JAKARTA: Capital Market and Financial Institution Watchdog (Bapepam-LK) will investigate four investment institutions with regard to a violation on Capital Market Regulation that disadvantage investors.Head of Bapepam-LK Nurhaida said that the institution will monitor investment activities, involving society and potentially violating any regulation.He declines to disclose the investment companies as at the moment Bapepam-LK is still investigating.According to him, there are two indications of violations done by companies that do not have any official license to serve as investment manager yet they still collect fund from more than 50 companies.There are three until four investment managers that are now being investigated. We will then see whether or not they will obey the regulation. Capital market regulation stated that the rights issue must be approved by 50 companies yet, sometimes only 49 companies approved such rights issue for then being further split out, he said yesterday.Referring to Article 1 section 15 on Capital Market regulation, rights issue is an offering of securities by listed companies to more than 100 parts or have been sold to more than 50 parts.With regard to such regulation, every company offers to more than 50 parts is obliged to obtain a license from Bapepam-LK.Nurhaida said that Bapepam-LK once reported PT Balicon Life Insurance as the company had disadvantaged the company. Balicon Life is an investment company that is not registered in Bapepam-LK.We establish inter department special force as we also partner with Police and national attorney to monitor any possible frauds just like in Bali. The special force will handle this in one team, Nurhaida added.Although it is considered for having disadvantaged society, such fraud possibly will not be monitored by Financial Services Authority.Head of Regulation and Legal Assistance Bureau of Bapepam-LK, Robinson Simbolon previously said that the OJK is possibly responsible for investment agencies whose products are recognized by Bank Indonesia and Bapepam-LK. (t02/msw)

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