The Philippine Competition Commission (PCC) and the Securities and Exchange Commission (SEC) signed a data sharing agreement (DSA) to strengthen inter-agency cooperation promoting transparency, integrity, and fair competition in the corporate sector.
The agreement streamlines the PCC’s access to corporate information held by the SEC, which is relevant to investigations of mergers, acquisitions and anti-competitive conduct under the Philippine Competition Act. SEC chairperson Francisco Lim and PCC chairperson Michael Aguinaldo signed the agreement.
Aguinaldo said the DSA establishes a shared commitment to safeguarding competition and protecting investors, noting that closer coordination between the two agencies helps ensure transparent and competitive markets that benefit consumers and businesses.
Building on a 2016 memorandum of agreement, the DSA establishes clear protocols for data sharing, including on-site, online, and off-site access to SEC records. It also sets safeguards for data privacy and security in line with the Data Privacy Act of 2012.
Under the DSA, the SEC will provide requested corporate data to the PCC within three working days. The PCC, in turn, committed to use the information strictly for its lawful mandate and to inform the SEC of authorized personnel or data processors handling the shared data.
The agreement also outlines procedures for data breach management, data retention, and secure disposal of personal information.
The agreement is valid for five years and underscores the role of institutional partnerships in strengthening market oversight, fostering investor confidence and promoting fair competition across industries.
