Rabu, Oktober 23, 2024

BEI Introduces New Regulatory Framework on KIK-EBA Listings: Grace Period for Investment Managers Introduced

The Corporate Secretary of PT Bursa Efek Indonesia (“BEI”), Kautsar Primadi Nurahmad (“Corporate Secretary”), has affirmed that the recent introduction of Rule No. I-K (“Rule I-K”) as the Appendix to Decree of the Board of Directors of BEI No. KEP-00167/BEI/10-2024 (“Decree 167/2024”) on the Listing of Asset-Backed Securities (Efek Beragun Aset – “EBA”) in the Form of Collective Investment Contracts (Kontrak Investasi Kolektif – “KIK”) is among various BEI initiatives that aim to further simplify the mechanism for the listing of EBA and improve overall information transparency.
In terms of the above-mentioned Rule I-K, the Corporate Secretary has explained that investment managers are required to submit their listing documents via an electronic system that will be further stipulated by BEI. Furthermore, Rule I-K also sets out a number of specific periodic reporting requirements that should ensure further transparency and improved supervision in relation to listed EBAs.
In order to ensure the smooth implementation of the new framework, the Corporate Secretary has affirmed that a transition period will apply to investment managers in terms of the submission of listing documents. During this transition phase, said documents may be submitted via compact disk (CD), hard disk or similar media.
It should also be noted that the Corporate Secretary has also affirmed that BEI will be offering a 50% incentive discount on the annual applicable listing fees for EBAs. Said discounts will be available for a five-year period up until a final deadline of 16 October 2029.
Ultimately, the Corporate Secretary is hopeful that the new framework of Rule I-K will further encourage greater numbers of EBA issuers to list their products through BEI. This, in turn, should lead to improved investment choices for prospective investors, contributing to the overall development of Indonesia’s capital market sector. _(ANT)

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The Corporate Secretary of PT Bursa Efek Indonesia (“BEI”), Kautsar Primadi Nurahmad (“Corporate Secretary”), has affirmed that the recent introduction of Rule No. I-K (“Rule I-K”) as the Appendix to Decree of the Board of Directors of BEI No. KEP-00167/BEI/10-2024 (“Decree 167/2024”) on the Listing of Asset-Backed Securities (Efek Beragun Aset – “EBA”) in the Form of Collective Investment Contracts (Kontrak Investasi Kolektif – “KIK”) is among various BEI initiatives that aim to further simplify the mechanism for the listing of EBA and improve overall information transparency.
In terms of the above-mentioned Rule I-K, the Corporate Secretary has explained that investment managers are required to submit their listing documents via an electronic system that will be further stipulated by BEI. Furthermore, Rule I-K also sets out a number of specific periodic reporting requirements that should ensure further transparency and improved supervision in relation to listed EBAs.
In order to ensure the smooth implementation of the new framework, the Corporate Secretary has affirmed that a transition period will apply to investment managers in terms of the submission of listing documents. During this transition phase, said documents may be submitted via compact disk (CD), hard disk or similar media.
It should also be noted that the Corporate Secretary has also affirmed that BEI will be offering a 50% incentive discount on the annual applicable listing fees for EBAs. Said discounts will be available for a five-year period up until a final deadline of 16 October 2029.
Ultimately, the Corporate Secretary is hopeful that the new framework of Rule I-K will further encourage greater numbers of EBA issuers to list their products through BEI. This, in turn, should lead to improved investment choices for prospective investors, contributing to the overall development of Indonesia’s capital market sector. _(ANT)

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