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Villafuerte vs. SEC, BSP, etc. [SEPARATE CONCURRING OPINION, LEONEN, J.]

LUIS R. VILLAFUERTE, CARIDAD R. VALDEHUESA, AND NORMA L. LASALA, PETITIONERS,* VS. SECURITIES AND EXCHANGE COMMISSION, BANGKO SENTRAL NG PILIPINAS, SECRETARY OF FINANCE, THE NATIONAL TREASURER, BANKERS ASSOCIATION OF THE PHILIPPINES, PHILIPPINE DEALING & EXCHANGE CORPORATION, PHILIPPINE DEPOSITORY & TRUST CORP., PHILIPPINE SECURITIES SETTLEMENT CORPORATION, PHILIPPINE DEALING SYSTEM HOLDINGS CORPORATION, AND VICENTE B. CASTILLO, RESPONDENTS.

G.R. No. 208379 | 2022-03-29

SEPARATE CONCURRING OPINION

LEONEN, J.:

I agree that the Petition suffers procedural infirmities, meriting its outright dismissal. Petitioners failed to establish their legal standing to institute the action[1] and have raised factual questions which cannot be resolved by this Court.[2]

Nevertheless, the Petition raises important questions surrounding our financial markets which have significant impact on our economy. Thus, we have to understand the impact of the securities market and the legal parameters set by the parties.
 
I

Petitioners mainly contend that the Securities and Exchange Commission cannot regulate the trade of...