KIKO TO BARIN: RESIGN NOW, HELP RESTORE
CONFIDENCE IN BUSINESS COMMUNITY

Independent senator and reforms advocate Francis "Kiko" Pangilinan today challenged Securities and Exchange Commission Chairperson Fe Barin to step down and restore confidence in the business community amid the spate of scandals rocking the private sector.

News reports revealed that Barin's husband, Atty. Alejandro Barin, a commissioner of the Energy Regulatory Commission (ERC), may have had some dealings with the now-embattled Legacy Group through a Pajero that the Barins reportedly sold to Legacy Group founder Celso de los Angeles. Although Chairman Barin admits the existence of such a Pajero, she denies being involved in the scandal, saying that her husband had never worked for Legacy Group founder Celso de los Angeles and was not acquainted with him.

"I know that Chairman Barin is a good person," Pangilinan says of Barin's practically-spotless public service record over the past five decades. "However, the allegations of wrongdoing by her husband has further affected the image and reputation of the SEC as an institution."

"However, her resignation should not be construed as an admission of guilt but as a means to spare the SEC from further controversy," the senator adds.