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 Royal Investium Sekuritas.
Considering the facts and information obtained in the Formal Investigation, OJK imposes Business Licence Revocation on PT Royal Investium Sekuritas as Underwriter and Securities Broker-Dealer because PT Royal Investium Sekuritas violated:
provision of Article 7 paragraph (1) POJK Number 20/POJK.04/2016 jo. Article 61 letter e POJK Number 20/POJK.04/2016, because PT Royal Investium 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 Royal Investium Sekuritas no longer has a organizational structure required by regulations in the Capital Markets sector.
provision of Article 2 paragraph (1) POJK Number 8/POJK.04/2022 jo. Article 50 paragraph (4) dan (5) POJK Number 57/POJK.04/2017 jo. Article 21 paragraph (5) POJK Number 8/POJK.04/2022 jo. Article 19 paragraph (1) POJK Number 8/POJK.04/2022 jo. Article 43 POJK Number 18/POJK.07/2018, because PT Royal Investium Sekuritas did not submit periodic reports to Otoritas Jasa Keuangan.
Following the revocation of the business license as Underwriter and Securities Broker-Dealer mentioned above, PT Royal Investium 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.
