The Securities and Exchange Commission (SEC) has clarified the reasons behind the recent arrest of actress and businesswoman Neri Miranda. Filbert Flores, Director of the SEC’s Enforcement and Investor Protection Department, provided detailed insights during an interview on Teleradyo Serbisyo.
Director Flores revealed that Miranda’s involvement went beyond endorsing products or services, as she allegedly encouraged investments actively. “She actively encouraged investments,” Flores stated, explaining that such actions can place an individual within the scope of securities laws.
“Depensa na po kasi ‘yung ‘Talent ako. Ako ay tagasabi lang,’” Flores said, addressing common defenses used in similar cases. “Ganito po, kung ang ine-endorse lang naman niya ay kunwari, ’Tay, itong produkto na ito’ o sinasabi na ‘Magpunta kayo diyan, maganda mag makeup ‘yan’. Walang problema ‘yan.”
He further elaborated on the distinction, stating, “Pero kapag sinabi mo: ‘Magandang investment ito dahil kikita kayo ng ganito. Kikita kayo ng 10 percent or something.’ Parka ganun na po, ‘yun na ho, involved na kayo sa buying and selling ng securities. Kailangan rehistrado na kayo.”
Miranda’s arrest over the weekend surprised many, given her reputation as a skilled entrepreneur admired by her followers. Dubbed the “wais na misis” (wise wife), she has long been celebrated for her business acumen and innovative ventures.
The case has become a hot topic, with discussions focusing on the legal responsibilities of public figures endorsing or promoting investment opportunities. Many expressed shock at the sudden development, highlighting Miranda’s otherwise pristine public image.
Former Senator and lawyer Kiko Pangilinan has voiced his support for Miranda and her husband, Chito Miranda. Pangilinan emphasized the importance of ensuring due process and pledged to assist the couple in addressing the allegations.
The SEC has used the case as a platform to remind the public and influencers about their obligations under securities laws. Promoting financial opportunities, especially those promising returns, requires registration and compliance with regulatory standards.
As the legal proceedings unfold, the case underscores the importance of transparency and accountability in promoting investments. It also serves as a cautionary tale for public figures to be mindful of their endorsements and the potential implications of their actions.