QUEZON CITY - The National Labor Relations Commission (NLRC) conducted an orientation focused on the Data Sharing Agreement (DSA) and the use of beneficial ownership information use, in partnership with the Securities and Exchange Commission (SEC). The orientation was facilitated by the Anti-Money Laundering Division of the SEC in partnership with the United Nations Office on Drugs and Crime and Open Ownership.

NLRC Chairperson Grace E. Maniquiz-Tan highlighted the crucial role of the DSA in case execution. She explained that “access to basic and beneficial ownership information is essential for the NLRC to effectively serve summons and other legal notices, establishing jurisdiction over respondents and ensuring proper notification of legal actions.”

Atty. Oliver O. Leonardo, SEC Director of Markets and Securities Regulation Department and Supervising Director of the Anti-Money Laundering Division, emphasized the importance of beneficial ownership data for labor law enforcement. “For the NLRC, beneficial ownership data holds particular significance in uncovering hidden assets to ensure proper enforcement of labor arbitral awards” he stated.

The speakers provided a walk through on the concept of beneficial ownership information, request process, provisions of the DSA between the SEC and NLRC, and use of beneficial ownership information in asset tracing and recovery. Discussions also included strategies to ensure that the implementation of DSA is in compliance with the Data Privacy Act of 2012.

NLRC Commissioners, Executive/Labor Arbiters from the National Capital Region, Regional Arbitration Branches II, III and IV, and other NLRC officials and personnel who were present were introduced to tools necessary to identify the beneficial owners of corporations and understand the process for requesting beneficial ownership information from the SEC. They actively engaged and participated in a practical exercise to apply what they learned on beneficial ownership information in verification and dispute resolution processes.

Atty. Daniel Luis P. Macalino, SEC Assistant Director of the Anti-Money Laundering Division, commended the NLRC for its commitment in adopting innovative approaches in labor justice enforcement. The initiative underscores the commitment of both the NLRC and SEC to enhance transparency and effectiveness in their respective mandates.