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 Financial Services Authority is currently preparing for the promulgation of implementing provisions that relate to the organization of information technology-based co-funding services

In order to secure Guarantees, either Food BUMN or Perum BULOG should submit their applications to the Minister via the Director-General for the Management of Financing and Risks. Said applications encompass four specific stages: 1) Submission of application; 2) Evaluation; 3) Approval of terms and conditions; and 4) Issuance of guarantee

A number of new obligations have now been introduced under the framework of Regulation 3/2023 and the forms of administrative sanctions that can be imposed now include fines and prohibitions on becoming primary parties of PUJK

In terms of the consistent and sustainable implementation of the PMPJ, the offices of Class II auction officials and auction houses, as auction organizers, may request the assistance of third parties

OJK Investigators are authorized and responsible for various matters, including: 1) Receiving reports, notifications and complaints from individuals that address criminal acts that are alleged to have taken place within the financial services sector (SJK); 2) Summonses, examinations and requests for descriptions and evidence from any parties related to Criminal Acts Within the SJK; 3) Undertaking of investigations into criminal acts of money laundering

The OJK has adjusted several provisions that relate to the marketing of insurance products through cooperation with commercial banks

The Bill on the Development and Strengthening of the Financial Sector has finally been passed by Indonesia's House of Representatives and includes 341 articles that span 27 chapters

As the OJK may verify and/or validate any original documents that are submitted with Applications, Organizers are obliged to provide and retain the originals of any scanned documents that they submit to the OJK in relation to the above Applications (whether said Applications are submitted via either online or offline means) for certain periods, as follows: 1) For licensing and approval documents: must be retained for as long as a licensing and approval period remains valid; and 2) For reporting documents: must be retained for a period of at least five years from the relevant reporting date

Written orders are issued in order to demand the conducting or non-conducting of certain activities to ensure the fulfillment of provisions set out under the applicable laws and regulations that apply within the financial services sector, as well as to prevent and minimize losses to consumers, the general public and the financial services sector