Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by Information Technology-Based Joint Financing Service Providers (LPBBTI)

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Regulation Search / Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by Information Technology-Based Joint Financing Service Providers (LPBBTI)

Sector: IKNB

Sub-Sector: Other Regulations

Regulation Type: OJK Circular Letter

Regulation Number: 1/SEOJK.06/2024

Effective Date: 1/7/2024

Appendix 1 1-SEOJK.06-2024 Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by LPBBTI Providers.pdf

Abstract 1-SEOJK.06-2024 Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by LPBBTI Providers.pdf

FAQ SEOJK 1-SEOJK.06-2024 Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by LPBBTI Providers.pdf

Page Content Circular Letter of the Financial Services Authority of the Republic of Indonesia Number 1/SEOJK.06/2024 Concerning Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by Information Technology-Based Joint Financing Service Providers

Abstract: To further regulate the procedures and mechanisms for the submission of financing transaction data and reporting of Information Technology-Based Joint Financing Services, as mandated by Article 44 paragraph (2) and Article 66 paragraph (11) of Financial Services Authority Regulation Number 10/POJK.05/2022 concerning Information Technology-Based Joint Financing Services. The legal basis for this SEOJK is POJK Number 10/POJK.05/2022. Service Providers are required to submit financing transaction data correctly and completely to the OJK's fintech lending data center. The format and structure of financing transaction data must contain at least: a. information about users; b. financing transaction information; and c. financing quality information. The submission of financing transaction data is conducted in real time. In the event that the fintech lending data center is unable to receive financing transaction data in real time, Service Providers must submit financing transaction data to the Financial Services Authority on a daily basis. The submission of financing transaction data is carried out by integrating the Service Provider's Electronic System into the fintech lending data center. In the event that the fintech lending data center experiences technical disturbances or force majeure, the Financial Services Authority will notify the Service Provider of the submission period for financing transaction data via letter and/or announcement through the fintech lending data center. Service Providers are required to submit periodic reports to the Financial Services Authority online through the Financial Services Authority's data communication network system. Periodic reports consist of: a. monthly reports; and b. annual financial reports audited by a public accountant registered with the Financial Services Authority. The submission of monthly reports must be made no later than 10 (ten) working days after the reporting period ends. The submission of annual financial reports audited by a public accountant registered with the Financial Services Authority must be made no later than April 30 of the following year. In the event that the Financial Services Authority's data communication network system is unavailable, experiences technical disturbances, or force majeure, Service Providers must submit monthly reports and annual financial reports in electronic document format online via email designated by the Financial Services Authority. Service Providers are required to publish to the public the audited financial position reports and income statements, along with the auditor's opinion on said reports, on the electronic system used by the Service Provider. Service Providers are required to submit incidental reports to the Financial Services Authority no later than 10 (ten) working days from the occurrence of the incident in electronic document format. Incidental reports consist of: a. fraud reports, including embezzlement of company assets by the Board of Directors, Board of Commissioners, Sharia Supervisory Board, or employees of the Service Provider; b. internal audit implementation reports; c. education implementation reports; d. legal dispute reports; and e. operational disturbance reports, including fires and demonstrations. Service Providers must appoint a member of the Board of Directors responsible for the preparation and presentation of the Service Provider's reports. When submitting financing transaction data and periodic reports, Board members and preparers must have a user ID and password. In the event of errors in the submitted financing transaction data, periodic reports, and/or incidental reports, the Service Provider must correct the financing transaction data and/or reports within the timeframe provided by the Financial Services Authority. Note: This SEOJK takes effect on July 1, 2024. Transitional Provisions:

1. The obligation of Service Providers to submit financing transaction data in accordance with the format, structure, and submission procedures regulated in this Financial Services Authority Circular Letter begins on July 1, 2024.
2. Service Providers must conduct testing of the submission of financing transaction data reports in accordance with the format, structure, and submission procedures regulated in this Financial Services Authority Circular Letter from February 1, 2024, to June 30, 2024.
3. The obligation of Service Providers to submit monthly reports in accordance with the format, structure, and submission procedures regulated in this Financial Services Authority Circular Letter begins for the July 2024 reporting period, submitted according to the submission schedule.
4. Service Providers must conduct testing of the submission of monthly reports in accordance with the format, structure, and submission procedures regulated in this Financial Services Authority Circular Letter for the reporting period from February 2024 to June 2024.

Appendix I: 54 PAGES. Appendix II: 57 PAGES. Appendix III: 177 PAGES. Appendix IV: 6 PAGES.