Rancak Media – JAKARTA — Finance Minister Purbaya Yudhi Sadewa recently addressed the crucial advancements in combating rampant market manipulation, particularly concerning prevalent “pump-and-dump” stock schemes within Indonesia’s financial landscape.
Minister Purbaya emphasized his keen anticipation of decisive actions from both the Indonesia Stock Exchange (BEI) and the Financial Services Authority (OJK) to rigorously eradicate these illicit stock manipulation and “pump-and-dump” practices.
“I will observe, and we will continue to monitor closely. We need to see if they [OJK] are truly serious about this matter,” Purbaya stated emphatically after the opening of BEI trading in Jakarta on Friday, January 2, 2026.
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Furthermore, Purbaya revealed that the Ministry of Finance currently has no plans to issue incentives for the Stock Exchange in 2026. This decision, he explained, stems from the fact that the BEI has not yet submitted any requests for such incentives to the Ministry of Finance.
“If they were to request incentives, I would immediately question their achievements. How many individuals have been apprehended and brought to justice?” Purbaya asserted, linking incentives directly to tangible results in market oversight.
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This firm stance from the Finance Minister is consistent with his earlier remarks. Previously, Purbaya Yudhi Sadewa had conveyed that the Ministry of Finance would withhold incentives for the capital market until the BEI effectively regulated investor behavior, including taking firm control over “pump-and-dump” stocks. He reiterated this position during a visit to the BEI earlier this month.
“Earlier, the Stock Exchange Director also persistently requested incentives, which I have yet to grant. Therefore, I explicitly stated that I would only provide incentives once investor behavior in the capital market is properly managed and orderly,” Purbaya recounted from late last year, highlighting the prerequisite for market integrity.
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Meanwhile, Inarno Djajadi, the Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision at the OJK, affirmed that the establishment of a specialized task force is integral to the broader market deepening initiatives undertaken by capital market regulators. He elaborated on the OJK’s strategic focus for market deepening, which encompasses bolstering investor demand, diversifying product offerings, and strengthening the overall infrastructure of the capital market.
“Beyond these efforts, matters concerning law enforcement can certainly be discussed within this framework. After all, trading on the exchange must fundamentally be safe, transparent, and fair. It is precisely within this domain that the task force will play a crucial role in upholding law enforcement,” Inarno emphasized during a statement made in Ubud, Bali.
While Inarno could not yet confirm the exact launch date of this vital task force, he underscored that active discussions regarding its implementation are well underway. He further clarified that this formidable task force represents a collaborative effort across multiple key institutions, involving the OJK, the Ministry of Finance, the BEI, the Indonesia Clearing and Guarantee Corporation (KPEI), and the Indonesia Central Securities Depository (KSEI).
Summary
Finance Minister Purbaya Yudhi Sadewa urged
