Does SEC Have Any Criminal Jurisdiction?

Cite as: 21 Ateneo L. J. 35 (1976)
Download Abstract Download Article
This publication contains material that is protected under International and Philippine Copyright Law and Treaties. Any unauthorized reprint or use of this material is prohibited. No part of this online publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system without the express written permission of the author as coursed through the Ateneo Law Journal.


Does SEC Have Any Criminal Jurisdiction

Alejandro F. de Santos, Hernando B. Perez, & Vilma Q. Flores

21 Ateneo L. J. 35 (1976)

Subject(s):        Remedial Law

Keyword(s):     Securities and Exchange Commission

The Article tackles Presidential Decree (P.D.) No. 902-A which reorganized the additional powers granted to the Securities and Exchange Commission (SEC), which were formerly exercised by different government agencies. The said P.D. No. 902-A took effect on 11 March 1976. The Author observes that implicitly, the law granted the SEC absolute jurisdiction and control over all corporations. The Article enumerates the objectives of PD No. 902-A as well as the powers it grants to the SEC. From the reading of these objectives and powers, the Author concludes that there is great weight to support the theory that the SEC was given criminal jurisdiction. Original and exclusive jurisdiction was granted to the SEC to “hear and decide cases involving devices or schemes employed by the board of director or its officers amounting to fraud or misrepresentation.”




More Issues