Electronic Licensing Mandate Set for Capital Market Professionals: Stricter Segmentation and Data Reporting Obligations Introduced

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is currently preparing a new Draft Regulation on Professional Licensing for Financial Sector Business Actors Operating in the Capital-Market Sector (“Draft Regulation”). If this framework ultimately comes into force, then it will revoke and consolidate various frameworks that specifically address said professional licensing that were previously covered under other OJK regulations (collectively referred to as the “Previous Regulations”), among others, including:[1]