OJK will receive compensation from "criminals of the exchange"

Jakarta – The Financial Services Authority (OJK) plans to set up a disgorgement fund. It's a place to collect funds from offenders in the capital market environment.

The CEO of the Financial Market Supervisor and a member of the OJK Board of Trustees, Hoesen, explained that later, people who commit capital market offenses must pay a fine for criminal offenses committed .

"Actors who violate the law are subject to compensation obligations, because the law must exist, and later the money will be placed in the restitution fund," he explained. OJK Building Jakarta, Monday (18/02/2019).

Later, investors who become victims or those who feel disadvantaged can recover their money through the disgorgement fund. Investors will feel protected.

"That's what has been the question, what is the fate of the victims," ​​he added.

This initiative seems inspired by what has been done by the US OJK, the SEC (Securities and Exchange Commission). All offenders in the financial markets case must pay fines which are then distributed to the victims.

Common violations in the capital market are very diverse. From pseudo-transactions, insider trading to embezzlement of clients.

This idea is always an initiative. OJK is reviewing its legal basis. Because if it is applied, it will cross several policies and regulations of other authorities.

"The question is whether you have paid if the percentage continues in court?" Where is the discussion? This is what is being prepared. If the process is stopped or after its treatment, it will usually be dealt with, investors will be punished, "he added.

Hoesen added that investors who can apply for compensation funds through the disbursement fund are only those who suffer injury due to a violation of applicable law. Not a loss due to stock price fluctuations. (das / ang)