The Indonesia Financial Services Authority (OJK) hereby announces the results of its supervision regarding a case involving violations of laws and regulations in the Capital Market, Derivative Finance and Carbon Exchange sector by PT Bank Neo Commerce Tbk.
Having considered the facts and information obtained from supervision, OJK has imposed an administrative sanction in the form of the Cancelation of the Institutional Level I Marketing Partner of Securities Broker-Dealer registration certificate granted to PT Bank Neo Commerce Tbk, which has violated Article 11 paragraph (1) of OJK Regulation Number 21/POJK.04/2021 concerning Marketing Partners of Securities Broker-Dealers, for failing to carry out activities as a Marketing Partner of a Securities Broker-Dealer within a period of one (1) year after obtaining the Marketing Partner of Securities Broker-Dealer registration certificate from OJK.
With the Cancelation of the Institutional Level I Marketing Partner of Securities Broker-Dealer registration certificate as mentioned above, PT Bank Neo Commerce Tbk is hereby:
prohibited from conducting activities as a Marketing Partner of a Securities Broker-Dealer; and
required to settle all outstanding levy payments and/or administrative sanctions in the form of fines to OJK, that have not been fulfilled when PT Bank Neo Commerce Tbk registered as a Marketing Partner of a Securities Broker-Dealer (if any).
