Gold ETF Issuers Subject to New Electronic Gold Receipt Registration Framework: Mandatory Reconciliation and Physical Gold Verification Now Required

PT Kustodian Sentral Efek Indonesia (“KSEI”) has issued Rule No. II-F (“Rule II-F”) on the Registration of Electronic Gold Receipts (“EGR”)[1] at KSEI, as the Appendix to the Decree of the Board of Directors of KSEI No. KEP-0043/DIR/KSEI/0726 (“Decree 43/2026”). Rule II-F and Decree 43/2026 will now serve as an implementing framework to Regulation of the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) No. 2 of 2026 (“Regulation 2/2026”)[2], which governs collective investment contract mutual funds whose participation units are traded through the stock exchange (Exchange Traded Fund) with underlying assets in the form of gold (“Gold ETF’).[3]