Supervision Measures for Non-Bank Financial Services Institutions Enhanced

In a bid to ensure early risk detection within non-bank financial services institutions and to therefore minimize any harm that may be sustained by the users of said institutions, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") recently issued Regulation No. 9/POJK.05/2021 (“Regulation 9/2021”) which contains a more comprehensive, detailed set of guidelines that address status designations and supervisory follow-up actions for non-bank financial services institutions (lembaga jasa keuangan nonbank – “LJKNB”).[1] Broadly speaking, the scope of the new guidelines encompass the following matters: