The Financial Services Authority suspend the operations of PT Dharmatama Megah Finance (DMF). DMF has been penalized third warning, because it does not meet the recommendation on direct examination results of the final report.
Said Deputy Commissioner Financial Industry Supervision of Non-Bank (IKNB) FSA, Dumoly F. Pardede said the company’s organizational structure did not describe their risk management function and application of the principle of know your customer.
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Dumoly asserted, Dharmatama not comply with the provisions of Article 14 POJK No. 28 / POJK.05 / 2014 on Licensing of Business and Institutional Financing Company. Furthermore, based on the results of monitoring the FSA on the fulfillment of the provisions of Article 14 of the POJK is, until the time limit warning letters to an end, the company had sent a letter No. 002 / DTM-FSA / IV / 2016 dated 27 April 2016 it Submission Guidelines P4MN, Guidelines governance and Risk Management Guidelines.
However, in the letter DMF has not submitted a reorganization that describe the risk management function and the principle of know your customer that comes with the job description, authority, responsibility, working procedures in writing to OJK.Maka of the PT DMF penalized suspension of business activity said Dumoly.