The Indonesia Financial Services Authority imposed administrative fines totaling IDR 2.1 trillion on parties involved in market misconduct concerning PT Dian Swastatika Sentosa Tbk, or DSSA, and the public offerings of PT Barito Renewables Energy Tbk, or BREN, and PT Petrindo Jaya Kreasi Tbk, or CUAN. The fines comprise IDR 1.5 trillion for DSSA share transactions, IDR 500 billion for BREN allocations and IDR 100 billion for CUAN allocations. The authority found that individual and institutional clients used several exchange members to conduct planned and structured manipulation of DSSA shares between 2024 and 2026, causing a substantial price increase and generating unlawful gains. It also found violations by securities company directors and froze their individual licenses. For BREN and CUAN, the authority found that large allocations had been planned for parties connected to the controlling shareholders. Those parties obscured their identities when placing orders, concentrating ownership among a limited group and restricting the shares available in the market. The action forms part of wider capital markets enforcement under which the authority and self-regulatory organizations sanctioned or otherwise pursued at least 835 parties from January through October 2026.
Indonesia Financial Services Authority imposes IDR 2.1 trillion in fines over DSSA manipulation and BREN and CUAN share allocations
The Indonesia Financial Services Authority imposed IDR 2.1 trillion in fines for planned manipulation of DSSA shares and improper allocations in the BREN and CUAN public offerings. The misconduct generated unlawful gains, concentrated BREN and CUAN ownership among parties linked to controlling shareholders and also led to the freezing of individual licenses held by securities company directors.