Regulatory AlertsOJK Circular No. 7/SEOJK.07/2024 on Reporting by Registered Financial Technology Innovation Service Providers
The Financial Services Authority (OJK) issued Circular No. 7/SEOJK.07/2024 to implement the Financial Sector Development and Strengthening Act and POJK No. 3 of 2024 regarding Financial Technology Innovation. This regulation mandates registered Financial Technology Innovation Service Providers to submit periodic reports, incidental reports, and adhere to specific reporting mechanisms. The circular became effective on August 8, 2024, establishing the compliance framework for these entities.
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