The Philippine Competition Commission (PCC) and the Securities and Exchange Commission (SEC) have signed a data sharing agreement to strengthen cooperation in promoting transparency and fair competition in the corporate sector.
Signed on Monday by PCC chairman Michael Aguinaldo and SEC chairman Francisco E. Lim, the agreement gives the PCC faster access to corporate information held by the SEC to support investigations into mergers, acquisitions, and anti-competitive conduct.
The deal updates a 2016 agreement and sets clear rules for on-site, online, and off-site access to SEC records, with safeguards to protect data privacy under the Data Privacy Act of 2012.
Under the agreement, the SEC will provide requested data within three working days, while the PCC will use the information only for its official mandate. The agreement is valid for five years.
