Overview

As the year 2023 drew to a close, Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued several new regulations of note, including Regulation No. 22 of 2023 on Consumer and Public Protection Within the Financial Services Sector (“Regulation 22/2023”). This new framework has been issued as a part of efforts to further strengthen consumer and public protection within the financial services sector and to harmonize various OJK regulations that previously addressed similar matters.