Senin, Oktober 23, 2023

OJK Set to Integrate Framework on the Organization of Financing Services Business

Following the issuance of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector ("Law 4/2023"), the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") is currently in the process of drawing up a Draft Regulation ("Draft Regulation") that will specifically address various matters that relate to the organization of financing services business.
The Draft Regulation is set to integrate seven currently applicable OJK frameworks into a book format, which will amend, revoke and/or stipulate new provisions for said frameworks when it ultimately comes into force. At the time of writing, the Draft Regulation comprised a total of 165 pages, eight articles and three books, with each article spanning a long list of numbered elements.
In terms of its content, the Draft Regulation breaks down the above-described books as follows: 1) First Book: Development and Strengthening of Conventional and Sharia Financing Companies; 2) Second Book: Development and Strengthening of Infrastructure Financing Companies; and 3) Third Book: Development and Strengthening of Venture Capital Companies.
Furthermore, the Draft Regulation also specifies provisions that specifically address the development of human resources across the above-outlined companies, as well as the imposition of applicable administrative sanctions, as originally mandated under Law 4/2023.
The OJK is currently soliciting input on the Draft Regulation until a deadline of 31 October 2023. Said input may be submitted via the following email addresses: Elinsyi Rahayu ([email protected]) and Christo Jeremy ([email protected]).

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*Syarat dan ketentuan berlaku

Following the issuance of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector ("Law 4/2023"), the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") is currently in the process of drawing up a Draft Regulation ("Draft Regulation") that will specifically address various matters that relate to the organization of financing services business.
The Draft Regulation is set to integrate seven currently applicable OJK frameworks into a book format, which will amend, revoke and/or stipulate new provisions for said frameworks when it ultimately comes into force. At the time of writing, the Draft Regulation comprised a total of 165 pages, eight articles and three books, with each article spanning a long list of numbered elements.
In terms of its content, the Draft Regulation breaks down the above-described books as follows: 1) First Book: Development and Strengthening of Conventional and Sharia Financing Companies; 2) Second Book: Development and Strengthening of Infrastructure Financing Companies; and 3) Third Book: Development and Strengthening of Venture Capital Companies.
Furthermore, the Draft Regulation also specifies provisions that specifically address the development of human resources across the above-outlined companies, as well as the imposition of applicable administrative sanctions, as originally mandated under Law 4/2023.
The OJK is currently soliciting input on the Draft Regulation until a deadline of 31 October 2023. Said input may be submitted via the following email addresses: Elinsyi Rahayu ([email protected]) and Christo Jeremy ([email protected]).

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