OJK completes investigation into 17 market manipulation cases

The Financial Services Authority (OJK) has announced the completion of investigations into 17 cases related to market manipulation violations in the Indonesian capital market. As of 21 July 2026, five cases remain under investigation, ten cases are in the process of concluding their examination, and 17 cases have been fully investigated. This was disclosed by Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance and Carbon Exchange Supervision at OJK, during a written response for the July 2026 RDKB press conference in Jakarta. Hasan explained that the move is a follow-up to the Action Plan for Accelerating the Reform of Indonesian Capital Market Integrity. He noted that the handling of cases indicating criminal acts in the capital market, particularly market manipulation cases, has been expedited. For cases where investigations have been completed and are now in the process of determining administrative actions, Hasan stated that the implementation will comply with prevailing regulations, specifically Article 100E of Law Number 4 of 2026 concerning Amendments to Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector, which was enacted on 17 June 2026. Previously, Hasan revealed that the OJK was conducting further investigations into 32 cases in the Indonesian capital market involving corporate entities, individuals, and social media influencers. He explained that these 32 cases exhibited various indications, ranging from the dissemination of false information or outright fraud to the creation of artificial prices or unusual trading activity and market price manipulation. He stressed that all these cases must be traced comprehensively to link them with possible violations of the Capital Market Law and the P2SK Law.