This Draft Regulation expands derivative products to contract for difference (CFD), equity swaps, and credit default swaps while requiring brokers to absorb retail negative margin balances. This Draft Regulation establishes PEKU-tiered frameworks for SPA, requiring Rp110 billion in capital for PEKU 3 organizers, and sets a US$1 billion equity threshold for foreign PALN partners. Additionally, brokers must obtain OJK approval for Expert Advisors, secure client funds in segregated accounts, and implement anti-fraud strategies.

The Draft Regulation will strengthen the integrated liquidity risk management framework for the Financial Conglomerate Required to Establish a Financial Conglomerate Holding Company Financial Conglomerate Holding Company (Perusahaan Induk Konglomerasi Keuangan ? ?PIKK?) by requiring PIKK to maintain adequate liquidity, conduct integrated stress testing, enhance liquidity risk governance, and comply with reporting obligations subject to administrative sanctions for non-compliance.

Bank Indonesia has introduced a strategic adjustment by expanding the role of Appointed Cross-Currency Dealer (ACCD) Banks in Indonesia to include acting as Renminbi Clearing Banks in support of the development of the money and foreign exchange markets. Relevant banks must obtain a recommendation from Bank Indonesia and designation from the People?s Bank of China, establish an operational rule book, and comply with new administrative sanctions, including suspension of activities.

This Regulation establishes Credit for Underprivileged Women (Kredit Perempuan Prasejahtera ? ?KPPS?) as a group-based financing program for underprivileged women to obtain productive capital and empowerment services, with financing of up to Rp15 million per recipient at an 8% flat annual interest or margin rate. KPPS distributors (e.g. financial services institutions or cooperatives) must conduct credit risk assessments, integrate electronic systems with SIKP, comply with health and performance requirements, observe collateral restrictions, and fulfill periodic reporting obligations.

Bank Indonesia has expanded the scope of the Macroprudential Liquidity Incentive Policy (Kebijakan Insentif Likuiditas Makroprudensial/KLM) by including corporate securities purchases and the collection of funds other than third-party funds as eligible activities. The Amendment revises the maximum incentive allocation for sectoral financing and changes the interest rate incentive calculation formula to an absolute spread metric, while maintaining the overall banking liquidity incentive ceiling at 5,5%.

The Financial Services Authority has overhauled the procedural requirements for carbon exchange organizers by transitioning its framework from a circular into a formal regulation. Key shifts include the recognition of international Non-Greenhouse Gas Emission Reduction Certificate (Sertifikat Pengurangan Emisi Gas Rumah Kaca ? ?SPE GRK?) units, the transition from the previous registry to the new Carbon Unit Registry System, and streamlined administrative capital proofs, materially impacting how carbon exchange organizers register units and maintain strict operational compliance.

The Draft Regulation introduces a more stringent consumer protection framework by requiring real-time integration of complaint handling through the Integrated Consumer and Public Service System (Sistem Layanan Konsumen dan Masyarakat Terintegrasi/SLKMT) platform. It also requires Financial Services Business Actors (Pelaku Usaha Jasa Keuangan ? ?PUJK?) to continue providing consumer services even after their business licence has been revoked. To comply with these new requirements, PUJK will need to strengthen their compliance processes, operational procedures, and technology systems.

This Regulation establishes the SPP-TDLN framework and designates banks and non-bank institutions that facilitate overseas digital transactions (Issuers) as Other Parties responsible for collecting, depositing, and reporting PPN on foreign digital transactions. Other Parties must collect PPN using the 11/111 formula, submit transaction data, and protect certain account information through hash functions. They must also issue bill statements equivalent to tax invoices and remit PPN within seven days, with data submission and remittance constituting the Periodic PPN Return.

This most recent version of the Bill on Indonesian International Financial Centers (Pusat Finansial Internasional Indonesia - ?PFII?) significantly expands the PFII framework through enhanced governance, a two-tier court system and the PFII Advisory Board, while excluding PFII from being established within any Special Economic Zones. The Bill also strengthens various business, legal and fiscal provisions by refining operational requirements, expanding the overall authority of the PFII Court, introducing a 50-year income-tax facility and exempting qualifying foreign family office assets from the imposition of inheritance tax.

This Circular standardizes procedures for the requesting of information and/or evidence or statements (Informasi dan/atau Bukti atau Keterangan ? ?IBK?) by the Directorate-General of Taxes from reporting entities, including financial institutions and crypto-asset service providers, under the Crypto-Asset Reporting Framework (CARF). Generally speaking, said reporting entities must submit IBK through designated electronic channels within one month of their receiving any such requests, with non-compliance or false information potentially triggering enforcement measures.