The Draft Bill establishes a legal framework for guarantee institutions ? which is a business model that bridges UMKMK and banks ? in providing business-visible UMKMKs that are unable to provide banks the necessary collateral to process a credit. With the existence of guarantee institutions, UMKMKs may disregard the collateral issue, as the guarantee institution will ensure banks on the loan.

The 2015 Circular provides guidance for financial services institution acting as a holding in financial services group company (?Holding Company?), serving to implement the integrated corporate governance action. Additionally, the 2015 Circular also stipulates the guidance for the Holding Company to self-assess the implementation of integrated corporate governance, as well as the procedures to report the assessment to the OJK.

The 2015 Circular provides detailed provisions on integrated risk management procedures, guidance to self-assess companies? risk profile, as well as the procedures to report to the OJK on the risk management implementation.

The 2015 Regulation also stipulates limitations on the accounting service that can be provided by public accountants, as well as cooperation between national and foreign public accountant offices and associations.

The Circular provides guidance for commercial financing companies (?Financing Companies?) to assess and calculate their risk level as well as submitting reports and follow-up plans to the OJK.

Bank Indonesia (BI) has issued Regulation No. 16/15/PBI/2014 on Non-Bank Foreign Currency Business (?Regulation?) to stabilize the value of the rupiah against foreign currencies and prevent money changers from being involved in unlawful acts i.e., money laundering and funding terrorism.

As part of efforts to improve consumer protection in the financial services sector, the Financial Services Authority (?OJK?) has issued Circular Letter No. 12/SEOJK.07/2014 on Presentation of Information for Marketing Financial Services or Products (?2014 Circular Letter?).

The 2014 Regulation aims to reregulate the direct sale and purchase of government bonds previously regulated under Ministerial Regulation No. 170/PMK.08/2008 on Direct Transactions of Government Bonds as most recently amended by Minister Regulation No. 77/PMK.08/2012 (?2008 Regulation?).

The 2014 Regulation is of relevance to foreign creditors and government institutions that require funding that is sourced from foreign loans, the funds of which will be used to organize the procurement of goods and services, such as Ministries, Regional Governments and state-owned enterprises (collectively referred to as ?Procuring Institutions?).

The Regulation requires financial service providers to submit the prescribed information on their customers to PPATK. This information will be stored in the Integrated Information System of Service Users (?Integrated System?) that is exclusively managed and used by the PPATK.