Technical Guideline for Marketing Financial Services and Products

As part of efforts to improve consumer protection in the financial services sector,[1] the Financial Services Authority (“OJK”) has issued Circular Letter No. 12/SEOJK.07/2014 on Presentation of Information for Marketing Financial Services or Products (“2014 Circular Letter”).

In essence, the 2014 Circular Letter provides marketing conduct guidelines for financial service providers in directly or indirectly offering their services/products (i.e. websites, commercial advertisments, brochures, telemarketing, etc). Additionally, the 2014 Circular Letter also affirms financial service providers’ responsibility for actions taken by their marketing agents.