Jakarta –
The Financial Services Authority (OJK) has again warned financial service institutions, especially in the capital market industry, to use influencer services. Because there are consequences in the form of criminal threats.
Member of the Board of Commissioners of the Financial Services Authority (OJK) for Consumer Education and Protection, Tirta Segara warned that the rules for providing stock recommendations are also regulated in the Capital Market Law.
“So if you do endorsements to influencers, you have to be careful. If the public buys on the endorsement, they can get in trouble,” he said in Bandung, Sunday (12/5/2021).
Tirta explained, in article 34 it is stated that those who can carry out activities as investment advisors are parties who have obtained a business license from Bapepam.
Then in article 93 it is stated that each party is prohibited in any way from making statements or providing information that is materially incorrect or misleading so as to affect the price of securities on the stock exchange if at the time the statement is made or information is given:
a. The party concerned or should know that the statement or information is materially incorrect or misleading
b. The party concerned is not careful enough in determining the material truth of the statement or information.
“This capital market law is still in place. So it is still in force as long as it is not against the OJK Law,” added Tirta.
Tirta reminded that if an endorsed influencer makes a recommendation to the public, it is against the rules of the law, if he is not an investment advisor who has a permit according to the provisions.
“Don’t let there be a conflict of interest. I mean, I buy shares first and then use influencers so that my share price goes up, right. After it goes up, I have to be careful, because if I do something wrong, there is a criminal threat and it must be licensed,” he stressed.
(the / zlf)
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