SEC placed under DTI

May 27, 2009 1:22 pm 

MANILA, May 27 — President Gloria Macapagal Arroyo has transferred the supervision of the Securities and Exchange Commission (SEC) from the Department of Finance (DoF) to the Department of Trade and Industry (DTI).

In Executive Order (EO) 800, the President said the primary role of the DTI is coordinator, promoter, facilitator and regulatory arm of the Executive Branch in trade, industry and investment.

It may be recalled that the SEC was placed under the administrative supervision of the DoF in Jan. 2000 under Executive Order No. 192.

The President said that in order to facilitate the coordination of trade, industry and investment programs and policies, it is necessary and practical to transfer the administrative supervision of SEC from DoF to DTI.

The Chief Executive also cited her mandate under Administrative Code of 1987 to reorganize the national government under EO 292.

EO 800 was signed last May 14 but the transfer was announced only today by Executive Secretary Eduardo Ermita during his regular Wednesday media in Malacanang. (PNA)

DCT/vcs/OPS/ssc

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