The agreement was signed by PCC Chair Michael Aguinaldo and SEC Chair Francisco Lim, granting the PCC streamlined access to corporate information held by the SEC that is critical to the PCC’s mandate under the Philippine Competition Act.
This includes data relevant to the review of mergers and acquisitions, as well as investigations into potential anti-competitive conduct.
Strengthening inter-agency cooperation
“This agreement represents a shared commitment to safeguard competition and protect investors,” Aguinaldo said.
“By working closely with the SEC, we can help ensure markets remain transparent, competitive, and beneficial to consumers and businesses alike.”
Clear protocols, strong safeguards
The DSA builds on the PCC-SEC memorandum of agreement signed in 2016, setting clearer protocols for on-site, online, and off-site access to SEC records. It also incorporates safeguards aligned with the Data Privacy Act of 2012, requiring strict confidentiality measures and enhanced data security controls.
Both agencies committed to designating data protection officers (DPOs) to oversee compliance and ensure that personal and sensitive corporate data are handled responsibly.
Defined timelines and accountability
Serving as witnesses to the signing, SEC Director Oliver Chato and PCC Executive Director Kenneth Tanate were named as the designated DPOs tasked with implementing and monitoring the agreement.
Under the DSA, the SEC will provide requested corporate data to the PCC within three working days, while the PCC is required to use the information solely for lawful purposes.
The agreement also outlines procedures for data breach management, data retention, and the secure disposal of shared data.
Five-year validity
Valid for five years, the DSA underscores the importance of institutional collaboration in enhancing market oversight, strengthening investor confidence, and promoting fair competition across industries. —Ed: Corrie S. Narisma
