CMIC Lifts Suspension on I. Ackerman
The Capital Markets Integrity Corp. (CMIC), the market regulation unit of the Philippine Stock Exchange, has lifted the suspension on stock brokerage I. Ackerman & Co. Inc. (IACI), the first American-owned stock brokerage in the country. In a memorandum dated June 3, CMIC president Cornelio Gison said IACI – founded by the late stock market veteran Irving Ackermanm who was one of the founders of the old Makati Stock Exchange – was determined to be in “substantial conformity” with its obligations relative to risk-based capital adequacy.
Source: Philippine Daily Inquirer