OJK Chief Reveals Investigation into 27 Securities Market Violations

Jakarta — The Financial Services Authority (OJK) is investigating 27 cases of violations in the securities market. Hasan Fawzi, the newly appointed head of the OJK’s Securities Market, Derivatives and Carbon Exchange Supervision Division, stated that the authority is examining each case individually and will impose appropriate sanctions.

“All cases in our purview will go through special examinations and investigations one by one. We expect that, like previous cases, some will reach their final stage. We will impose certain sanctions and make announcements to the public,” said Fawzi following the parliamentary plenary session on 12 March 2026.

Fawzi emphasised that the OJK will promote transparency in compliance matters and impose measured enforcement against violations. He characterised the OJK’s actions as part of a broader “development” approach.

“What we want to achieve is to be present, enforce regulations, and ensure proper law enforcement. At the same time, we want to work with market participants to continuously improve themselves. There should be no room for non-compliance with various regulations,” Fawzi added.

Previously, the OJK and the Indonesian National Police (POLRI) conducted searches at PT Mirae Asset Securities Indonesia (MASI), located in Treasury Tower in Jakarta’s Sudirman Central Business District, on 4 March 2026, as part of law enforcement operations concerning alleged criminal offences in the securities market.

The searches were conducted by the OJK’s investigation team as part of the investigation into alleged manipulation of material facts, specifically regarding the non-disclosure of affiliated parties receiving fixed allotments in initial public offerings (IPOs), as well as the submission of IPO fund usage reports that did not reflect the actual situation. The alleged manipulation and false reporting is believed to involve the securities firm.