AN ORDER TRANSFERRING THE ADMINISTRATIVE SUPERVISION OF THE SECURITIES AND EXCHANGE COMMISSION FROM THE DEPARTMENT OF FINANCE TO THE DEPARTMENT OF TRADE AND INDUSTRY
the Securities and Exchange Commission (SEC) under the administrative
supervision of the Department of Finance;
WHEREAS, the Department of Trade and Industry is the primary
coordinative, promotive, facilitative, and regulatory arm of the
Executive Branch of government in the area of trade, industry and
investment;
WHEREAS, in order to facilitate coordination of policies and
programs in the field of trade, industry and investment, it is necessary
and practical to transfer the administrative supervision over the
Securities and Exchange Commission from the Department of Finance to the
Department of Trade and Industry;
WHEREAS, the President of the Philippines has the continuing power
to reorganize the National Government as provided by EO No. 292,
otherwise known as the Administrative Code of 1987;
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the
Republic of the Philippines, by virtue of the powers vested in me by
law, do hereby order:
SECTION 1. The Securities and Exchange Commission is
hereby placed under the administrative supervision of the Department of
Trade and Industry.SECTION 2. This Executive Order shall take effect immediately.
Adopted: 14 May 2009
(SGD.) GLORIA M. ARROYO
President of the Philippines
BY THE PRESIDENT:
(SGD.) EDUARDO R. ERMITA
Executive Secretary