Securities and Exchange Commission chairman Francis Lim cited “fake news” when he remarked about the supposed trillion-peso wipeout in stock market value due to the corruption controversy, MalacañSecurities and Exchange Commission chairman Francis Lim cited “fake news” when he remarked about the supposed trillion-peso wipeout in stock market value due to the corruption controversy, Malacañang said yesterday, as it claimed that business confidence in the country remains “solid.”ang said yesterday, as it claimed that business confidence in the country remains “solid.”