Provisions on LJKNB Primary Party Reassessments Amended

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued Circular No. 32/SEOJK.05/2022 (“Amendment”), which amends Circular No. 15/SEOJK.05/2019 (“Circular 15/2019”) on Reassessments of the Primary Parties of Non-Bank Financial Services Institutions (Lembaga Jasa Keuangan Non-Bank – “LJKNB”).[1] The Amendment has been introduced in order to bring the original circular into line with the issuance of Regulation No. 14/POJK.03/2021 (“Regulation 14/2021”), which amends a number of provisions that address reassessments of the primary parties of financial service institutions in general.[2]