OJK rushes to handle market manipulation cases, 17 cases completed in investigation

Head of the Capital Market, Derivatives and Carbon Exchange Supervisory Authority, OJK Hasan Fawzi. (Photo: ANTARA)

JAKARTA - The Financial Services Authority (OJK) reported the progress of handling the alleged market manipulation on the Indonesia Stock Exchange (IDX) as of July 21, 2026, a total of 17 out of 32 cases handled throughout this year have been completed. examined, while the rest are still in various stages of the examination process.

The Head of the Capital Market, Derivatives Finance and Carbon Exchange Supervisory Authority of OJK, Hasan Fawzi, said that the acceleration of handling the case was part of the implementation of the Action Plan to Accelerate the Reform of the Indonesian Capital Market Integrity.

"The development of the completion of 32 cases related to market manipulation violations in 2026, as of July 21, 2026, 5 cases are in the process of Examination, 10 cases are in the process of completing the Examination, and 17 cases have completed the Examination," he said in a written statement, quoted Thursday, July 30.

Hasan explained that out of the 17 cases that had been completed, OJK was currently preparing to impose administrative sanctions and the implementation of these sanctions would refer to the latest provisions in Law Number 4 of 2026 concerning Amendments to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK), especially Article 100E.

"For cases that have been completed by the investigation and in the process of determining administrative actions, its implementation will adjust to the provisions of Article 100E of Law Number 4 of 2026 concerning Amendments to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector which was enacted on June 17, 2026," he said.

Furthermore, Hasan emphasized that the capital market reform being carried out by the OJK aims to strengthen the market's foundation through improving the quality of issuers, strengthening liquidity, increasing transparency, improving governance, law enforcement, and expanding the investor base.

"This reform is expected to increase the confidence of domestic and foreign investors so that the Indonesian capital market becomes more credible and competitive as a source of long-term financing," he said.

Previously in February 2026, OJK had imposed an administrative sanction in the form of a fine of IDR 5.35 billion on the BVN influencer for violating the manipulation of stock prices through the dissemination of information on social media that occurred in the 2021-2022 trading period.

In addition, the indications of violations in the market manipulation case are very diverse, ranging from the delivery of misleading information, alleged fraud, the formation of unnatural prices, to the practice of manipulating stock prices.

Therefore, each case must be thoroughly investigated to ensure that there is a violation of the provisions of the Capital Market Law and the P2SK Law.