Securities and Exchange Commission

Rule 4.2.2. of the 2015 Implementing Rules and Regulations of Republic Act No. 8799 or the
Securities Regulation Code provides that “The ​Corporate Governance and Finance
Department [of the Securities and Exchange Commission] ​monitors compliance of financing
and lending companies with existing laws, rules and regulations and endorse infractions
thereof to the Enforcement and Investor Protection Department.”

Philippines:

According to my research Securities and Exchange Commission (SEC) is the agency of

the ​Government of the Philippines responsible for regulating the ​securities industry in the
Philippines​. In addition to its regulatory functions, the SEC also maintains the country's ​company
register​. An agency within the Department of Finance​, the SEC is temporarily headquartered at
the Philippine International Convention Center in Pasay City, Metro Manila. It will transfer to a
new site in ​Bonifacio Global City​, Taguig City.

Its major functions include registration of securities, analysis of every registered security,
and the evaluation of the financial condition and operations of applicants for security issues.

The functions of the SEC are defined in Section 5 of the Securities Regulation Code, and include
the following major areas:

● Supervision over all registered business entities in the country, including suspensions
and revocations of their registrations
● Policymaking with regard to the market in securities
● Control over and approval of security registration statements
● Power to investigate violations of securities laws and to impose sanctions for such
violations
● Power to issue ​subpoenas​, punish for ​contempt​, and issue ​cease and desist orders in
furtherance of its law enforcement mission
Other source:
According to my research the U.S. Securities and Exchange Commission (SEC) is an
independent federal government regulatory agency responsible for protecting investors,
maintaining fair and orderly functioning of ​the securities markets​, and facilitating capital
formation. It was created by Congress in 1934 as the first federal regulator of the securities
markets. The SEC promotes full public disclosure, protects ​investors against fraudulent and
manipulative practices in the market, and monitors corporate takeover actions in the United
States. It also approves registration statements for ​bookrunners​ among underwriting firms.

Generally, ​issues of securities offered in interstate commerce, through the mail or on the
Internet, must be registered with the SEC before they can be sold to investors. Financial services
firms such as broker dealers, ​advisory firms and asset managers, as well as their professional
representatives must also register with the SEC to conduct business. In example: they would be
responsible for approving any formal ​bitcoin exchange​.

The SEC consists of five divisions and 24 offices. Their goals are to interpret and take
enforcement actions on securities laws, issue new rules, provide oversight of securities
institutions, and coordinate regulation among different levels of government. The five divisions
and their respective roles are:

● Division of Corporate Finance: ​Ensures investors are provided with material

information (that is, information relevant to a company's financial prospects or stock
price) in order to make informed investment decisions.
● Division of Enforcement: ​In charge of enforcing SEC regulations by investigating cases
and prosecuting civil suits and administrative proceedings.
● Division of Investment Management: ​Regulates investment companies, variable
insurance products, and federally registered investment advisors.
● Division of Economic and Risk Analysis: ​Integrates economics and data analytics into
the core mission of the SEC.
 ● Division of Trading and Markets: ​Establishes and maintains standards for fair, orderly,
and efficient markets.

POWER AND FUNCTIONS

The Commission shall have the powers and functions provided by the Securities
Regulation Code, Presidential Decree No. 902-A, as amended, the Corporation Code, the
Investment Houses Law, the Financing Company Act, and other existing laws.

Under Section 5 of the Securities Regulation Code, Rep. Act. 8799, the Commission shall
have, among others, the following powers and functions:

(a) Have jurisdiction and supervision over all corporations, partnerships or associations who are
the grantees of primary franchises and/or a license or permit issued by the Government;

(b) Formulate policies and recommendations on issues concerning the securities market, advise
Congress and other government agencies on all aspects of the securities market and propose
legislation and amendments thereto;

(c) Approve, reject, suspend, revoke or require amendments to registration statements, and
registration and licensing applications;

(d)​ Regulate, investigate or supervise the activities of persons to ensure compliance;

(e) Supervise, monitor, suspend or take over the activities of exchanges, clearing agencies and
other SROs;

(f) Impose sanctions for the violation of laws and the rules, regulations and orders issued
pursuant thereto;

(g) Prepare, approve, amend or repeal rules, regulations and orders, and issue opinions and
provide guidance on and supervise compliance with such rules, regulations and orders;
(h) Enlist the aid and support of and/or deputize any and all enforcement agencies of the
Government, civil or military as well as any private institution, corporation, firm, association or
person in the implementation of its powers and functions under this Code;

(i)​ Issue cease and desist orders to prevent fraud or injury to the investing public;

(j) Punish for contempt of the Commission, both direct and indirect, in accordance with the
pertinent provisions of and penalties prescribed by the Rules of Court;

(k) Compel the officers of any registered corporation or association to call meetings of
stockholders or members thereof under its supervision;

(l) Issue subpoena duces tecum and summon witnesses to appear in any proceedings of the
Commission and in appropriate cases, order the examination, search and seizure of all
documents, papers, files and records, tax returns, and books of accounts of any entity or person
under investigation as may be necessary for the proper disposition of the cases before it, subject
to the provisions of existing laws;

(m) Suspend, or revoke, after proper notice and hearing the franchise or certificate of registration
of corporations, partnerships or associations, upon any of the grounds provided by law; and

(n) Exercise such other powers as may be provided by law as well as those which may be
implied from, or which are necessary or incidental to the carrying out of, the express powers
granted the Commission to achieve the objectives and purposes of these laws.

Under Section 5.2 of the Securities Regulation Code, the Commission’s jurisdiction over all
cases enumerated under Section 5 of PD 902-A has been transferred to the Courts of general
jurisdiction or the appropriate Regional Trial Court. The Commission shall retain jurisdiction
over pending cases involving intra-corporate disputes submitted for final resolution which should
be resolved within one (1) year from the enactment of the Code. The Commission shall retain
jurisdiction over pending suspension of payments/rehabilitation cases filed as of 30 June 2000
until finally disposed.
 Considering that only Sections 2, 4, and 8 of PD 902-A, as amended, have been expressly
repealed by the Securities Regulation Code, the Commission retains the powers enumerated in
Section 6 of said Decree, unless these are inconsistent with any provision of the Code.