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Hence, all complaints for any violation of the Code and its
implementing rules and regulations should be filed with the SEC.
Where the complaint is criminal in nature, the SEC shall indorse
the complaint to the DOJ for preliminary investigation and
prosecution as provided in Section 53.1 earlier quoted. We thus
agree with the Court of Appeals that petitioner committed a fatal
procedural lapse when he filed his criminal complaint directly
with the DOJ. Verily, no grave abuse of discretion can be ascribed
to the DOJ in dismissing petitioners complaint.
Criminal Procedure The mandate that all criminal actions,
either commenced by a complaint or information shall be
prosecuted under the direction and control of a public prosecutor,
is founded on the theory that a crime is a breach of the security
and peace of the people at large, an outrage against the very
sovereignty of the State.Section 5, Rule 110 of the 2000 Rules of
Criminal Procedure, as amended, provides that all criminal
actions, commenced by either a complaint or an information, shall
be prosecuted under the direction and control of a public
prosecutor. This mandate is founded on the theory that a crime is
a breach of the security and peace of the people at large, an
outrage against the very sovereignty of the State. It follows that a
representative of the State shall direct and control the
prosecution of the offense. This representative of the State is the
public prosecutor, whom this Court described in the old case of
Suarez v. Platon, 80 Phil. 556 (1940) as: [T]he representative not
of an ordinary party to a controversy, but of a sovereignty whose
obligation to govern impartially is as compelling as its obligation
to govern at all and whose interest, therefore, in a criminal
prosecution is not that it shall win a case, but that justice shall be
done. As such, he is in a peculiar and very definite sense a servant
of the law, the twofold aim of which is that guilt shall not escape
or innocence suffers.
Same Preliminary Investigation Words and Phrases
Probable Cause, Defined A preliminary investigation is
essentially an inquiry to determine whether (a) a crime has been
committed, and, (b) whether there is probable cause that the
accused is guilty thereof.Concomitant with his authority and
power to control the prosecution of criminal offenses, the public
prosecutor is vested with the discretionary power to determine
whether a prima facie case exists or not. This is done through a
preliminary investigation designed to secure
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Rollo, G.R. No. 168380, Vol. I, pp. 4862. Penned by Associate Justice
Id., G.R. No. 170602, Vol. I, pp. 6373. Written by Associate Justice
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elsewhere in this Act, banking institutions other than building and loan
associations may perform the following services:
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adviser,
consultant
or
administrator
of
investment
Now repealed by The General Banking Law of 2000 (Republic Act No.
8791).
5
Batas Pambansa Blg. 178. Now repealed by Republic Act No. 8799
(The Securities Regulation Code), which took effect on July 19. 2000.
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Supra at footnote 3.
except of a class exempt under any of the provisions of Section five hereof
or unless sold in any transaction exempt under any of the provisions of
Section six hereof shall be sold or offered for sale or distribution to the
public within the Philippines unless such securities shall have been
registered and permitted to be sold as hereinafter provided.
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8.1. Securities shall not be sold or offered for sale or distribution within the
Philippines, without a registration statement duly filed with and approved by the
Commission. Prior to such sale, information on the securities, in such form and
with such substance as the Commission may prescribe, shall be made available to
each prospective purchaser.
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80879, March 21, 1988, 159 SCRA 57, 62, citing Pambujan Sur United
Mine Workers v. Samar Mining Co., Inc., 94 Phil. 932 (1954).
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183
306, 310.
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184
SCRA 609.
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G.R. Nos. 15861314, February 22, 2006, 483 SCRA 83, 92.
Glaxosmithkline Philippines, Inc. v. Malik and Ateeque, G.R. No.
166824, August 17, 2006, 499 SCRA 268, 272273, citing Punzalan v. Dela
Pea and Cagara , 434 SCRA 601 (2004).
19
Alcaraz v. Gonzales, G.R. No. 164715, September 20, 2006, 502 SCRA
518, 529, citing Metropolitan Bank and Trust Company v. Tonda, 392
Phil. 797 338 SCRA 254 (2000).
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Soria v. Desierto, G.R. Nos. 15352425, January 31, 2005, 450 SCRA
339. 345, citing Duero v. Court of Appeals, 373 SCRA 11 (2002), Perez v.
Office of the Ombudsman, 429 SCRA 357 (2004).
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o0o
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