Senator Risa Hontiveros on Friday said the P1 billion investment of the Government Service Insurance System in an online gambling platform was not registered with the Securities and Exchange Commission.
“Naku po, napag-alaman na naming una na hindi rehistrado sa SEC ‘yung mga shares na ‘yun sa petsang nagkaroon ng kasunduan at talagang binili ‘yan,” Hontiveros told GMA Integrated News’ Unang Balita in an interview.
(We already found out that those shares were not registered with the SEC on the date the agreement was made and they were actually bought.)
This was in response to the statement of the GSIS explaining its online gambling investment.
The GSIS on Monday said that its social insurance fund “remains strong, secure, and actuarially sound.”
According to GSIS, the social insurance institution for government employees, as of June, has total assets of P1.88 trillion and recorded a Net Operating Income of P76.82 billion, representing a 31% increase compared to the same period last year.
The GSIS said it has consistently enjoyed a five-year average return on investments at 6.75%.’
However, Hontiveros said, “Mismong ang Commission on Audit ang nagbabala na sa ganiyang mga investment ng GSIS, in fact, nanganganib ‘yung actuarial life ng GSIS o ng pension funds ng ating mga government employees.”
(The Commission on Audit itself warned that such investments by GSIS, in fact, endanger the actuarial life of GSIS or the pension funds of our government employees.)
“Higit pa nga d’yan sa actuarial life, ay hindi talaga daw in-exercise ng GSIS ‘yung fiduciary responsibility sa paghawak nila ng pondo ng ating government employees,” she added.
(More than just actuarial life, GSIS has not really exercised its fiduciary responsibility in handling the funds of our government employees.)
Hontiveros said that she is looking forward to GSIS’ cooperation in the planned Senate probe into the issue.
GMA News Online reached out to GSIS for comment and will publish it once available.
The senator first addressed the GSIS’ online gambling investment during her privilege speech on Tuesday.
Meanwhile, Hontiveros said she has filed a bill for a strict regulation of online gambling.
“Pagdating po sa online sugal, naghain po ako ng aking panukalang kontra e-sugal na nagsusulong ng pinakastriktong regulasyon diyan sa online gambling,” she said.
(When it comes to online gambling, I have filed an anti-e-gambling bill that advocates for the strictest regulation of online gambling.)
“Pangunahin na doon sa probisyon na putulin dapat, bawal dapat ‘yung koneksyon sa online gambling ng ating mga e-wallet at superapps dahil nga hindi casino ang ating mga cellphones. At pangunahin ding probisyon bawal ang advertising para sa online gambling whether sa tri-media, sa social media, o sa mga public places,” she added.
(The main provision is that our e-wallets and superapps should not be connected to online gambling or it should be cut off, it should be prohibited because our cellphones are not casinos. And the main provision is that advertising for online gambling is prohibited whether in tri-media, in social media, or in public places.) —AOL, GMA Integrated News
