EXECUTIVE ORDER NO. 60

: The Executive Order transfers the SEC from the Department of Finance to the Office of the President, which shall exercise direct administrative supervision over the SEC.
: It supports a stronger policy of encouraging more active participation of private corporations and enterprises in the development of the domestic capital market and the promotion of foreign investments.
: Presidential Decree No. 902-A mandates that the SEC shall be under the direct general supervision of the President.
: Section 31, Chapter 10, Title III, Book III of the Administrative Code of 1987 grants continuing authority to the President to reorganize the administrative structure of the Office of the President.
: The Office of the President assumes all oversight and administrative functions over the SEC, consistent with provisions of Presidential Decree No. 902-A and other relevant laws.
: Yes, matters not expressly appealable to the Court of Appeals are declared appealable to the Office of the President under this order.
: All inconsistent orders, issuances, rules, and regulations are repealed or modified accordingly.
: The Executive Order took effect immediately upon its signing on January 13, 1999.