PSE lifts Globalinks suspension

MANILA, Philippines – The market regulation arm of Philippine Stock Exchange has lifted the involuntary suspension issued against Globalinks Securities and Stocks Inc. after three months, saying the stock brokerage house now had enough capital to continue operating.

In a memorandum on Tuesday, Capital Markets Integrity Corp. (CMIC) said it had received documents from Globalinks showing proof of capital infusion.

READ: Stock brokerage Globalinks suspended on “continuing” capital shortfall

The suspension, which was imposed on July 9, was lifted on Tuesday.

Still, CMIC said Globalinks needed to ensure that it consistently followed the minimum capitalization requirement.

“Should there be any subsequent findings showing that the above rules have been infringed by Globalinks, the proper disciplinary actions shall be meted out by CMIC to the trading participant,” CMIC president Gerard Sanvictores said in their memorandum.