Ms Elsie F Hakim

Elsie F Hakim

Updates

Banking

OJK issues umbrella regulation for fintech development and establishes regulatory sandbox regime
Indonesia | 05 October 2018

Until recently, the Financial Services Authority (OJK) had never issued an overarching regulation governing the development of the fintech sector as a whole or replicating the sandbox regime and pre-audit mechanism established by Bank Indonesia for fintech in the payments arena. This gap has now been filled by OJK Regulation 13/POJK.02/2018 on Digital Financial Innovation in the Financial Services Sector.

New regulation has significantly changed e-money landscape
Indonesia | 27 July 2018

After nine years of regulating e-money transactions, the Indonesian Central Bank has responded to changes in technology by replacing the previous e-money regulation. The issuance of the new regulation has significantly changed the e-money landscape, as it applies to all licensed e-money players and prioritises consumer protection by requiring minimum capital and the placement of floating funds.

Bank Indonesia issues regulation on hedging transactions
Indonesia | 09 May 2014

As a reaction to the volatility of the rupiah over the past year, Bank Indonesia has issued a new regulation on hedging transactions. The regulation is expected to encourage the use of derivatives as a tool to hedge foreign currency exposure, and subsequently to reduce foreign currency spot transactions and ease pressure on the rupiah.

Capital Markets

New framework to establish Securities Finance Agency introduced
Indonesia | 12 February 2019

The Financial Services Authority recently issued a new regulation which provides a framework to establish the Securities Finance Agency (SFA). The agency aims to boost transaction volumes and liquidity in the Indonesian stock market, particularly by encouraging margin trading and short selling. Upon its establishment, the SFA will provide securities financing to brokerage firms.

OJK issues regulation on exemption from reporting and announcement obligations
Indonesia | 22 March 2016

The Financial Services Authority (OJK) has issued a regulation setting out the criteria for exemption from the reporting and announcement obligations ordinarily imposed on issuers and public companies with securities and shares registered at the Indonesian Stock Exchange. The exemption must be confirmed by way of an OJK decision letter, but can be rescinded if the entity no longer meets the established exemption criteria.

New OJK regulation on rights issues
Indonesia | 01 March 2016

A new regulation on rights issues was passed by the Financial Services Authority in December 2015. The regulation introduces key changes relating to rights issue approval, effective statements, non-cash capital injections, announcements and company and shareholder requirements, and is intended to provide investors with more flexibility and ease when conducting rights issues.

Corporate Finance/M&A

New BKPM regulation on investment licences and facilities
Indonesia | 31 January 2018

The Indonesian Investment Coordinating Board (BKPM) recently issued the Regulation concerning Guidelines and Procedures for Investment Licensing and Facilities. The regulation enables companies investing in a specific business field to apply for a business licence directly without obtaining an investment registration in certain circumstances. Further, it is relatively more lenient than the previous regulation with regard to the divestment obligation imposed on foreign companies.

Energy & Natural Resources

Permit to establish foreign representative office in oil and gas sub-sector can now be obtained online
Indonesia | 05 February 2018

The Indonesian Investment Coordinating Board recently issued the Regulation concerning Guidelines and Procedures for Investment Licensing and Facilities. As regards the oil and gas sub-sector, the regulation states that a permanent business entity may apply for a permit to establish a foreign representative office in the oil and gas sub-sector through the Electronic Investment Information and Licensing Services. Foreign representative office permits are valid for three years and are extendable.