OJK urges stock manipulators to stop wash trading
OJK says about 33 million retail investors could be affected and has formed an HSC committee to strengthen market governance.
The Financial Services Authority, OJK, has asked stock manipulators to stop practices such as coordinated trading and wash trading, which it said damage the integrity of Indonesia's capital market. OJK Board of Commissioners Chair Friderica Widyasari Dewi delivered the warning at the Indonesia Stock Exchange building in Jakarta on Tuesday, stressing that the impact extends beyond the industry to investor confidence. According to OJK, about 33 million retail investors are now active in the national capital market. At the same time, OJK said market conditions should be viewed alongside economic fundamentals and listed companies' financial reports, which it said still show profit and revenue growth. To strengthen oversight, OJK is also pushing governance reform through a High Shareholding Concentration committee involving BEI, KPEI, KSEI, industry players, academics and foreign investors.