By way of comparison, the now obsolete Regulation 67/2009 previously required candidates to have at least two years of experience in futures trading in order for them to be appointed as compliance directors. Moreover, Regulation 67/2009 did not prohibit compliance directors from acting as futures brokers? representatives, as is now the case under Regulation 7/2017

In terms of the implementation of APU-PPT programs, futures brokers are required to identify, assess and understand the relevant risks regarding money-laundering and/or terrorism-financing as they apply to customers, countries or geographical areas, products, services, transactions or delivery channels

The Financial Service Authority has issued Circular No. 54/SEOJK.05/2017 on the Reporting of the Implementation of Good Corporate Governance by Guarantee Institutions, which is an implementation of Article 58 (6) of OJK Regulation No. 3/POJK.05/2017 on Good Corporate Governance by Guarantee Institutions.

The Financial Services Authority has issued Regulation No. 57/POJK.04/2017 on the Implementation of Good Corporate Governance by Securities Companies Acting as Securities Underwriters and Securities Brokers, with the overall objective of improving the quality of securities companies, as well as ensuring customer protection.

In order to set out further provisions on pawnbroker businesses, as already addressed under Financial Service Authority Regulation No. 31/POJK.05/2016 on Pawnbroker Businesses, the OJK recently issued Circular No. 52/SEOJK.05/2017 on the Organization of Conventional Pawnbroker Business Companies.

As an implementation of Article 9 (9) and Article 12 (2) of Financial Services Authority Regulation No. 31/POJK.05/2016 on Pawnbroker Businesses, the OJK has issued Circular No. 51/SEOJK.05/2017 on Registration, Business Licensing and Organizational Structure for Pawnbroker Companies.

As a follow-up to the mandatory implementation of anti-money-laundering and prevention-of-terrorism-financing measures within the financial sector, as regulated under Article 68 of Financial Services Authority Regulation No. 12/POJK.01/2017 on the Implementation of Anti-Money-Laundering and Prevention-of-Terrorism-Financing Programs Within the Financial Sector, the OJK has issued Circular No. 47/SEOJK.04/2017 on the Implementation of Anti-Money-Laundering and Prevention-of-Terrorism-Financing Programs Within the Capital-Market Sector.

The Financial Services Authority has issued Circular No. 46/SEOJK.05/2017 on Fraud Control, Implementation of Anti-Fraud Strategy and Anti-Fraud Strategy Report for Insurance Companies, Sharia Insurance Companies, Re-Insurance Companies, Sharia Re-Insurance Companies, or Sharia Units, as mandated under Article 72 (5) of OJK Regulation No. 69/POJK.5/2016 on the Business Organization of Insurance Companies, Sharia Insurance Companies, Re-Insurance Companies and Sharia Re-Insurance Companies.

The Ministry of Trade has issued Regulation No. 51/M-DAG/PER/7/2017 on Property Brokerage Companies, with the objective of creating a fair business climate, improving the professionalism of property brokerage companies and supporting business activities in the area of property.

In order to expand investment-instrument options for non-bank financial services institutions, as well as to increase investment realization, the Financial Services Authority has issued Regulation No. 56/POJK.05/2017 on the Second Amendment to Financial Services Authority Regulation No. 1/POJK.05/2016 on Investment in State Securities by Non-Bank Financial Services Institutions. In essence, this new regulation adds three new types of state securities which may be allocated as investments by non-bank financial services institutions with new investment caps available.