SEC Partners with DTI in push for MSME Growth

​The Securities and Exchange Commission (SEC) has partnered with the Department of Trade and Industry (DTI) to streamline the business registration process, empowering micro, small, and medium enterprises (MSMEs) to set up their operations more efficiently.

In a ceremony on March 19, the Commission signed a memorandum of agreement with the DTI that will facilitate the sharing of corporate data through the SEC Swift Corporate and Other Records Exchange (SCORE) Protocol.

Under the agreement, the SEC will provide DTI access to relevant corporate data such as articles of incorporation, general information sheets, or annual financial statements, among others, that will aid in the latter’s mandate to regulate the business transactions of sole proprietorships.

Launched in July 2024, the SCORE Protocol is an online system that facilitates secure document exchange between agencies, enabling faster access to crucial company information.

For its part, the DTI will provide the SEC access to its business entity name or trademark registry via the Application Programming Interface (API) of its Business Entity Name Registration System (BNRS).
The BNRS ensures that no business entity name will be used or registered if they are identical, deceptively or confusingly similar, and not distinguishable from those that are already reserved or registered by another business entity.

The partnership will enable the SEC and DTI to implement a seamless and frictionless manner of collaborating and sharing data on business entity names and trademarks toward a more comprehensive name verification process.

“This agreement is a significant step forward in strengthening our collective efforts to empower the country’s dynamic business landscape…For our purpose, the central focus of this partnership with DTI is our shared commitment to support MSMEs, the backbone of our economy,” SEC Chairperson Emilio B. Aquino said.

“Through the SCORE Protocol, we will be better equipped to provide tailored support, break down barriers, and foster the growth and innovation of MSMEs, ensuring they are empowered to thrive in a rapidly evolving global market,” he added.

The partnership with DTI marks the Commission’s second government collaboration for the use of the SCORE Protocol. The SEC previously partnered with the Bureau of Internal Revenue (BIR) in July 2024, giving it access to vital corporate data to enhance tax administration.

“BIR has so far been able to readily secure vital corporate documents under the agreement to pursue its tax collection and enforcement campaign,” Mr. Aquino said.