JAKARTA- The Financial Services Authority (OJK) revoked the brokerage license of PT Merrill Lynch Sekuritas Indonesia. After this, the company is only allowed to act as an underwriter.
As quoted from the company's disclosure, the revocation of the license was contained in a letter from the Board of Commissioners of OJK, signed by the Chief Executive of Capital Market Supervisory Hoesen, on 14 November 2019. The letter stated that on September 25, 2019, Merill submitted a letter to return its brokerage license to the OJK.
After this, the company is prohibited from using names and logos for purposes and activities related to the brokerage. (LK/AR)