PVML to Face Special or Intensive Supervision Based on Specific Criteria

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is currently preparing a Draft Regulation (“Draft Regulation”) on the Supervision, Stipulation of Supervision Status and Supervision Follow-ups for Financing Institutions, Venture-Capital Companies, Micro-Financing Institutions and Other Financial Services Institutions (Lembaga Pembiayaan, Perusahaan Modal Ventura, Lembaga   Keuangan   Mikro,   dan   Lembaga   Jasa  Keuangan Lainnya - “PVML”). The Draft Regulation states that the OJK is authorized to supervise PVML both directly (i.e. directly and/or electronically)[1] and indirectly. PVML comprise the following institutions:[2]