Shares Buybacks Regulated By OJK

Following the issue of its first Regulation on consumer protection[1], the Financial Services Authority (“Otoritas Jasa Keuangan – “OJK”) has issued Regulation No.2/POJK.04/2013 on Share Buybacks of Issuers and Publicly Listed Companies in Significantly Fluctuating Market Conditions (“Buyback Regulation”).

The Buyback Regulation provides a basis for issuers and publicly listed companies to repurchase shares both on and outside the stock exchange at times of significantly fluctuating market conditions.