Taiwan Depository & Clearing Corporation

On April 12th this year, Taiwan Depository & Clearing Corporation (TDCC) has successfully obtained the Asia-Pacific Economic Cooperation (APEC) Cross-Border Privacy Rules (CBPR) system certification, becoming the first enterprise in Taiwan to achieve this milestone. This accomplishment marks a significant upgrade in personal data protection, setting a new benchmark for financial personal data protection. The certification award ceremony was held on June 7, with the certificate presented by the Institute for Information Industry (III) and received by TDCC President Daniel Chen.

President Chen emphasized that personal data protection is the cornerstone of the stable operation of the capital market. He stated that the CBPR certification is not just an accreditation but also a recognition of TDCC's dedication to personal data protection. As TDCC is responsible for custody and managing important data related to securities, futures, Short-term Bills, funds, and cross-border securities for individual investors nationwide, it is crucial to ensure the security and privacy of investors' financial information through systematic privacy protection policies and data security measures. Additionally, obtaining this certification signifies that TDCC's personal data management capabilities meet international standards, allowing for seamless compliance with local regulations on international data transfers with APEC member economies, thereby effectively reducing compliance costs.

APEC developed the CBPR system as an international standard in response to the increasing frequency of global cross-border data exchanges, emphasizing the importance of personal data protection by enterprises. The CBPR system assists member economies in establishing a secure and trustworthy framework for cross-border privacy rules. In Taiwan, the CBPR initiative is guided by the National Development Council and was applied for by the Institute for Information Industry in 2021, making it as the 9th Accountability Agent for the APEC CBPR system. Achieving CBPR certification enhances cross-border privacy protection standards, fostering an environment conducive to promoting cross-border digital trade. Recently, the National Development Council also coordinated with 16 ministries, including the Financial Supervisory Commission, Ministry of Economic Affairs, and Ministry of Justice, to join the " Global Cooperation Arrangement for Privacy Enforcement" released by CBPR in October 2023, strengthening cross-border privacy enforcement cooperation among APEC member economies and enhancing personal data protection for Taiwanese citizens.

TDCC has been a longstanding advocate for personal data protection. Since 2012, it has implemented the Taiwan Personal Information Protection and Administration System (TPIPAS) and was awarded the "Data Privacy Protection Mark" by the Ministry of Economic Affairs in 2013, becoming the first enterprise in Taiwan's financial industry to adopt TPIPAS. The recent attainment of the international CBPR certification further underscores TDCC's rigorous data protection processes, which now meet international standards. This achievement will also enhance the security of cross-border financial data transfers, expand the scope of digital financial cooperation, and strengthen personal data protection within Taiwan's financial industry.