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Securities and Exchange Commission Vs. Interport Resources Corporation, et al. [CONCURRING OPINION, J. TINGA]

SECURITIES AND EXCHANGE COMMISSION, Petitioner, versus INTERPORT RESOURCES CORPORATION, MANUEL S. RECTO, RENE S. VILLARICA, PELAGIO RICALDE, ANTONIO REINA, FRANCISCO ANONUEVO, JOSEPH SY and SANTIAGO TANCHAN, JR. Respondents. [CONCURRING OPINION, J. TINGA]

G.R. No. 135808 | 2008-10-06

CONCURRING OPINION

Tinga, J.:

While I fully concur with the ponencia ably penned by Justice Chico-Nazario, I write separately to highlight the factual and legal background behind the legal proscription against the blight that is "insider trading." This case is the farthest yet this Court has explored the matter, and it is heartening that our decision today affirms the viability for prosecutions against insider trading, an offense that assaults the integrity of our vital securities market. This case bears special significance, even if it does not dwell on the guilt or innocence of petitioners who are charged with insider trading, simply...