KONTAN.CO.ID - JAKARTA. The chief of Indonesia's financial regulator and other officials of the body resigned on Friday in order to take "responsibility" for a massive market selloff this week, a statement from the financial regulator said, a day after an US$ 80 billion market sell-off. Earlier in the day, the chief of the IDX stock exchange also resigned after the market rout that began on Wednesday after a warning from index provider MSCI of a possible downgrade because of issues of transparency at the exchange. The statement said Mahendra Siregar, the chief of the Financial Services Regulator - also known as OJK - resigned along with other officials, including the chief executive of capital markets as a "moral responsibility" to support the necessary recovery steps.
Indonesia Financial Regulator Chief Resigns After US$ 80 Billion Market Rout
KONTAN.CO.ID - JAKARTA. The chief of Indonesia's financial regulator and other officials of the body resigned on Friday in order to take "responsibility" for a massive market selloff this week, a statement from the financial regulator said, a day after an US$ 80 billion market sell-off. Earlier in the day, the chief of the IDX stock exchange also resigned after the market rout that began on Wednesday after a warning from index provider MSCI of a possible downgrade because of issues of transparency at the exchange. The statement said Mahendra Siregar, the chief of the Financial Services Regulator - also known as OJK - resigned along with other officials, including the chief executive of capital markets as a "moral responsibility" to support the necessary recovery steps.
