OJK Imposing Fines To Two Naughty Investment Managers Of IDR 3.07 Billion In August

Investment illustration (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) noted that throughout August 2023 it had imposed administrative sanctions on 2 investment managers (MI) worth IDR 3.07 billion. The two MIs are Asia Arya Capital and Pan Arteria accompanied by written orders.

"OJK has imposed administrative sanctions on 2 MI, namely Asia Arya Capital and Pan Arteria with a total fine of Rp3.07 billion and a written order to issue all mutual fund products," said OJK Capital Market Supervision Chief Executive Inarno Djajadi in a press conference for the August 2023 RDK which was held virtually, Tuesday, September 5.

He continued, the OJK also imposed administrative sanctions and written orders on management, shareholders, marketers and other parties who were proven to have caused the investment manager to violate laws and regulations in the capital market sector.

In addition, in the same month the OJK also imposed administrative sanctions and written orders on the case of trading shares of PT Dewata Freight International Tbk with the issuer code DAL for the period 9 November 2018 to 29 March 2019 to 18 parties consisting of 3 legal sections and financial institutions, 1 non-financial legal entity, 7 securities company representatives and 7 individual investors with a total administrative sanction in the form of fines of Rp37.5 billion to 18 parties.

"Breastment of business licenses to one financial institution's legal entity, registration regulations to close securities accounts to 6 trade investors, written orders in the form of banning activities in the capital market for 5 years to 1 deputy securities company and also a written order prohibiting activities in the capital market including direct or indirect investments for 3 years to 1 legal entity to non-financial institutions," explained Inarno.

Just so you know, in the context of law enforcement in the capital market sector, until August 2023 the OJK has imposed administrative sanctions on the examination of cases in the capital market to 87 parties consisting of administrative sanctions in the form of fines of Rp56.58 million rupiah, 6 revocation of permits, 1 suspension of permits, 45 written orders and 13 written warnings.

Inarno also detailed that the OJK had also imposed administrative sanctions in the form of fines for delays with a value of Rp. 11.16 million to 216 financial services actors in the capital market.