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 Masindo Artha Sekuritas.
Considering the facts and information obtained from examination and supervision, OJK imposes Business Licence Revocation on PT Masindo Artha Sekuritas as Underwriter because PT Masindo Artha Sekuritas violated:
provision of Article 61 letter f POJK Number 20/POJK.04/2016 because has not carried out business activities as Underwriter for more than two (2) consecutive years, from March 18, 2014.
provision of Article 10 paragraph (1) letter b POJK Number 20/POJK.04/2016 jo. Article 61 letter b POJK Number20/POJK.04/2016 because has not composed Standard Operating Procedures of business activities as Underwriter in accordance with the provisions.
Following the revocation of the business license as Underwriter mentioned above, PT Masindo Artha Sekuritas:
is prohibited from conducting business activities as an Underwriter;
is required to settle all obligations to customers in their business activities as an Underwriter, (if any);
arerequired 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 as Underwriter.
