Jumat, Januari 20, 2023

OJK Introduces Guidelines for the Drafting and Submission of Adjusted Net Working Capital Reports

Following the issuance of Regulation of the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") No. 52/POJK.04/2020 on the Maintenance and Reporting of Adjusted Net Working Capital, the OJK has issued a set of guidelines on the drafting of Adjusted Net Working Capital (Modal Kerja Bersih Disesuaikan - "MKBD") forms, as well the submission and validation of MKBD reports through the issuance of Circular No. 2/SEOJK.04/2023 ("Circular 2/2023").
At its core, Circular 2/2023 requires securities companies ("Companies") to prepare MKBD reports through 10 available MKBD-related forms that include the following: 1) Daily trial balance reports for assets, liabilities and equities; 2) Ranking liabilities reports; 3) Concentrated risk calculations for mutual funds; 4) Fund auxiliary book reports; 5) Securities assistant ledger reports; and so forth. Details of said MKBD forms are comprehensively outlined under the Appendix to Circular 2/2023.
MKBD reports should be submitted to the OJK, the stock exchange ("Exchange") and/or clearing and guarantee agencies through the MKBD Reporting Center System (Sistem Pusat Pelaporan Modal Kerja Bersih Disesuaikan – "SPP-MKBD"), which will then validate Companies’ MKBD report values.
If by 08.30 WIB the SPP-MKBD has shown that Exchange-member Companies have failed to meet the minimum MKBD value, then said Companies will be prohibited from engaging in any Exchange transactions. However, if certain activities of Exchange-member Companies are excluded from MKBD calculations, then the relevant Exchange-member Companies must submit notifications to the Exchange in relation to said transactions within one day of the MKBD reporting deadline elapsing.
Circular 2/2023 comes into force on 10 July 2023.

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Following the issuance of Regulation of the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") No. 52/POJK.04/2020 on the Maintenance and Reporting of Adjusted Net Working Capital, the OJK has issued a set of guidelines on the drafting of Adjusted Net Working Capital (Modal Kerja Bersih Disesuaikan - "MKBD") forms, as well the submission and validation of MKBD reports through the issuance of Circular No. 2/SEOJK.04/2023 ("Circular 2/2023").
At its core, Circular 2/2023 requires securities companies ("Companies") to prepare MKBD reports through 10 available MKBD-related forms that include the following: 1) Daily trial balance reports for assets, liabilities and equities; 2) Ranking liabilities reports; 3) Concentrated risk calculations for mutual funds; 4) Fund auxiliary book reports; 5) Securities assistant ledger reports; and so forth. Details of said MKBD forms are comprehensively outlined under the Appendix to Circular 2/2023.
MKBD reports should be submitted to the OJK, the stock exchange ("Exchange") and/or clearing and guarantee agencies through the MKBD Reporting Center System (Sistem Pusat Pelaporan Modal Kerja Bersih Disesuaikan – "SPP-MKBD"), which will then validate Companies’ MKBD report values.
If by 08.30 WIB the SPP-MKBD has shown that Exchange-member Companies have failed to meet the minimum MKBD value, then said Companies will be prohibited from engaging in any Exchange transactions. However, if certain activities of Exchange-member Companies are excluded from MKBD calculations, then the relevant Exchange-member Companies must submit notifications to the Exchange in relation to said transactions within one day of the MKBD reporting deadline elapsing.
Circular 2/2023 comes into force on 10 July 2023.

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