The trading of Carbon Units may only be undertaken between carbon exchange service users in compliance with relevant frameworks and guidelines that have been established by the Carbon Exchange Organizer

Circular 10/2023 mostly features similar provisions that address determinations of risk parameters to those that featured under the Previous Circular, with certain key differences relating to additions of Mutual Fund Participation Units

The newly issued provisions address the following matters that specifically relate to the organizers of carbon trading: 1) Scope of carbon units; 2) Capital requirements for carbon exchanges; 3) Requirements and fit-and-proper testing for the shareholders, boards of director and boards of commissioners of Organizers; 4) Operational and internal control obligations that apply to Organizers; 5) Procedures for the submission applications to secure Carbon Trading Business Licenses; 6) Regulations that apply to Organizers and articles of associations of Organizers; 7) Carbon exchange workplaces and budgets; and 8) Reporting obligations

The Financial Services Authority has now introduced Know-Your-Services Administration Services in an effort to improve customer and/or enhanced due diligence practice in relation to the opening of securities and investment accounts

Clearing members are now required to pay fees for collateral management and administrative services (collectively referred to as Collateral Services). In this regard, management fees should be charged in relation to the management of collateral that takes the form of minimum cash funds (Dana Minimum Kas "DMK"), while administrative fees should be charged for various services that relate to collateral.

The Regulation now clarifies the available media through which public companies that engage in share buybacks must ensure information transparency (e.g. official websites and/or newspapers). Moreover, share buybacks should now be reported to the OJK on the same day as a given buyback transaction takes place after the share trading period at the Exchange has ended

During the organization of carbon exchanges, Organizers have various obligations, including: 1) Must provide a carbon unit trading system; 2) Must have internal controls and adequate risk management in place; 3) Must have paid-up capital amounting to a minimum of Rp. 100 billion that does not derive from loans

Listed companies are now required to fulfill the following requirements if their shares are to remain listed on the BEI: 1) Must have minimum free-float shares that amount to 7.5% of the total amount of listed shares; and 2) Must have a minimum of 300 shareholders who should be customers that have already secured SID. However, a relaxation period for the fulfillment of these requirements is now in place and runs until 31 July 2025

This obligation exempts dual-listed public companies that choose to implement International Financial Accounting Standards (SAK-I). The use of SAK-I as a reference during the preparation of the financial reports of dual-listed public companies will apply during the financial year that commences on or after 1 January 2024

KPEI has removed the calculation of stock exchange transaction risk parameters for debt securities and has also further regulated the risk charge for buying requests and/or selling offers for derivative securities for futures contracts of groups of government bonds (Kontrak Berjangka Sekumpulan Surat Utang Negara/KBSSUN)