Transfer of SEC supervision to DOF

The global economic crisis highlighted the need for a stronger and more stable financial system.
Effective implementation of financial policies is essential for economic growth and development.
To ensure greater coordination and an integrated approach to financial sector regulation, it is necessary to restore administrative supervision of the SEC to the DOF.

Executive Order No. 292 (Administrative Code of 1987) grants the President continuing authority to reorganize the Executive Branch.
The President exercised this authority to direct the administrative supervision of the SEC.

Section 1: The SEC is officially placed under the administrative supervision of the Department of Finance.
Section 2: Repeals all laws, executive orders, decrees, rules, and regulations that are contrary or inconsistent with this Executive Order.
Section 3: The Executive Order takes effect immediately upon its publication in a newspaper of general circulation.

The order took effect immediately on April 19, 2011, upon publication.
It was signed by the President of the Philippines and countersigned by the Executive Secretary, reflecting formal adoption.

Administrative supervision refers to the oversight and coordination role exercised by a supervising department over a government agency.
The change aims at enhancing the regulatory environment of the financial sector by placing the SEC under the DOF, which is primarily responsible for financial policies.
This shift underscores the government’s policy to strengthen financial regulation in response to economic challenges.
The repeal clause ensures legal clarity and avoids conflicts with previous conflicting laws or orders.