OJK Redefines Parameters for Significant Fluctuations Within the Capital Market

In 2013, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued Regulation No. 2/POJK.04/2013 on Share Buybacks Undertaken by Issuers and Public Companies During Significantly Fluctuating Market Conditions (“Regulation 2/2013”),[1] which set out various provisions that aimed to minimize the effects of any significant fluctuations that were experienced within the capital market (“Fluctuations”) by ensuring that issuers and public companies complied with relevant laws and regulations whenever engaging in share buybacks.[2]