Darmin Nasution new Bapepam chief<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Minister of Finance Yusuf Anwar officially installed Darmin
\nNasution as the new chairman of the Capital Market Supervisory
\nAgency (Bapepam) on Tuesday.<\/p>\n
Darmin will also remain in his current post as the finance
\nministry's director general for financial institutions, until the
\nministry completes the planned integration of the directorate
\ngeneral with Bapepam.<\/p>\n
Darmin -- who has been the Bapepam acting chairman since last
\nNovember -- takes over from Herwidayatmo, who is now an executive
\ndirector of the World Bank.<\/p>\n
Yusuf also appointed J.B. Kristiadi -- a former finance
\nministry official and current secretary at the Ministry of
\nCommunications and Information -- as the finance ministry's new
\nsecretary-general, replacing Agus Haryanto, who will become the
\nnew executive director of the Asian Development Bank.<\/p>\n
In a speech, Yusuf said he expected Darmin to improve the
\nagency's performance, which in turn would improve investor
\nconfidence in the stock market.<\/p>\n
"Besides being the market watchdog, Bapepam should also be an
\nadvocate and a partner for investors," he said. "Bapepam must be
\nmarket friendly, protecting the interests of investors from
\nfinancial fraud."<\/p>\n
Darmin said his top goal at the agency would be to achieve
\ncontinuous improvement in Bapepam's programs and record.<\/p>\n
"The country's stock market is already well regulated and
\ndynamic -- as well as sensitive -- according to its own terms, so
\nwhat it needs is further improvement, not hasty policies," he
\nsaid. "And what I mean by improvement is providing what the
\nmarket needs, which is transparency and fairness for all
\ninvestors."<\/p>\n
Darmin received a bachelor's degree in economics from the
\nUniversity of Indonesia in Jakarta in 1976, and earned his
\ndoctorate from the University Paris I Sorbonne in 1986.<\/p>\n
Bapepam is a state agency under the finance ministry that
\nregulates and oversees the country's capital market. It also
\ninvestigates market irregularities and has the power to impose
\nfines.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/darmin-nasution-new-bapepam-chief-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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