Organizers of peer-to-peer lending services ("Organizers") are required to submit complete and correct funding transaction data reports to the Fintech Lending Data Center at the Financial Services Authority (Otoritas Jasa Keuangan "OJK"). Moreover, Organizers are also required to submit periodic and incidental reports to the OJK. Periodic reports should be submitted on both a monthly and annual basis and must have been audited by OJK-registered public accountants.

The Indonesian National Work Competency Standards (Indonesian National Work Competency Standards/SKKNI) for the Financial and Insurance Activity Main Category of Insurance, Reinsurance and Pension Funds and Non-Mandatory Social Security Within the Insurance Sector Category have been updated. Previously, 13 competence units were available, however, the new Decree now sets out 57 competence units.

Among the various provisions introduced under the new framework, the Financial Services Authority (Otoritas Jasa Keuangan/OJK) has adjusted the minimum paid-up capital requirements for newly established companies, as well as the minimum equity requirements for companies that have secured operational business licenses. Specifically, companies are required to gradually increase their minimum equity levels in two phases.

The maximum economic benefit thresholds have been divided into two categories (i.e. productive funding and short-term consumption-related funding), along with the relevant respective maximum rates that will come into force on 1 January 2024. Moreover, organizers of P2P lending services may involve other third parties in collection activities, however, said activities must be preceded by the drawing up of written collection agreements.

Companies can undertake Spin-offs by either establishing new Sharia insurance/reinsurance Companies or transferring all of their membership portfolios to other sharia insurance/reinsurance Companies that have already secured business licenses. This regulation also sets out certain requirements and aspects that must be fulfilled in order to complete Spin-offs, including minimum fund and equity requirements

Members who attend General Membership Meetings (RUA) have now been stipulated as the controllers of Companies. As a result, certain provisions that relate to controllers of Companies, as originally addressed under Regulation of OJK No. 67/POJK.05/2016, are no longer applicable to Companies

The obligation to submit quarterly financial statements has also now been removed. Companies are instead now required to draw up and maintain a detailed list of related parties and investment recipient groups who are not related parties for investments in assets other than sub-funds and investments in sub-fund assets

The following minimum KPMM ratios have been set in accordance with LPEI risk profiles: 1) 8% of ATMR for the level-1 risk profile; 2) 9% to less than 10% of ATMR for the level-2 risk profile; 3) 10% to less than 11% of ATMR for the level-3 risk profile; or 4) 11% to 14% of ATMR for the level-4 and level-5 risk profiles

Insurance broker companies that provided digital insurance brokerage services prior to the promulgation of this Draft Regulation and that only possess equity in amounts that are below the required levels are obliged to make the requisite adjustments prior to 31 December 2025

The Draft Regulation states that share buybacks can be transferred through the following schemes: 1) Sold either through the stock exchange or outside the stock exchange; 2) Withdrawn by means of capital reduction; 3) Implementation of share ownership programs by employees and/or directors and boards of commissioners; 4) Implementation of payment/settlement of a particular transaction; 5) Implementation of the conversion of convertible debt securities that have been issued; 6) Proportionate distribution of repurchased shares to shareholders; and/or 7) Other methods that have been granted OJK approvals