Manuel Gaite formally assumed his post as acting commissioner at the Securities and Exchange Commission today despite questions about his integrity. Gaite was involved in the ZTE scandal last year as the person who supposedly paid P500,000 to Rodolfo "Jun" Lozada to keep the latter from giving his testimony at the senate hearing. Gaite takes over from controversial former SEC commissioner Jesus Martinez, who was dragged as the protector of the pre-need firms under the bankrupt Legacy Group. Unlike Martinez, however, Gaite will not be overseeing the pre-need industry.