Kartini L. Makmur, Andin Aditya Rahman
The Government has been focusing on the restructuring and redrafting of regulations to simplify investment permit procedures. Unfortunately, the simplification ofpermit processes has not being followed up by stringent supervision, resulting in abuses of investment permits.
Kusumaningtuti Sandriharmy, member of the Board of Commissioners at the Financial Services Authority, concludes that steps must be taken to revitalize the oversight of investment licenses.
She also points out that there are numerous financial institutions that are conducting business activities withdisregard to terms of their license. According to her, this has caused the advent of widespread bogus investment products.
“We must be active in monitoring the market and how services and products are offered by financial and non-financial institutions. Whether they are in accordance with the prescribed provisions or not,” she explained.
Arif Budimanta, member of Commission XI at the House of Representatives, affirmed Kusumaningtuti’s opinion by stating that the oversight of investment permits must commence from the initial application stages.
According to Arif, the licensing process itself must be imbued with proper classification of investment products, and therefore close loopholes for bogus investment schemes.
“At the commencement of the the licensing process, there must be a thorough examination of the license, therefore stopping the possibility of anyone starting a fake investment business. Indeed, this requires good coordination between institutions,” he stated.
Sutito, Director of the Investor and Customer Protection Agency (Badan Perlindungan Investor dan Nasabah), acknowledged that the prevention of bogus investment products must be carried out with supervision at the early stages of the investment licensing process.
He further added that the Government remains in anticipation of more complaints from the public. The problem is, according to Sutito, many people are reluctant to report bogus investment companies because they are afraid they will not get any returns or get their investment back.
“These bogus investment products are not crimes simply with formal complaints [delik aduan], and therefore, the Government must be proactive,” Sutito said.
(hot/kc)
Kartini L. Makmur, Andin Aditya Rahman
The Government has been focusing on the restructuring and redrafting of regulations to simplify investment permit procedures. Unfortunately, the simplification ofpermit processes has not being followed up by stringent supervision, resulting in abuses of investment permits.
Kusumaningtuti Sandriharmy, member of the Board of Commissioners at the Financial Services Authority, concludes that steps must be taken to revitalize the oversight of investment licenses.
She also points out that there are numerous financial institutions that are conducting business activities withdisregard to terms of their license. According to her, this has caused the advent of widespread bogus investment products.
“We must be active in monitoring the market and how services and products are offered by financial and non-financial institutions. Whether they are in accordance with the prescribed provisions or not,” she explained.
Arif Budimanta, member of Commission XI at the House of Representatives, affirmed Kusumaningtuti’s opinion by stating that the oversight of investment permits must commence from the initial application stages.
According to Arif, the licensing process itself must be imbued with proper classification of investment products, and therefore close loopholes for bogus investment schemes.
“At the commencement of the the licensing process, there must be a thorough examination of the license, therefore stopping the possibility of anyone starting a fake investment business. Indeed, this requires good coordination between institutions,” he stated.
Sutito, Director of the Investor and Customer Protection Agency (Badan Perlindungan Investor dan Nasabah), acknowledged that the prevention of bogus investment products must be carried out with supervision at the early stages of the investment licensing process.
He further added that the Government remains in anticipation of more complaints from the public. The problem is, according to Sutito, many people are reluctant to report bogus investment companies because they are afraid they will not get any returns or get their investment back.
“These bogus investment products are not crimes simply with formal complaints [delik aduan], and therefore, the Government must be proactive,” Sutito said.
(hot/kc)