Kamis, September 2, 2021

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)

......

Subscribe to read more legal analysis.

Hukumonline Pro Intelligence

Platform AI hukum terpercaya sebagai solusi komprehensif riset Anda

Professional Solutions

University Solutions

Pro

Rp 5.000.000 /bulan

Jadwalkan Demo

Lihat Detail

Pro AI

Terfavorit

Rp 8.200.000 /bulan

Jadwalkan Demo

Lihat Detail

Pro Compliance

New

Rp 12.500.000 /bulan

Jadwalkan Demo

Lihat Detail

*Syarat dan ketentuan berlaku

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)

......