The stock market regulator is to introduce a stricter regulation on transparency and accountability that will require financial services institutions in the capital market to verify data regarding their clients. The regulation will oblige securities firms, mutual fund managers and custodian banks to collect and verify all information about their investors before confirming them as clients and allowing them to open accounts. Bapepam will also be able to impose sanctions on those who fail to comply.
Source: PA Asia: The Jakarta Post, 5 October, p.13
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