IDX Sanctioned Kiwoom Sekuritas, Why?

JAKARTA - The Indonesia Stock Exchange (IDX) has imposed a written warning sanction on PT Kiwoom Sekuritas Indonesia. This sanction was given by the IDX because Kiwoom did not meet the completeness of the 2021 audited annual financial report.

"It is hereby announced that the Stock Exchange has issued a written warning to PT Kiwoom Sekuritas Indonesia," explained the IDX announcement, Monday, June 14.

In its announcement, the Exchange explained that based on the results of monitoring it was found that Kiwoom Sekuritas did not meet the completeness of the 2021 audited annual financial report as stated in the Exchange Regulation Number III-D concerning Reporting Members of the Stock Exchange.

IDX previously announced that 95 issuers had not submitted financial reports for the period ending March 31, 2022.

In making this announcement, the IDX refers to Circular Letter Number: SE-00023/BEI/12-2021 dated December 30, 2021 regarding the Addition of Special Notation Information Displays in the Listed Company Code in the 19th digit to the 30th digit Remarks Column2 in JATS and information on the Exchange website and the deadline for submitting financial statements for the period ending March 31, 2022

"It is hereby announced the list of special notation 'L' as of June 3, 2022," explained the IDX announcement.