A special stockholder's meeting of EuroAxis Bank was set for 27 May 2008 in order for the stockholders to vote on whether they would approve the proposed merger of EuroAxis Bank with Bank of the Philippine Archipelago. In connection therewith, proxies were required to be submitted on or before 17 May 2008 and the proxy validation was slated for 22 May 2008. The proxy validation on 22 May was undertaken by EuroAxis Bank's corporate secretary Atty. Tuscan. Sunshine Holdings Inc., a minority EuroAxis Bank stockholder, filed with the Securities and Exchange Commission an urgent petition seeking to restrain Atty. Tuscan from validating proxies in favor of Boris Reyes and other EuroAxis Bank executives on the ground of fraud and serious irregularities. Does the SEC have jurisdiction over the petition? Explain.