SEC to share data with more gov't agencies

The Securities and Exchange Commission (SEC) is teaming up with more government agencies to boost efforts to combat money laundering and terrorism financing.

- RICHMOND MERCURIO

The SEC yesterday signed nine data sharing agreements (DSAs) with various agencies, granting them access to beneficial ownership information of corporations registered with the commission.

The agreements were signed with the Philippine Drug Enforcement Agency, Insurance Commission, Cagayan Economic Zone Authority, National Bureau of Investigation, Department of Justice, Philippine

Center on Transnational Crime, DeIntelligence partment of Agriculture, Service of the Armed Forces of the Philippines, and the Philippine Economic Zone Authority.

According to the SEC, the partnerships will equip these government agencies with data that may help them uncover illegal activities carried out through the corporate vehicle.