JAKARTA (Yosefardi) – The Financial Services Authority (OJK) had on Monday (Dec 23) launched the investor protection funds, managed by PT Penyelenggara Program Perlindungan Investor Efek Indonesia (P3IEI) or Securities Investor Protection Fund (SIPF), to be effective on January 2014.
OJK said this is an effort to build the investors’ trust and confidence on the capital market of Indonesia. OJK is aware that many investors, mainly local players, have suffered losses in their investments on stocks due to the crimes. So, the investors as victims of the crimes should be helped or protected with the funds created by OJK.
Currently local investors only total around 300,000. While the crimes, earlier attacked the capital market of Indonesia, were such as mutual fund scandal at PT Sarijaya Permana Sekuritas which made its customers to suffer loss of funds amounting Rp235.6 billion, fake mutual funds issued by PT Antaboga Delta Sekuritas to customers of Bank Century worth Rp1.4 trillion, and fake bonds issued by Bank Global amounting Rp150 billion.