Transfer of SEC to Office of the President

Executive Order No. 60 is anchored on Presidential Decree No. 902-A, which requires that the Securities and Exchange Commission (SEC) shall be under the direct general supervision of the President.
Executive Order No. 60 is authorized by Section 31, Chapter 10, Title III, Book III of the Administrative Code of 1987, which grants continuing authority in the President to reorganize the administrative structure of the Office of the President.
Section 2 further cites Section 38, Chapter 7, Title III, Book IV of the Administrative Code as a basis for authorized oversight functions over the SEC.

Executive Order No. 60 directs policy toward encouraging a more active participation of private corporations and enterprises in domestic capital market development.
Executive Order No. 60 directs policy toward the promotion of foreign investments.
Executive Order No. 60 requires improved efficient and effective coordination between the SEC (then under the Department of Finance) and other government offices so SEC can perform its mandated functions consistent with national policy and objectives.

Section 1 transfers the Securities and Exchange Commission from the Department of Finance to the Office of the President.
Section 1 provides that the Office of the President shall exercise direct administrative supervision over the SEC henceforth.
Section 2 provides that the Office of the President shall assume all oversight and other functions—administrative and otherwise—over the SEC.
Section 2 requires that the Office of the President’s oversight is consistent with Presidential Decree No. 902-A and applicable provisions under the Administrative Code.

Section 2 provides that the Office of the President assumes oversight functions over the SEC under the legal framework of Presidential Decree No. 902-A.
Section 2 declares that matters not expressly appealable to the Court of Appeals under present circulars of the Supreme Court of the Philippines are hereby declared appealable to the Office of the President.
Section 2 recognizes that the appealability rule is intended to implement coordination and oversight through the Office of the President for SEC matters within SEC’s administrative sphere.

Section 3 repeals or modifies all orders, issuances, rules and regulations, or parts thereof that are inconsistent with Executive Order No. 60.
Section 4 mandates immediate implementation, with effectivity upon issuance rather than on a later date or after publication requirements.