BAPPEBTI Issues New Regulation on Licensing of Futures Broker Representatives: Participation in Twice Yearly P4WPB Now Mandatory

The Commodities Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – “Bappebti”) has issued a new legal framework on Licenses for Futures Broker Representatives (“Representatives”) through the issuance of Regulation No. 9 of 2022 (“Regulation 9/2022”). This new regulation has been issued in an effort to enable and enhance equal opportunities for all parties aiming to become Representatives. As a result of the issuance of Regulation 9/2022, the previous legal frameworks on licenses for Representatives, specifically Regulation of Bappebti No. 2 of 2018, which has been amended several times, most recently through the issuance of Regulation of Bappebti No. 9 of 2020 (collectively referred to as “Regulation 2/2018”), has now been replaced and repealed.