Amendment to Financial Services Authority Circular Number 55/SEOJK.04/2016 Regarding the Implementation of Continuing Education Programs for Investment Manager Representatives

To:

1. The Board of Directors of Securities Companies conducting business as Investment Managers;
2. The Management of Associations representing Investment Manager Representatives;
3. The Management of Specialized Capital Market Education Institutions; and
4. Investment Manager Representatives,

At your offices.

COPY

CIRCULAR OF THE FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA

NUMBER 18 /SEOJK.04/2022

REGARDING

AMENDMENT TO THE FINANCIAL SERVICES AUTHORITY CIRCULAR NUMBER 55/SEOJK.04/2016 REGARDING THE IMPLEMENTATION OF CONTINUING EDUCATION PROGRAMS FOR INVESTMENT MANAGER REPRESENTATIVES

In order to improve the effectiveness of supervision over holders of Investment Manager Representative licenses, it is necessary to amend the Financial Services Authority Circular Number 55/SEOJK.04/2016 regarding the Implementation of Continuing Education Programs for Investment Manager Representatives, hereinafter referred to as SEOJK 55/2016, as follows:

I. Several provisions in SEOJK 55/2016 are amended as follows:

1. Provisions in point V, sub-points 9, 10, and 11 are deleted, and sub-points 1, 2, 3, 4, 5, 6, 7, 8, and 12 are amended, so that point V reads as follows:

V. OBLIGATIONS OF CONTINUING EDUCATION PROGRAM ORGANIZERS

1. PPL Organizers must create an annual plan for the implementation of PPL every year.

2. The annual plan for the implementation of PPL must be submitted to the Financial Services Authority no later than on January 12 of each year, according to the format of the Annual Plan for the Implementation of Continuing Education Programs as stated in the Appendix, which is an integral part of this Financial Services Authority Circular.

3. The Financial Services Authority may request PPL Organizers to make adjustments to the submitted annual plan for the implementation of PPL, including the syllabus or PPL materials.

4. PPL Organizers must create periodic reports on the implementation of PPL.

5. The PPL implementation report must be submitted to the Financial Services Authority no later than on January 12 and July 12 of each year, according to the format of the Continuing Education Program Implementation Report and the format of the Continuing Education Program Certificate Issuance List, as stated in the Appendix, which is an integral part of this Financial Services Authority Circular, accompanied by supporting documents in the form of participant attendance proof (face-to-face) and other supporting documents for participants in non-face-to-face PPL.

6. The PPL implementation report as referred to in sub-point 4 must meet the following provisions:
a. for PPL in face-to-face form, it must contain at least:

1. the name of the PPL organizing institution or body;
2. the location and time of the activity;
3. the PPL syllabus or materials;
4. the participant attendance list or register; and
5. the name, number, and date of the Investment Manager Representative License Decision of the participants in the PPL;
   and b. for PPL in forms other than face-to-face, it must contain at least:
6. the name of the PPL organizing institution or body;
7. the name, number, and date of the Investment Manager Representative License Decision of the participants in the PPL; and
8. the PPL fulfillment report.

7. In the event that the deadline for submitting the annual plan for PPL implementation as referred to in sub-point 2 and the submission of the PPL implementation report as referred to in sub-point 5 falls on a holiday, the annual plan for PPL implementation and the PPL implementation report must be submitted on the next (1) working day.

8. The annual plan for PPL implementation as referred to in sub-point 2 and the PPL implementation report as referred to in sub-point 5 are submitted to the Financial Services Authority in the form of printed documents or in digital format using digital media such as compact disks (CD), flash disks, or others.

9. Deleted.

10. Deleted.

11. Deleted.

12. In the event that the Financial Services Authority has provided an electronic system for the submission of the annual plan for PPL implementation and the PPL implementation report, as referred to in sub-points 2 and 5, the annual plan for PPL implementation and the PPL implementation report must be submitted through the electronic system.

2. The provision in point IX is deleted.

3. The Appendix format for the Continuing Education Program Participation Report for Investment Manager Representatives is deleted.

II. The provisions in this Financial Services Authority Circular take effect on the date of issuance.

Issued in Jakarta on October 6, 2022

EXECUTIVE HEAD
MARKET SUPVISOR
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

signed,

INARNO DJAJADI