Securities and Exchange Commission (SEC) cancelled the registration of online news organization Rappler for allegedly violating the Foreign Equity Restriction of the Philippine Constitution. According to Foreign Equity Restriction of the Philippine Constitution, “(t)he ownership and management of mass media shall be limited to citizens of the Philippines, or to corporations, cooperatives or associations, wholly-owned and managed by such citizens.” SEC cites the funding that it received from Omidyar Network and from Marcus Brauchli’s North…