Business · Companies · 2 hrs ago
Indonesia's OJK fines firms over stock-market violations
Indonesia's financial regulator, OJK, sanctioned parties linked to three listed companies over violations involving their shares.
In the DSSA case, OJK found planned trading that pushed the share price up significantly and fined a company Rp1.5 trillion.
For BREN and CUAN share offerings, firms were fined Rp500 billion and Rp100 billion, respectively, for hiding the identities of people placing orders.
OJK said people linked to the companies' controllers received large share allocations, concentrating shares among a small group and limiting market supply.
The regulator also fined several brokerage firms and imposed warnings or licence suspensions on some individuals.
OJK says the penalties aim to strengthen market integrity and deter violations, and it plans to continue increasing market supervision and enforcement.
Indonesia’s Financial Services Authority (OJK) imposed sanctions over violations involving shares in DSSA, BREN and CUAN.
The penalties include fines of Rp1.5 trillion for PT SMT, Rp500 billion for AH Ltd and Rp100 billion for TC Pte Ltd.
OJK said it found planned market manipulation involving DSSA shares and misleading information about share orders for BREN and CUAN.
The actions also include fines for securities firms and licence suspensions for individuals involved in DSSA and CUAN cases.
OJK said the sanctions aim to strengthen market integrity, enforce rules and protect investor confidence.
- Who
- Indonesia’s Financial Services Authority (OJK) imposed the sanctions on companies, securities firms and individuals.
- What
- OJK penalized parties over alleged market manipulation and misleading information about share orders involving DSSA, BREN and CUAN.
- When
- The sanction letters were handed over on 21 October 2026.
- Where
- Indonesia’s capital market. The letters were delivered at the regulator’s office in Jakarta.
- Why
- OJK said the parties violated capital-market rules, including rules against market manipulation and obscuring the identities of share applicants.
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OJK said it found planned and structured market manipulation that significantly increased the share price.
OJK said related parties obtained large share allocations while concealing their identities, concentrating shares among a limited group.
OJK handed sanction letters directly to the parties it found had violated capital-market rules.
- DSSA fine
- Rp1.5 trillion for PT SMT
- BREN fine
- Rp500 billion for AH Ltd
- CUAN fine
- Rp100 billion for TC Pte Ltd
- CUAN securities firms
- PT HPS and PT BDS were fined
- Licence suspension
- The director of PT HPS had an underwriter-representative licence suspended for three months
8 sources
3 Perusahaan Dihukum OJK Rp2,1 T Buntut Manipulasi Saham
Terbongkar Pihak-pihak di Balik Kasus Saham DSSA, BREN, dan CUAN
Kasus IPO CUAN, OJK Beri Sanksi 2 Sekuritas dan Direkturnya
What people are saying
OJK menegaskan bahwa penetapan sanksi tersebut merupakan bagian dari upaya berkelanjutan OJK dalam meningkatkan integritas Pasar Modal Indonesia serta memperkuat penegakan hukum yang tegas, konsisten, efektif, dan proporsional.