Economy in brief: Transasia focuses on brokerage business
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JAKARTA: PT Transasia Securities will focus on securities brokerage and underwriting business in line with the new capital market regulation that requires securities firms to separate their asset management activities.
Transasia said that it had “returned” the asset management permit to the Capital Market and Financial Services Supervisory Agency (Bapepam-LK) as part of the fulfillment of Bapepam’s regulation (V.A.3) to segregate asset management activities from the brokerage business.
“Transasia has established a separate entity for its asset management business,” the company said in a statement to clarify The Jakarta Post’s report on this page on Thursday. The report said that Bapepam had revoked Transasia’s licenses.