46th Anniversary Of The Capital Market, OJK Encourages Strengthening Integrity

Photo: Doc. Financial Services Authority

JAKARTA - The Financial Services Authority (OJK) is said to continue to encourage the strengthening of the integrity of market players, which is the key to further developing the Indonesian capital market, more contributes to the national economy.

This was conveyed by the Chairman of the OJK Board of Commissioners Mahendra Siregar at the peak event of the 46th anniversary of the re-activation of the Indonesian Capital Market today.

The keyword is that we continue to improve integrity. The integrity of market players, the integrity of stock exchange members, the integrity of their products, the integrity of issuers' companies, cross-professional control of the capital market, SRO, and supervisors and regulators," he said, Thursday, August 10.

According to Mahendra, increasing integrity is the main focus in the future and the essence of synergy that must continue to be strengthened by Exchange members, namely PT Bursa Efek Indonesia (IDX), PT Kliring Penjaminan Efek Indonesia, and PT Kustodian Sentral Efek Indonesia.

"OJK will continue to increase efforts to protect investors and the public," he said.

Mahendra added that this was done through cooperation and collaboration with related institutions and parties.

"There needs to be support for integrated socialization, optimization of market conduct/behavior supervision of financial services business actors, and strengthening regulations related to authority in conducting supervision," he said.

On the same occasion, OJK Capital Market Supervisory Chief Executive Inarno Djajadi in his statement also conveyed the importance of maintaining investor and public trust in the Indonesian capital market.

"OJK is committed to continuing to improve the function of supervision and law enforcement in order to provide protection for investors," he said.

As for August 9, 2023, the OJK has examined compliance with 17 Investment Managers, supervisory measures against 94 effect transactions, 32 securities companies, 14 securities institutions and supporting institutions, 23 capital market supporting professions, and provided 16 specific action orders.

In the implementation of law enforcement in the capital market sector, until August 8, 2023, the authorities have also stipulated 193 sanctions consisting of 19 written warning sanctions, 1 sanction of revocation of permits, and 173 administrative sanctions in the form of fines with a total fine of Rp. 26.13 billion.

In addition, OJK also issued 5 written orders as an effort to enforce the law against violations of laws and regulations in the Capital Market sector.

"Indonesia's capital market performance still recorded positive growth, as reflected in the growth of the JCI by 0.36 percent year to date (ytd) until August 9 yesterday with a market capitalization value of Rp10,040 trillion," he explained.

Then, OJK has issued an effective statement on the registration statement in the context of public offering as much as 141 with total emissions of IDR 165.22 trillion, 57 of which are new issuers. Currently, the number of our issuers is the largest in the ASEAN region and is the 4 largest in the global region.