Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Andin Aditya Rahman
The Financial Services Authority (OJK) is currently drafting a regulation to protect the consumers when they invest in in retail mutual funds. Kusumaningtuti S. Setiono, Member of OJK’s board of commissioners, asserted that the regulation aims to increase investments in mutual funds.
“It is very important for us to educate the public. Hence it will encourage more retail mutual funds,” stated Kusumaningtuti in Jakarta on Thursday.
OJK also encourages protection of small consumers in mutual fund businesses. This is also considered important to increase mutual fund investments.
“It is important for us to protect small consumers. The mechanism, however, is a little different because retail mutual funds are also available in minimarkets. Therefore, there will be specific matters that we must address,” explained Kusumaningtuti.
OJK’s move is applauded by Inosentius Samsul, a consumer protection academic at University of Indonesia. While applauding the upcoming policy, Inosentiues emphasizes that it must be simple and easily understood by the public. Otherwise, it will only spark conflicts in mutual fund investments.
“The important thing is the clarity on the type of products because sometimes it’s dualism. Whether it is included in the capital market or banking regime, it must be clear. So affirming the gender of the product is important,” Inosentius says.
Inosentius continues that the rights and obligations of consumers are also important aspects to be specified in the regulation. For instance, the risks in the obligations of consumers, as well as the liability of businesses if the consumer suffers financial losses.
“It is clear that the rights and obligations are the main thing for investors,” Inosentius states.
Inosentius provides an example of Japan that has enforced regulations on retail mutual funds, which even includes provisions on door-to-door sales.
The provisions are carefully drafted, incorporating matters on ethics in offering the products, how to explain details of the products, as well as the prohibition of coercing consumers.
“Because all issues of financial services start from providing unclear product information,” Inosentius concludes.
(hot/kc)
Fathan Qorib, Andin Aditya Rahman
The Financial Services Authority (OJK) is currently drafting a regulation to protect the consumers when they invest in in retail mutual funds. Kusumaningtuti S. Setiono, Member of OJK’s board of commissioners, asserted that the regulation aims to increase investments in mutual funds.
“It is very important for us to educate the public. Hence it will encourage more retail mutual funds,” stated Kusumaningtuti in Jakarta on Thursday.
OJK also encourages protection of small consumers in mutual fund businesses. This is also considered important to increase mutual fund investments.
“It is important for us to protect small consumers. The mechanism, however, is a little different because retail mutual funds are also available in minimarkets. Therefore, there will be specific matters that we must address,” explained Kusumaningtuti.
OJK’s move is applauded by Inosentius Samsul, a consumer protection academic at University of Indonesia. While applauding the upcoming policy, Inosentiues emphasizes that it must be simple and easily understood by the public. Otherwise, it will only spark conflicts in mutual fund investments.
“The important thing is the clarity on the type of products because sometimes it’s dualism. Whether it is included in the capital market or banking regime, it must be clear. So affirming the gender of the product is important,” Inosentius says.
Inosentius continues that the rights and obligations of consumers are also important aspects to be specified in the regulation. For instance, the risks in the obligations of consumers, as well as the liability of businesses if the consumer suffers financial losses.
“It is clear that the rights and obligations are the main thing for investors,” Inosentius states.
Inosentius provides an example of Japan that has enforced regulations on retail mutual funds, which even includes provisions on door-to-door sales.
The provisions are carefully drafted, incorporating matters on ethics in offering the products, how to explain details of the products, as well as the prohibition of coercing consumers.
“Because all issues of financial services start from providing unclear product information,” Inosentius concludes.
(hot/kc)