The move was initiated by JAKA, and not imposed by regulators, making it different from a disciplinary shutdown. The Securities and Exchange Commission had earlier approved the brokerage firm’s application for voluntary suspension, the reason for which was not disclosed.
JAKA Securities is part of the JAKA Group, which was founded by former Senate president Juan Ponce Enrile and is now led by his daughter Katrina Ponce Enrile.
Market insiders separately told InsiderPH that JAKA Securities had not been an active market player. One of them said the firm struggled after its former top executive left the firm.
Katrina's daughter, Kara Nicole Ponce-Enrile Rhounimi, is identified in corporate records as the current acting nominee of JAKA Securities.
Suspension stays indefinitely
The suspension will remain in effect until further notice and may be withdrawn if JAKA’s circumstances or representations materially change, according to CMIC, the independent market watchdog of the Philippine Stock Exchange.
The firm may resume operations only after complying with all regulatory requirements.Suspension stays indefinitely participants must immediately report any pending transactions or contracts involving JAKA to CMIC.
Juan Ponce Enrile, who died last Nov. 13, 2025 at 101 years old, served as Ferdinand Marcos Sr.’s defense minister during martial law before helping oust him in the 1986 People Power revolt and later becoming Senate president.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
