February 9, 2026 | 02:02 pm
TEMPO.CO, Jakarta - The Financial Services Authority (OJK) imposed fines totaling Rp542.49 billion for Indonesian capital market violations occurring from 2022 to January 2026. Deputy Commissioner for Licensing and Supervision of Capital Market Investment and Securities Management at OJK, Eddy Manindo Harahap, stated that of this amount, Rp240.65 billion is related to stock trading manipulation.
Eddy detailed that a total of Rp542.49 billion in fines was imposed on 3,418 parties. These fines were given for reporting delays totaling Rp159.9 billion and substantive violations totaling Rp382.58 billion.
"Of the Rp382.58 billion, Rp240.65 billion is related to stock trading manipulation, which was imposed on 151 parties," said Eddy in a press conference at the Indonesia Stock Exchange on Monday, February 9, 2026.
OJK also imposed other administrative sanctions, including 9 permit suspensions, 28 permit revocations, and 119 written orders. Meanwhile, regarding the enforcement of criminal law, Eddy stated that, from 2022 until early 2026, the OJK concluded five legally binding criminal cases.
Currently, 42 criminal cases are still being processed, 32 of which are related to stock trading. Eddy also mentioned that one case has been referred to the prosecutor's office, namely the stock manipulation case involving PT Sriwahana Adityakarta Tbk.
Previously, OJK has also imposed administrative sanctions and/or written sanctions on two companies for violations of regulations in the capital market. These two companies are PT Multi Makmur Lemindo Tbk (PIPA) and PT Repower Asia Indonesia Tbk (REAL).
In the case of REAL, the Financial Services Authority imposed a fine of Rp925 million. Meanwhile, in the case of PIPA, OJK imposed a fine of Rp1.85 billion.
According to Eddy, based on OJK's examination of various cases, one of the root causes of price manipulation problems in the Indonesian capital market is deviation in the Initial Public Offering (IPO) process. "Especially the listing of shares that do not reflect the investor's condition, as well as the weak implementation of prudence principles and customer due diligence, and the use of incorrect information in the share ordering and listing process," said Eddy.
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