Indonesia's Financial Services Authority (OJK) has delivered notices of sanctions imposed on Oct. 16, 2026, for violations involving trading in PT Dian Swastatika Sentosa Tbk (DSSA) shares and the initial public offerings of PT Barito Renewables Energy Tbk (BREN) and PT Petrindo Jaya Kreasi Tbk (CUAN). The penalties include fines of IDR 1.5 trillion for DSSA market manipulation, IDR 500 billion for concealing information about BREN share subscribers and IDR 100 billion for similar violations involving CUAN. Exchange members and individuals also received administrative penalties. In the DSSA case, OJK found planned and structured market manipulation by clients trading through several exchange members, causing a substantial rise in the share price. PT SMT received the IDR 1.5 trillion fine, while R, currently a director of PT SS, had their securities underwriting representative license suspended for one year. Nine exchange members were fined for administrative violations, and eight sales staff handling orders from clients trading DSSA shares received written warnings. The BREN and CUAN investigations found that parties connected to the companies' controlling shareholders concealed their identities to obtain very large share allocations. This concentrated ownership among particular groups and limited the shares available in the market. AH Ltd received the IDR 500 billion fine in the BREN case, and TC Pte Ltd received the IDR 100 billion fine in the CUAN case. For separate administrative violations involving CUAN, OJK also fined exchange members PT HPS and PT BDS and suspended a PT HPS director's securities underwriting representative license for three months.

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