The Securities and Exchange Commission (SEC) and the Department of Finance (DOF) have signed a data sharing agreement to support the Philippine Extractive Industries Transparency Initiative (PH-EITI), a government-led body promoting transparency in the management of natural resources.
The deal will grant PH-EITI enhanced access to corporate and beneficial ownership data of companies operating in the extractive sector. This move aims to strengthen accountability, fight corruption, and comply with international standards set by the Extractive Industries Transparency Initiative and the Financial Action Task Force (FATF).
SEC Commissioner Rogelio V. Quevedo said the agreement enables “seamless, secure, and lawful” exchange of information, reinforcing the government’s efforts following the Philippines’ recent removal from FATF’s grey list.
Beneficial ownership disclosure is a key requirement under PH-EITI, ensuring individuals who ultimately control companies—beyond legal ownership—are properly identified.
