The Indonesia Financial Services Authority (OJK) herewith announces the results of the Formal Investigation in the case of violations of laws and regulations in the Capital Market sector by PT Indo Mitra Sekuritas.
Considering the facts and information obtained in the Formal Investigation, OJK imposes Business Licence Revocation on PT Indo Mitra Sekuritas as Underwriter and Securities Broker-Dealer because PT Indo Mitra Sekuritas violated:
provision of Article 7 paragraph (1) jo. Article 61 letter e POJK Number 20/POJK.04/2016, because PT Indo Mitra Sekuritas no longer has a head office to carry out operational activities as Underwriter and/or Broker-Dealer.
provision of Article 10 paragraph 1 letter a jo. Article 61 letter f POJK Number 20/POJK.04/2016, because PT Indo Mitra Sekuritas no longer has a complete organizational structure so that it has not carried out business activities as Underwriter and Broker-Dealer for 2 (two) consecutive years.
Following the revocation of the business license as Underwriter and Securities Broker-Dealer mentioned above, PT Indo Mitra Sekuritas:
is prohibited from conducting business activities as an Underwriter and Securities Broker-Dealer;
are required to dismiss the Securities Company no later than 180 (one hundred and eighty) days after this decision letter is stipulated, as stipulated in Article 46 paragraph (1) and paragraph (2) of the Financial Services Authority Regulation Number 3/POJK.04/2021 concerning Organizing Activities in the Capital Market Sector;
is required to settle all obligations to customers in their business activities as an Underwriter and Securities Broker Dealer, (if any);
are required to complete all obligations on Administrative Sanctions Bills to OJK through the OJK Revenue Information System; and
it is prohibited to use the name and logo of the Company for any purposes and activities, other than for activities related to the dismissal of the Limited Liability Company.
