OJK Imposes Sanctions in Rp 15.9 Billion Market Manipulation Case

Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has imposed administrative sanctions on companies that violated capital market industry regulations, ranging from fines, licence suspensions, to licence revocations.

The Executive Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Authority of the Financial Services Authority (OJK), Hasan Fawzi, stated that OJK has imposed administrative sanctions in the form of fines totalling Rp 15.9 billion.

“Regarding the handling of market manipulation cases, OJK has fined Rp 15.9 billion to six individual parties and one written sanction to an individual,” he said during a virtual press conference on Monday (6/4/2026).

In addition, he continued, OJK also conducted examinations of cases in the capital market consisting of administrative sanctions in the form of fines of Rp 62.7 billion to 68 parties.

“Then one administrative sanction of licence revocation, four administrative sanctions of licence suspension, then seven written warning sanctions, and eight written orders,” he said.

Lately, OJK has frequently enforced provisions in the capital market. This concerns several issuers listed on the exchange.

Most recently, OJK imposed sanctions on the textile issuer PT Sejahtera Bintang Abadi Textile Tbk (SBAT) and related parties for violations of affiliation transaction provisions and conflicts of interest in the capital market.

For the violation, OJK imposed a sanction on Tan Heng Lok in the form of a fine of Rp 45 million and a prohibition from becoming a member of the board of commissioners, directors, or company executives in the capital market sector for five years. Meanwhile, SBAT was subjected to an administrative sanction in the form of a written warning.

Previously, OJK had also imposed sanctions and law enforcement on PT Multi Makmur Lemindo Tbk (PIPA) and PT Repower Asia Indonesia Tbk (REAL) for committing violations in the capital market sector, both through criminal and administrative mechanisms.