OJK Boss Says He Will Conduct A Deeper Investigation Regarding The Capital Market Gratification Case

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar. (Photo: Doc. ANTARA)

JAKARTA - The Financial Services Authority (OJK) revealed that it is investigating and investigating the possibility of staff and other officials including potential issuers involved in gratification cases in the Indonesian Capital Market.

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar said this was a violation and could not be tolerated because it would affect the integrity of the financial services sector, especially the capital market.

According to Mahendra, this step is a follow-up to the decision of the Indonesia Stock Exchange which has terminated five of its employees following an initial public offering (IPO) violation.

"Of course it's not limited to just five [OFFICS], but also to all parties who are at risk or may be involved in this, but we haven't received an update on whether there are any additions," he said at the OJK RDKB press conference Friday, September 6.

In addition, Mahendra conveyed that sanctions would also be given to issuers if they were proven to be involved in the violation of the gratuity in the listing process on the stock exchange.

"This includes seeing the possibility of other parties involved if there are potential issuers involved, because these violations cannot be tolerated," he said.

Meanwhile, Mahendra said that the OJK had not yet obtained evidence of the flow of gratuity funds from five former IDX employees to employees or officials at the OJK after an examination was carried out.

Nevertheless, Mahendra ensured that the audit would continue to find the involvement of individuals in the OJK in the case.

"We are also exploring other aspects that may be involved in this incident, even if it is not in the form of funds," he said.

Mahendra emphasized that this must be resolved because it has an impact on the integrity, credibility, and accountability of the Indonesian capital market.

"We will not cover up and will not make exceptions to anyone. This incident shows that even though there have been so many steps to improve the business process," he said.