PRIVACY NOTICE FOR REGISTRANTS OF CORPORATIONS
(ARTICLES OF INCORPORATION)
1. WHAT PERSONAL INFORMATION WE COLLECT
SEC collects from incorporators, stockholders, members,
directors, trustees, officers, resident agents, notary public, and
their representatives any or combination of the following personal
information: Full name, signature, nationality, complete & specific
residential address, Email address, mobile and fixed line
telephone numbers of contact persons, Professional Regulation
Commission number, roll of attorney number, passport number,
taxpayer information number and other information.
2. IP ADDRESSES
The SEC does not collect information about computer (or
mobile device), including internet protocol address, operating
system and browser type.
3. COOKIES
The SEC does not use cookies to distinguish one user
from other users of the facility.
4. HOW WE COLLECT
For this facility, SEC collects, uses and/or processes
personal information through electronic or automated means.
Subsequently, SEC collects, uses and/or processes personal
information based on submitted paper documents related to
registration and amendments.
5. WHY WE COLLECT INFORMATION
SEC is mandated by the Corporation Code and the
Securities Regulation Code to regulate the corporate sector and
the securities markets. The collected personal information will be
utilized for regulatory purposes pursuant to our statutory
functions to ensure full and timely disclosure of material
information, protect the investors, and minimize if not eliminate
fraudulent or manipulative devices and practices that create
distortion in a free market.
Further, the SEC, as supervising authority, is mandated to
assist the Anti-Money Laundering Council (AMLC) in effectively
implementing the provisions of the Anti-Money Laundering Act,
and to obtain, keep and make accessible information necessary to
detect and prevent money laundering and terrorist financing in
the country.
SEC is also mandated by Executive Order No. 2 (2016) or
the Freedom of Information (FOI) regulation, to provide every
Filipino access to information, official records, public records and
to documents and papers pertaining to official acts, transactions
or decisions, as well as to government research data used as basis
for policy development. Thus, SEC treats the Articles of
Incorporation (AOI), By-Laws, and related documents as public
records which are available to the public.
SEC shares with and makes available the AOI, By-Laws,
and related documents to interested parties in order to fulfill the
aforementioned functions and mandate, for purposes such as:
a. complying with court orders, subpoenas and/or other
legal obligations;
b. complying with requests from law enforcement agencies
in the conduct of their investigations;
c. complying with requests from regulatory and
administrative agencies in the conduct of their
investigations, due diligence and policy and research
studies;
d. sharing of information with domestic and international
organizations and other researchers for their research
initiatives;
e. complying with requests from investing public,
prospective business partners and clients in the conduct
of due diligence of companies and their stockholders and
officers including their personal and financial information
to enable them to form an informed investment and
business decision;
f. determining the compliance of companies and their
stockholders with foreign ownership limitations in cases
where the entities are engaged in fully or partially
nationalized activities;
g. monitoring the effect of the securities issue on
ownership, on the mix of ownership, especially foreign
and local ownership;
h. monitoring the companies’ implementation of good
corporate governance practice of having board diversity
in terms of gender, age, ethnicity, culture, skills,
competence and knowledge;
i. complying with the requests from claimants against
companies and their stockholders and officers in the
enforcement of their legal claims through the addresses
provided in the GIS;
j. complying with the Bureau of Internal Revenue
requirement to reflect the valid Taxpayer Information
Number of the companies and their stockholders and
officers, and discourage and prevent the use of fake and
multiple TINs in corporate and business transactions.
k. complying with legal mandate to provide true, correct,
timely and complete information such that the filing is
under oath.
6. HOW WE KEEP YOUR PERSONAL INFORMATION SECURE
Personal and other information collected from registrants
are stored in a secure data facilities. The SEC has adequate
security safeguards to protect information from loss,
unauthorized access, use or disclosure. Only authorized SEC
personnel and service providers are granted access to personal
information collected by SEC.
7. RIGHTS OF THE DATA SUBJECT
Under the Data Privacy Act of 2012, data subject refers to
an individual whose personal information is collected and
processed. SEC is duly bound to observe and respect your privacy
rights, including your right to information, right to access, right to
correct, right to remove, right to damages and right to data
portability.
8. AUTHORIZATION
By submitting to SEC, the personal information of the
incorporators, stockholders, members, directors, trustees,
officers, resident agents, notary public and their representatives,
you attest that the aforementioned persons authorize the SEC to:
(1) collect, process and store their personal information and
related documents, for the period allowed under the applicable
law and regulations, and; (2) share with and make available the
AOI, By-Laws, and related documents to interested parties in
order to pursue lawful purposes and legitimate interests, and
comply with legal mandate.
You also attest that the company and the
aforementioned persons authorized you to file with SEC this
application for registration, and all the information provided
herein are true, accurate, timely and complete.
You further attest that they are aware of their rights
under the Data Privacy Act, including the right to be informed, to
access, to object, to erasure or blocking, to damages, to file a
complaint, to rectify and to data portability, and understand that
there are procedures, conditions and exceptions to be complied
with in order to exercise or invoke such rights.