Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fitri Novia Heriani, IGAP Trisnajaya
The Financial Service Authority (OJK) began taking over some supervisory functions for the Capital Market Supervisory Agency (Bapepam LK) on 1 January 2013, in a process that will end in 2014 with the full transfer of Bapepam LK authority to the OJK.
When the transfer is complete, Bapepam LK will no longer exist as a regulating agency, and Bank Indonesia—while retaining other functions—will no longer supervise everyday banking activities.
However, so far the OJK has only taken over regulation and supervision of capital markets, notably including the stock exchange and equity flows.
Eventually, the transfer will result in the OJK being a centralized finance and banking regulatory body.
With the transfer of authorities that have taken place thus far, “they are basically still the same, in my opinion,” said Seto Wardono, an economist with expertise on capital markets, when contacted by Hukumonline yesterday (8/1).
Law No 21 of 2011 on the Financial Service Authority brought the OJK into being, giving it authority to supervise the financial sectors and capital markets.
In 2011, the Ministry of Finance and the House of Representatives appointed Muliaman Hadad as the Head of the OJK for a five-year term.
Rayendra L Tobing, the Director of Investment Banking of PT Indo Premier Securities, did however tell Hukumonline (8/1) that the OJK authority transfer is significant because, while still sharing many authorities with Bapepam LK, it also has broader authority to coordinate with more regulating agencies and other financial institutions.
Even with the few capital market-related authorities that have been transferred thus far, he said, “I think that the OJK [authority] will bring positive changes, especially by integrating the regulatory framework [within the sector].”
Rayendra said that, so far, the transfer of authority from Bapepam LK to OJK has been smooth; it did not raise any shocks to capital market activities.
But the investment director was reluctant to comment on the service fees imposed by OJK to finance institutions.
Service fees imposed by the OJK on financial institutions have been a topic of hot discussion in financial and banking sectors: some say it will be a burden, and the fees will be calculated on the basis of capital asset ratios, so as to almost punish institutions with larger asset pools.
The OJK service fees will be regulated by a Government Regulation that is expected to be released midway through 2013.
Full transfer of authorities to the OJK, including banking supervision and regulation, will begin in 2014.
(eli)
Fitri Novia Heriani, IGAP Trisnajaya
The Financial Service Authority (OJK) began taking over some supervisory functions for the Capital Market Supervisory Agency (Bapepam LK) on 1 January 2013, in a process that will end in 2014 with the full transfer of Bapepam LK authority to the OJK.
When the transfer is complete, Bapepam LK will no longer exist as a regulating agency, and Bank Indonesia—while retaining other functions—will no longer supervise everyday banking activities.
However, so far the OJK has only taken over regulation and supervision of capital markets, notably including the stock exchange and equity flows.
Eventually, the transfer will result in the OJK being a centralized finance and banking regulatory body.
With the transfer of authorities that have taken place thus far, “they are basically still the same, in my opinion,” said Seto Wardono, an economist with expertise on capital markets, when contacted by Hukumonline yesterday (8/1).
Law No 21 of 2011 on the Financial Service Authority brought the OJK into being, giving it authority to supervise the financial sectors and capital markets.
In 2011, the Ministry of Finance and the House of Representatives appointed Muliaman Hadad as the Head of the OJK for a five-year term.
Rayendra L Tobing, the Director of Investment Banking of PT Indo Premier Securities, did however tell Hukumonline (8/1) that the OJK authority transfer is significant because, while still sharing many authorities with Bapepam LK, it also has broader authority to coordinate with more regulating agencies and other financial institutions.
Even with the few capital market-related authorities that have been transferred thus far, he said, “I think that the OJK [authority] will bring positive changes, especially by integrating the regulatory framework [within the sector].”
Rayendra said that, so far, the transfer of authority from Bapepam LK to OJK has been smooth; it did not raise any shocks to capital market activities.
But the investment director was reluctant to comment on the service fees imposed by OJK to finance institutions.
Service fees imposed by the OJK on financial institutions have been a topic of hot discussion in financial and banking sectors: some say it will be a burden, and the fees will be calculated on the basis of capital asset ratios, so as to almost punish institutions with larger asset pools.
The OJK service fees will be regulated by a Government Regulation that is expected to be released midway through 2013.
Full transfer of authorities to the OJK, including banking supervision and regulation, will begin in 2014.
(eli)