OJK Introduces New Regulation to Promote Registration of Crowdfunding Service Providers as Private PSE

  • The Financial Services Authority (Otoritas Jasa Keuangan – "OJK") recently issued Regulation No. 16/POJK.04/2021 on the Amendment to Regulation of OJK No. 57/POJK.04/2020 on Securities Offerings Through Information-Technology-Based Crowdfunding Services ("Amendment") in an effort to encourage crowdfunding service providers to fulfill their obligation to register as official providers of electronic systems through the Ministry of Communication and Information Technology, as originally mandated under the framework of Regulation of the Minister of Communication and Information Technology No. 5 of 2020 on Electronic System Providers Within the Private Sector.
  • Furthermore, the Amendment prohibits non-registered crowdfunding service providers from handling any securities that are offered by issuers, unless said providers have already secured business licenses from the OJK extend their business activities so that they may operate as equity crowdfunding providers and offer crowdfunding services that involve the offering of equity shares.
  • In addition to the Amendment, the OJK has also issued the Circular on the Implementation of Risk Management in Relation to the Utilization of Information Technology by Non-Bank Financial Services Institutions, as an implementing regulation to Regulation of OJK No. 4/POJK.05/2021, which sets out further details and forms regarding the submission of reports under certain conditions, approval applications for the locations of data centers and/or overseas disaster recovery centers, and reports on critical events. (SETKAB)
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  • The Financial Services Authority (Otoritas Jasa Keuangan – "OJK") recently issued Regulation No. 16/POJK.04/2021 on the Amendment to Regulation of OJK No. 57/POJK.04/2020 on Securities Offerings Through Information-Technology-Based Crowdfunding Services ("Amendment") in an effort to encourage crowdfunding service providers to fulfill their obligation to register as official providers of electronic systems through the Ministry of Communication and Information Technology, as originally mandated under the framework of Regulation of the Minister of Communication and Information Technology No. 5 of 2020 on Electronic System Providers Within the Private Sector.
  • Furthermore, the Amendment prohibits non-registered crowdfunding service providers from handling any securities that are offered by issuers, unless said providers have already secured business licenses from the OJK extend their business activities so that they may operate as equity crowdfunding providers and offer crowdfunding services that involve the offering of equity shares.
  • In addition to the Amendment, the OJK has also issued the Circular on the Implementation of Risk Management in Relation to the Utilization of Information Technology by Non-Bank Financial Services Institutions, as an implementing regulation to Regulation of OJK No. 4/POJK.05/2021, which sets out further details and forms regarding the submission of reports under certain conditions, approval applications for the locations of data centers and/or overseas disaster recovery centers, and reports on critical events. (SETKAB)
......

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PROFESSIONAL

Rp 4.500.000

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  • Semua Fitur Paket Standard
  • Terjemahan Peraturan
  • Peraturan Konsolidasi
  • Premium Stories
  • Monthly Law Review (MLR)
  • Indonesian Law Digest (ILD)

STANDARD

Rp 2.500.000

per bulan

  • Indonesian Legal Brief (ILB)
  • Daily Updates
  • Bantuan Layanan Pencarian Peraturan
  • Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent