Compensation and Benefits of SEC Members
- The Chairman receives an annual salary and transportation and representation allowances equivalent to those of the Presiding Justice of the Court of Appeals.
- Each Associate Commissioner receives corresponding compensation equivalent to that of an Associate Justice of the Court of Appeals.
- Retirement benefits and other privileges are aligned with those granted to the Presiding and Associate Justices of the Court of Appeals.
Administrative Officers of the SEC
- The Commission is supported by a Secretary who holds a rank equivalent to a Department Director.
- The Secretary acts as the recorder and official reporter of SEC proceedings and has the authority to administer oaths.
- The SEC also has an Executive Director responsible for overseeing the implementation of the Commission’s policies, rules, and standards.
- The Executive Director coordinates activities of various operating units and reports directly to the Chairman.
Expanded Powers of the SEC in Enforcement and Judicial Functions
- The SEC is empowered to issue writs of attachment within its jurisdiction to protect parties’ rights, applying relevant Rules of Court provisions.
- It can appoint one or more receivers over properties involved in SEC cases to safeguard the interests of litigants, the investing public, and creditors.
- At any stage of proceedings, the SEC may appoint a management committee or board to manage corporations or partnerships at risk of asset dissipation, loss, or business paralysis.
- The Chairman and Commissioners or their authorized representatives may serve as ex-officio members of such management bodies to protect minority shareholders and public interest.
Organizational Structure of the SEC
- The SEC comprises seven departments, each headed by a director:
- Corporate and Legal
- Examiners and Appraisers
- Brokers and Exchanges
- Money Market Operations
- Securities Investigation and Clearing
- Investments and Research
- Administrative and Finance
- The Commission may create additional departments as necessary to fulfill its functions more effectively.
Repeal and Effectivity
- Any laws, decrees, orders, rules, or regulations inconsistent with the amendments in this decree are repealed, amended, or modified accordingly.
- The decree takes effect immediately upon its promulgation.