The Financial Services Authority (“OJK”) in carrying out its supervisory duties, is vested with the authority to issue written order (or perintah tertulis) to Financial Services Institutions (“LJK”) and/or “certain parties” (or pihak tertentu). Any issuance of written orders by OJK is
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While the obligation for Indonesian financial services institutions to compose and implement anti-fraud strategy generally exists, the fact that there is considerable amount of fraud cases transpired in financial service institutions has driven OJK to improve the regulation as well as to
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Based on mandate of Law No. 4 of 2023 on Development and Strengthening of Financial Sector and in conjunction with Bank Indonesia Regulation No. 3 of 2023 on Consumer Protection of Bank Indonesia, Bank Indonesia has issued Bank Indonesia Regulation No. 3
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OJK has just issued Regulation No. 4 of 2024 on Report on Ownership or Any Change of Ownership in Public Company and Report on Activity in Securing of Shares of Public Company (“POJK 4/2024”). POJK 4/2024 however will only come into effect
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Further to Law No. 4 of 2023 on Development and Strengthening of Financial Sector (“P2K Law”), Bank Indonesia (“BI”) issues Regulation No. 6 of 2023 on Money Market and Foreign Exchange Market (“PBI 6/2023”) on 27 June 2023. Communities in financial sector
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The law that everyone has been waiting now eventually comes into existence. Following the enactment of Law No. 27 of 2022 on Personal Data Protection (“PDP Law”), Indonesia now has its own personal data protection law which contains ‘comprehensive’ set of personal
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