BNI Securities Investigation Completed
Monday, 08 January, 2007 | 17:12 WIB

TEMPO Interactive, Jakarta: The Capital Market Supervisory Agency (Bapepam) has completed its investigation over BNI Securities’ inappropriate market value.

Bapepam's investigators are currently in the process of collecting evidence.

“This includes documents from BNI Securities such as correspondence between investment managers and custodian banks,” said Wahyu Hidayat, Head of Bapepam's Interrogation & Investigation, last weekend.

In the middle of last year, Bapepam had already determined two suspects from BNI Securities and PT BNI Tbk.

The investigation process was carried out by summoning eight witnesses in the case of inappropriate market value violations as regards BNI Securities mutual funds portfolio.

In addition, Bapepam investigated two mutual funds products of BNI subsidiaries and BNI Investment products.

“We have summoned a total of 11 witnesses,” said Wahyu.

The case started with inappropriate market value violations by BNI Securities in mid 2005.

The capital market authority has scrutinized four investment managers involved: BNI Securities, PT Trimegah Investment, PT Bahana and PT Mandiri Manajemen.

BNI Securities has been fined Rp500 million and Trimegah Rp83 million.

YULIAWATI