CMIC, the self-regulatory body overseeing broker compliance and market conduct under the Philippine Stock Exchange, said the firm’s continued operations posed risks to investor protection and market integrity, prompting the rare move of an involuntary suspension.
According to the CMIC memorandum, Mount Peak “is a party to ongoing investigations concerning purported failures to comply with several capitalization requirements and other securities laws”.
What clients can do
During the ban, Mount Peak will be barred from trading and clearing systems of the Philippine Stock Exchange and related institutions.
Clients may still transfer their securities or request sell transactions, but all such activities will require CMIC approval.
Proprietary trading, transactions by related parties, and transfers linked to other ongoing investigations are prohibited during the suspension.
The regulator ordered Mount Peak to immediately notify affected clients and ensure their interests are protected amid the suspension.
This follows the July 9, 2025 suspension of Globalinks Securities & Stocks Inc. for similar capital rule violations.
—Edited by Miguel R. Camus
