OJK Imposing Sanctions On 104 Capital Market Perpetrators

JAKARTA - The Financial Services Authority (OJK) imposed administrative sanctions on 104 perpetrators in the capital market for various cases until October 2023.

Chief Executive of the Capital Market Supervisory, Derivative Finance and OJK Carbon Exchange, Inarno Djajadi, said that his party had imposed administrative sanctions for examining cases in the capital market to 104 in the form of fines of Rp. 58.8 billion, 8 revocation of permits, 1 suspension of permits, 48 written orders and 23 written warnings.

"As well as imposing sanctions in the form of fines for delays with a value of Rp. 14.1 billion to 299 financial service actors in the capital market and 5 written warnings for delays in submitting reports," said Inarno, Monday, October 30.

In October 2023, the OJK imposed an Administrative Sanction on 1 Investment Manager in the form of a fine of IDR 525 million and a written order to complete the process of disbursing its Mutual Funds and to pay liquidation proceeds which are the rights of the participation unit holders within a period of no later than 6 months.

In addition, OJK also imposed administrative sanctions in the form of fines to the investment manager management and related Kustodian Banks.

Inarno said that the OJK had also set administrative sanctions in the form of fines and written orders to 2 parties, namely representatives of securities traders (WPPE) and securities companies (PE) with a total administrative sanction in the form of fines of Rp. 200 million and written orders.

Regarding the details, WPPE is subject to administrative sanctions in the form of a fine of Rp. 125 million and a written order in the form of a ban on not being allowed to carry out activities in the capital market sector for 5 years for violations of carrying out securities portfolio management activities without owning or having a deputy investment manager (MI) permit and receiving a fee for customer securities transactions.

In addition, securities companies are subject to administrative sanctions in the form of fines of Rp75 million and written orders and ensuring clarification of marketers and employees are no longer carrying out customer account management activities.