Day: January 3, 2017

Perma No. 13/2016 on Corporate Crime

The Supreme Court finally published the long-awaited Regulation of the Supreme Court (Perma) to handle criminal offences committed by corporations. Perma No. 13/2016 specifically mentions that corporations can be a place to hide wealth that are proceeds of crime and thus left untouched by the law due to the legal vacuum on the issue. Indeed, the procedures and inspection guidelines against corporation as a criminal entity were not clearly regulated. And so the Supreme Court takes the role as the judicial power to fill the legal vacuum and provide guidelines for law enforcement officers in the handling of criminal cases committed by a corporations.

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Market: Domestic Investors Dominate

Today is the first trading day at the Indonesia Stock Exchange (IDX) for the year 2017. The composite index of IDX gained 15.32% during 2016, and many believe it will continue to gain this year on the back of domestic factors. Domestic investors are more optimistic, as reflected in their investment in capital market portfolios over last year.

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A Look Back on KPK’s Sting Operations (Part II)

Throughout 2016, the Corruption Eradication Commission (KPK) conducted dozens of Sting Operations (OTT) and expanded their investigations to more than 20 cases of corruption. Over 100 suspects comprised of State Officials, businessmen, and other parties were named. We summarized six OTT in the first article. In this second part, we summarize the 7th to the 12th OTT.

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Tax Amnesty & JP Morgan Chase Bank

The Finance Ministry (MoF) has, per January 1, 2017, taken out JP Morgan Chase Bank N.A. from its list of partners for the tax amnesty program. The MoF issued letter number S-10023/PB/2016 in Dec 9, 2016 to officiate the decision. After observing JP Morgan Chase Bank, the MoF believe that JP Morgan had interfered with the stability of the national financial system.

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