Regulatory AlertsFinancial Services Authority Regulation Number 31 of 2024 on Written Orders
The Financial Services Authority (OJK) issued Regulation Number 31 of 2024 to harmonize and update its authority to issue Written Orders across the financial sector, aligning with the Financial Sector Development and Strengthening Act. This regulation establishes a principle-based framework for Written Orders, specifically empowering the OJK to mandate mergers, consolidations, takeovers, integrations, and conversions among Licensed Financial Business Entities. It simultaneously reclassifies prior supervisory instructions and formally revokes three previous regulations governing Written Orders to ensure legal certainty and consistency.
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