Rappler, Herbosa said, "Of course not."

The SEC en banc decision on Jan. 11, 2018 was signed by Herbosa and Commissioners Antonieta Ibe, Ephyro Luis Amatong, and Emilio Aquino.

Viterbo's name was appended with an asterisk and a note that said he "Did not take part" in the decision.

"He did not take part in the discussion and voting and decision," Herbosa said.

Viterbo is a corporate and tax lawyer by profession with a background in management and finance coupled with practical experience in public policy and entrepreneurship, according to his profile on the SEC website.

He was appointed as SEC commissioner on May 20, 2014 and took his oath of office on May 23, 2014. His term will expire on Mar. 11, 2021. —With a report from Trisha Macas/KG/VDS, GMA News