The Financial Services Authority (Otoritas Jasa Keuangan/OJK) hereby announces the results of its supervision concerning violations of laws and regulations in the Capital Market, Derivative Finance and Carbon Exchange sector committed by Mr. Davies Vandy.
Based on the facts and information obtained, OJK has imposed administrative sanction in the form of a revoking the individual license of Mr. Davies Vandy as a Securities Broker Representative (WPPE), who has been proven to have violated the provisions of Article 4 letter a points 1 and 6 in conjunction with Article 16 letter c of POJK Number 20/POJK.04/2018 concerning Licensing of Securities Issuance Agents and Securities Broker Agents for not meeting the integrity requirements, namely having good character and morals and a high commitment to complying with laws and regulations by falsifying his Membership Card of The Indonesian Capital Market Professional Association (PROPAMI) in his application for renewal of his WPPE license to the OJK and not being a member of an association that accommodates WPPEs that have been recognized by the OJK.
With the imposition of administrative sanctions in the form of revocation of his license as a WPPE, Mr. Davies Vandy is prohibited from conducting activities as a Securities Broker Representative.
