DTI and SEC Launch SCORE Protocol to Streamline Business Operations

The Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC) have launched the Swift Corporate and Other Records Exchange (SCORE) Protocol to improve business operations and reduce bureaucratic delays in the Philippines.

DTI Secretary Cristina A. Roque emphasized that the initiative strengthens the country’s business environment by ensuring faster transactions and better access to corporate records. She noted that the SCORE Protocol aligns with the government’s push for digitalization, making it easier for businesses to operate and invest.

The protocol allows for the secure exchange of corporate records and regulatory data between the DTI and SEC. This integration will streamline government processes, ensuring that agencies have real-time access to accurate information for policy decisions.

The system utilizes technology, including an Application Program Interface (API), to facilitate seamless data exchange. This innovation is expected to improve the efficiency of regulatory procedures and enhance market integrity.

The DTI and SEC also emphasized their commitment to data privacy and security. Both agencies will coordinate any updates to ensure compliance with regulations on personal and sensitive information. This guarantees the protection of business data while easing compliance requirements for companies.

During the event, Secretary Roque also recognized the SEC’s recent achievement in governance. The agency was awarded the Philippine Quality Award Level 3 for Mastery in Quality Management, making it the first national government agency to receive this recognition.

Roque reaffirmed the DTI’s commitment to supporting the SEC in making the Philippines a prime location for investments and innovation. The SCORE Protocol is part of the government’s broader strategy to improve the business landscape, ensuring a more efficient and competitive environment for enterprises.

The initiative aligns with President Ferdinand R. Marcos Jr.’s vision for a modern and streamlined regulatory system. With SCORE, the Philippines aims to attract more investments and foster economic growth through improved business processes. (ASC)