KONTAN.CO.ID - JAKARTA. Throughout 2021, the Financial Services Authority (OJK) has imposed sanctions on multi-finance companies. The sanctions given are in the form of business freezing to license revocation.

Most recently, the regulator has frozen the business of PT Trevi Pelita Multifinance because it does not comply with the provisions in the field of finance companies. This decision is contained in Number S-138 / NB.2 / 2021 dated May 19, 2021.

"OJK has frozen the business activities of the Financing Company because it does not comply with the provisions of Article 87 paragraph (2) letter b POJK Number 35 / POJK.05 / 2018 concerning Business Conduct of Financing Companies," said Deputy Commissioner for Supervision of Non-Bank Financial Industry (IKNB) II OJK. Moch. Ihsanudiin, Monday (24/5).

This regulation states, a limited liability company that has obtained a business license before the POJK is enacted, is required to have equity of at least Rp 100 billion. This provision will be fulfilled by the end of 2019 at the latest.

"With the suspension, companies are prohibited from conducting business activities," he concluded.