Behavior of Securities Brokers Regulated by OJK

In a bid to provide clarity and certainty as regards the behavior of securities companies acting as securities brokers,[1] the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) recently issued Regulation No. 3/POJK.04/2020 on the Behavior of Securities Companies Engaging in Business Activities as Securities Brokers (“Regulation 3/2020”).

Previously, similar matters were regulated under Decree of the Head of the Capital Market Institutions Supervisory Agency (Badan Pengawas Pasar Modal / Bapepam) No. Kep-29/PM/1996  on the Behavior of Securities Companies Engaging Activities as Securities Brokers (“Decree 29/1996”), which now has been repealed and replaced through the issuance of Regulation 3/2020.[2]