The adjustments that have been made involve the introduction of a limitation on the utilization of auditing services by Accountants and Firms that states that individual Accountants can only be utilized for periods of seven cumulative years at the maximum by commercial banks, issuers and public companies, and for periods of five consecutive years at the maximum by other Institutions

The indicators provided under this regulation are categorized into the following types of transactions: 1) Financial transactions intended to be used and/or that are known to have potential use in relation to acts of terrorism; 2) Financial transactions intended to be used and/or that are known to have potential use in relation to terrorism-related crime; and 3) Transactions that involve individuals who have been included on lists of suspected terrorists and terrorist organizations

The Financial Services Authority is currently preparing a Draft Regulation on Insurance Products Linked to Credit or Sharia Financing and Products in the Suretyship or Sharia Suretyship Business Lines

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