- The Board of Directors of PT Bursa Efek Indonesia ("BEI") has issued Decree No. Kep-00038/BEI/03-2024 on Changes to Provisions for Alternative Market Organizer System (Sistem Penyelenggara Pasar Alternatif – "SPPA") Services Users, which has been in force since 13 March 2024.
- The issuance of this new Decree has resulted in the repeal and replacement of Decree of the PT BEI Board of Directors No. Kep-00092/BEI/11-2020.
- A number of changes have now been made to provisions that specifically address SPPA service users (collectively referred to as "Service Users"), which include the addition of several requirements that have to be met in order to become Service Users, including the stipulation of parties that will represent Service Users when engaging in correspondence with the relevant alternative market organizers (penyelenggara pasar alternatif – "PPA") in line with certain provisions. Moreover, a further adjustment has been introduced that allows PPA to revoke SPPA Approval Letters (Surat Persetujuan SPPA/SPPJ-SPPA), specifically if the Recipients of Securities Transaction Reports (Penerima Lapiran Transaksi Efek/PLTE) have revoked Participant Registration Certificates (Surat Tanda Daftar Partisipan/STDP) that have been secured by Service Users.
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