Brokers

19 brokers reprimanded and sanctioned for securities breaches

The Capital Markets Integrity Corporation (CMIC) has reprimanded and sanctioned 19 broker firms for violating securities laws.

These brokers are Armstrong Securities Inc., Astra Securities Corp., Equitiworld Securities Inc., F. Yap Securities Inc., First Metro Securities Brokerage Corp., Jaka Securities Corp., Mercantile Securities, Meridian Securities, Mount Peak Securities, Papa Securities Corp., Philippine Equity Partners, R. Coyiuto Securities, R.S. Lim & Company, RTG & Co., S.J. Roxas & Company Inc., Salisbury Securities Corp., Star Alliance Securities, Strategic Equities Corp. and Unicapital Securities Inc.

Sanctions and penalties imposed on these trading participants range from minor, such as a written reprimand, to major, which involves monetary penalties.

Only Astra Securities and RTG & Co. received grave sanctions, including both a written reprimand and a monetary penalty.

CMIC, the regulatory body overseeing the trading participants of the PSE, said that the period covered was from July 26 to December 28, 2023.”

CMIC president Gerard B. Sanvictores said the list does not include matters that are pending resolution by the CMIC board or where the period to appeal has not yet lapsed.

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