OJK Regulates Information Disclosure for Issuers and Public Companies Required to Declare Bankruptcy

Further cementing in place the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) mandate to replace the Capital Market and Financial Institutions Supervisory Board (Badan Pengawas Pasar Modal dan Lembaga Keuangan – “BAPEPAM-LK”),[1] the OJK has now issued Regulation  No. 26/POJK.04/2017 of 2017 on Bankruptcy Information Disclosure for Issuers and Public Companies (“Regulation 26/2017”), which replaces BAPEPAM-LK Regulation No. Kep-46/PM/1998 on the same matters (“Regulation X.K.5”).
 
In essence, Regulation 26/2017 makes no significant alteration to any of the provisions which were originally set out under Regulation X.K.5, however Regulation 26/2017 does set out various new provisions which relate to the issue of administrative sanctions. Therefore, our discussion of Regulation 26/2017 will revolve around the following matters: