Wednesday, 17 June 2009

Scope of Stock Transactions Reporting to be Expanded

Supervisory Board of the Stock Exchange and Financial Institution [BAPEPAM-LK] expanded scope of reporting obligation of stock transaction including the acceleration and timing. This regulation was expected by the stockholders community to provide adequate information on the actual condition of stock exchange whereby the public might access the information of the transactions through the acceptor of the report. The points regulated in the transaction report were among others:

1. The stock whose transaction needed to be reported to the Supervisory Board of Investments [BAPEPAM] were not just bonds but also bonds like SUKUK, state bonds, and others stocks decided by the Chairman of BAPEPAM and Board of Consumers.

2. To add the type of stock to be reported including transfers due to merging, acquisition or taking over, buy back, transfer of stock in the settlements, pension plans at the stock exchange, conversion to other stocks, stock guarantee, and other transactions to be decided by the chairman of the BAPEPAM and Consumers Board [LK].

3. In principle the parties who were obliged to report stock transaction regulated hereby to the BAPEPAM-LK through acceptor of stock transaction were any capital owners making transactions.

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