Indonesia lawmakers to grill candidates for top regulator jobs after market turmoil
CNA
JAKARTA, March 11 : Indonesia's parliamentary financial commission will on Wednesday assess candidates for top jobs at the Financial Services Authority after an equity market rout in January triggered a spate of resignations. The agency's chair, deputy chair, and the chief supervisor and deputy chief supervi
JAKARTA, March 11 : Indonesia's parliamentary financial commission will on Wednesday assess candidates for top jobs at the Financial Services Authority after an equity market rout in January triggered a spate of resignations.
The agency's chair, deputy chair, and the chief supervisor and deputy chief supervisor of capital markets quit suddenly on January 30, days after index provider MSCI warned it could downgrade Indonesia to "frontier" status due to transparency and governance issues in equities.
The MSCI warning triggered selloffs that within days had wiped about $120 billion off Indonesia's equity market, exacerbated by rating agency Moody's downgrading the country's sovereign credit rating outlook.
Among the 10 candidates the parliament is considering for five posts at the agency, known by its Indonesian abbreviation OJK, are the current interim chair Friderica Widyasari Dewi and interim capital market supervisor Hasan Fawzi.
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