The Philippine Competition Commission (PCC) and the Securities and Exchange Commission (SEC) have formalized a data-sharing agreement (DSA) aimed at strengthening corporate transparency, market integrity, and competition enforcement in the Philippines.
The agreement, signed by PCC Chairperson Michael Aguinaldo and SEC Chairperson Francisco Lim, streamlines PCC access to corporate information held by the SEC that is relevant to the review of mergers and acquisitions and the investigation of anti-competitive conduct under the Philippine Competition Act.
“This agreement reflects our shared commitment to safeguarding competition and protecting investors,” Aguinaldo said. “Closer coordination with the SEC allows us to ensure markets remain transparent, competitive, and beneficial to both consumers and businesses.”
The DSA builds on the PCC-SEC Memorandum of Agreement signed in 2016, establishing clearer protocols for on-site, online, and off-site access to SEC records, while reinforcing safeguards for data privacy and security in compliance with the Data Privacy Act of 2012.
Under the agreement, both agencies are required to implement strict confidentiality measures and designate Data Protection Officers (DPOs) to oversee compliance. SEC Director Oliver Chato and PCC Executive Director Kenneth Tanate, who witnessed the signing, will serve as the designated DPOs responsible for implementing and monitoring the agreement.
The SEC commits to providing requested corporate data to the PCC within three working days, while the PCC undertakes to use the information strictly for its lawful mandate. The agreement also requires the PCC to notify the SEC of authorized personnel or data processors with access to the shared information.
Clear procedures covering data breach response, data retention, and secure disposal of personal and sensitive information are outlined in the DSA, reinforcing accountability and the protection of data subjects’ rights.
Valid for five years, the agreement highlights the role of inter-agency collaboration in strengthening market oversight, promoting good governance, and enhancing investor confidence, key elements in sustaining fair competition and long-term economic growth.