Consumer Protection Compliance Mechanism Introduced: PUJK Required to Submit Self-Assessment Reports by 30 September

In 2023, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued Regulation No. 22 of 2023 on Consumer and Public Protection Within the Financial Services Sector (“Regulation 22/2023”), which specifically requires financial services business actors (pelaku usaha jasa keuangan – “PUJK”) to submit self-assessment reports (“Reports”) to the OJK.[1] In order to ensure compliance and clarify the implementation of this mandate, the OJK has now introduced Circular No. 18/SEOJK.08/2024 (“Circular 18/2024”), which came into effect on 10 December 2024.[2]