Press Releases of Bapepam

Bapepam has recently received a number of complaints and inquiries from investors who have received unsolicited calls from stockbrokers who claim to have offices in Jakarta. In fact, these firms only used the facilities of Jakarta business centres or company secretarial firms to make it appear that they operated from Jakarta and really operated from foreign countries.

A firm that carries on the business of dealing in securities in Jakarta or that claims that it does must be registered with Bapepam as a securities companies. None of the firms inquired or complained about were registered.

Investors should be careful about dealing with stockbrokers that are not registered with Bapepam. It is illegal for a firm to deal in securities in Jakarta or to claim that it does when it is not registered. If an investor deals with an unregistered stockbroker, he will not have the full protection of the Indonesian Capital Market Law.

Therefore, Bapepam strongly recommends investors to ascertain whether a stockbroker is registered with Bapepam by visiting the Securities Companies section on Bapepam web site (http://www.bapepam.go.id) before they make any contact with any company that claims as a registered stockbroker.

Bapepam encourages investors, who believe that they have been approached by an unregistered stockbroker or who have been cold called, to email the details to bapepam@bapepam.go.id.

Bapepam will take appropriate enforcement action against those in Jakarta who are unregistered and who deal in securities or claim they do or who make cold calls and those who knowingly assist them. Bapepam will co-operate with its international counterparts in relation to those outside Indonesia who claim to operate from Jakarta.