By Nazario Rodriguez Jr.
Horizon news staff

The Ethics Commission assured that there is no conflict of interest if a senator has accounts and/or loans with the Pacific Savings Bank when it comes to voting on the proposed amendments to the Financial Institutions Act.
In a letter last week (Jan 16) to EC chairperson Mariam U. Sakuma, Sen. Alan Seid asked an advisory opinion regarding the issue.
Seid, who is the chairman of the Senate Committee on Ways and Means and Financial Matters, explained that the request is pursuant to RPPL No. 5-32, Section 10, to determine if a senator with a bank account and/or loan with the PSB has a conflict of interest as defined in section 6 when a voting on amendments in Senate Bill No. 7-25, SD1.
Seid gave the EC until yesterday to act on the matter but the Commission immediately responded to the request on Jan 19.
Earlier on Jan 17, the EC requested the opinion of the Attorney General’s Office, which quote in part the following provision of the law:
"No employee may take, participate in taking or use his or her government position to attempt to influence any official action where it is reasonably foreseeable that the action could have a material financial effect on that employee, or any financial interest of that employee, that is different from the effect on the public generally."
Attorney General Jeffrey L. Beattie told Sakuma that the EC has not provided him with the test of the amendments upon which a vote is sought," so it is difficult to give a definite opinion.
However, Beattie said that based upon his knowledge of the initial draft amendments as submitted by the President, he does not believe there would be any violation because the vote would not have a material financial effect that is different from the effect on the public generally.
Beattie noted that there are over 7,000 deposit customers at the PSB, which he said is a sufficient number in his view to constitute the "public."
"The amendments as I understand them do not change the priority scheme for making distributions to depositors," Beattie wrote to Sakuma.
Beattie said that the fact that a senator may have a deposit account or loan should not create a violation of the conflict laws.
He said that if a senator has some other types of financial interest such as stockholder or board member, other factors might come into play.
Asked who are the senators with bank accounts and/or loans with the PSB, Delegate Kerai Mariur said he could not reveal them as yet.
"We have to maintain the confidentiality between the bank and its depositors," said Mariur, who is the chairman of the House Committee on Ways and Means and Financial Matters.
PSB appointed receiver Kaleb Udui Jr. provided the Committee all the names of depositors and bank records as he testified during a committee hearing on Jan. 12.
Sakuma was not available for comment as of presstime yesterday if such advisory opinion would also apply to HOD members who have accounts with the PSB.