OJK Sanctions Capital Market Manipulators, Fines Exceed Rp96 Billion

REPUBLIKA.CO.ID, JAKARTA — The Financial Services Authority (OJK) has imposed sanctions on hundreds of capital market actors throughout the first quarter of 2026. This step is taken to strengthen discipline and integrity in the stock market.

OJK recorded total fines amounting to Rp96.33 billion imposed on 233 parties up to 31 March 2026. The Executive Head of OJK’s Capital Market, Derivatives Finance, and Carbon Exchange Supervision, Hasan Fawzi, stated that law enforcement is part of efforts to maintain certainty in the capital market.

“To provide legal certainty, OJK has imposed administrative sanctions throughout this year up to 31 March 2026, with total fines reaching Rp96.33 billion on no less than 233 parties,” Hasan said during a press conference at the Indonesia Stock Exchange Building in Jakarta on Thursday (2/4/2026).

He explained that some of the sanctions are related to market manipulation cases that have attracted investor attention. “This includes handling cases directly related to market manipulation conditions, which often draw attention from certain parties; the figure for this even reaches Rp29.3 billion,” Hasan stated.

Hasan said that these steps are expected to strengthen market conduct while restoring investor confidence in the domestic capital market.

“Ultimately, we hope to restore confidence in our capital market, especially from foreign investors,” Hasan added.

In addition to law enforcement, OJK, together with self-regulatory organisations, is implementing eight market integrity reform initiatives.

Four of them have been completed, covering provisions for share ownership above 1 percent, expansion of investor classification, an increase in the minimum free float limit to 15 percent, and the implementation of a high shareholding concentration mechanism.