Amendment to Financial Services Authority Regulation Number 18/POJK.03/2017 on Reporting and Requesting Debtor Information Through the Financial Information Service System

COPY
FINANCIAL SERVICES AUTHORITY REGULATION
OF THE REPUBLIC OF INDONESIA
NUMBER 64 /POJK.03/2020
CONCERNING
AMENDMENT TO THE FINANCIAL SERVICES AUTHORITY
REGULATION NUMBER 18/POJK.03/2017 CONCERNING REPORTING AND REQUESTING DEBTOR INFORMATION THROUGH THE FINANCIAL INFORMATION SERVICE SYSTEM BY THE GRACE OF GOD THE ALMIGHTY THE COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering: a. that in order to expand the scope of reporters who provide funding facilities to Debtors and support effective supervision in the financial services sector, both in the banking, capital market, and non-bank financial industry sectors, it is necessary to re-regulate the parties required to become reporters and parties that can become reporters; b. that the Financial Services Authority is developing a reliable, comprehensive, and integrated financial information service system in the financial services sector;
c. that in order to expand the scope of reporters and develop the financial information service system, it is necessary to adjust the Financial Services Authority Regulation Number 18/POJK.03/2017 concerning Reporting and Requesting Debtor Information Through the Financial Information Service System;
d. that based on the considerations as referred to in letters a, b, and c, it is necessary to establish a Financial Services Authority Regulation concerning Amendment to the Financial Services Authority Regulation Number 18/POJK.03/2017 concerning Reporting and Requesting Debtor Information Through the Financial Information Service System; Recalling: 1. Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia Year 1992 Number 31, Supplement to the State Gazette of the Republic of Indonesia Number 3472) as amended by Law Number 10 of 1998 concerning Amendment to Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia Year 1998 Number 182, Supplement to the State Gazette of the Republic of Indonesia Number 3790);
2. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64, Supplement to the State Gazette of the Republic of Indonesia Number 3608);
3. Law Number 21 of 2008 concerning Islamic Banking (State Gazette of the Republic of Indonesia Year 2008 Number 94, Supplement to the State Gazette of the Republic of Indonesia Number 4867);
4. Law Number 2 of 2009 concerning the Indonesian Export Financing Agency (State Gazette of the Republic of Indonesia Year 2009 Number 2, Supplement to the State Gazette of the Republic of Indonesia Number 4957);
5. Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Supplement to the State Gazette of the Republic of Indonesia Number 5253);
6. Financial Services Authority Regulation Number 18/POJK.03/2017 concerning Reporting and Requesting Debtor Information Through the Financial Information Service System (State Gazette of the Republic of Indonesia Year 2017 Number 93, Supplement to the State Gazette of the Republic of Indonesia Number 6049);
DECIDING:
Establishing: FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING AMENDMENT TO THE FINANCIAL SERVICES AUTHORITY REGULATION NUMBER 18/POJK.03/2017 CONCERNING REPORTING AND REQUESTING DEBTOR INFORMATION THROUGH THE FINANCIAL INFORMATION SERVICE SYSTEM.
Article I
Several provisions in the Financial Services Authority Regulation Number 18/POJK.03/2017 concerning Reporting and Requesting Debtor Information Through the Financial Information Service System (State Gazette of the Republic of Indonesia Year 2017 Number 93, Supplement to the State Gazette of the Republic of Indonesia Number 6049) are amended as follows:

1. The provisions of items 1, 2, 3, 4, 5, 6, 12, and 14 of Article 1 are amended, among items 6 and 7, 2 (two) items are inserted, namely item 6a and item 6b, and item 7 is deleted, so that Article 1 reads as follows:
   Article 1
   In this Financial Services Authority Regulation:
2. Financial Services Authority, hereinafter abbreviated as OJK, is an independent institution that has the function, duties, and authority for regulation, supervision, examination, and investigation.
3. Financial Services Institution, hereinafter abbreviated as LJK, is an institution that carries out activities in the banking, capital market, insurance, pension fund, financing institution, and other financial services institution sectors.
4. General Bank is a bank that carries out conventional business activities or carries out business activities based on Sharia principles, which in its activities provides services in the payment circuit, including branch offices of banks located abroad and Sharia business units.
5. Rural Bank, hereinafter abbreviated as BPR, is a bank that carries out conventional business activities which in its activities do not provide services in the payment circuit.
6. Sharia Rural Bank, hereinafter abbreviated as BPRS, is a bank that carries out business activities based on Sharia principles which in its activities do not provide services in the payment circuit.
7. Financing Institution is a business entity that carries out financing activities in the form of providing funds or capital goods as referred to in regulations concerning financing institutions.
   6a. Securities Company is a party that carries out business activities as an underwriter of securities, securities broker intermediary, and/or investment manager.
   6b. Securities Financing Institution is a party that carries out securities transaction financing business activities.
8. Deleted.
9. Reporter is a party that reports and requests debtor information through the financial information service system to the OJK.
10. Debtor is an individual, company, or party that obtains funding facility facilities from the Reporter.
11. Debtor Report is information presented and reported by the Reporter to the OJK according to the reporting procedures and report forms and report media established by the OJK.
12. Funding Facility is the provision of funds by the Reporter to the Debtor, both in Rupiah and foreign currency in the form of loans or financing, securities, and administrative account transactions, and other facilities that can be equated with them, including those based on Sharia principles as regulated in statutory regulations.
13. Debtor Information is information regarding the Debtor, Funding Facilities received by the Debtor, and/or other related information presented based on the Debtor Report received by the OJK from the Reporter.
14. Financial Information Service System, hereinafter abbreviated as SLIK, is an information system managed by the OJK to support the implementation of supervision duties and information services in the financial field.
15. Credit Information Management Institution, hereinafter abbreviated as LPIP, is an institution or body that collects and processes credit data and other data to generate credit information.
16. The provisions of paragraph (1) and paragraph (2) of Article 2 are amended and 1 (one) paragraph is added, namely paragraph (3), so that Article 2 reads as follows:
    Article 2
    (1) Parties required to become Reporters include:
    a. General Bank; b. BPR;
    c. BPRS;
    d. Financing Institution that provides Funding Facilities; e. Securities Company conducting business activities as a securities broker intermediary; f. Securities Financing Institution; g. Other LJK that provide Funding Facilities including Indonesian export financing institutions, pawnshops, secondary housing financing companies, and financing companies for the development of cooperatives, small and medium enterprises; and h. LJK required to become Reporters in accordance with OJK Regulation. (2) Further provisions regarding the procedures to become a Reporter for parties as referred to in paragraph (1) are established by the OJK. (3) Sharia business units are required to become Reporters when the parties required to become Reporters as referred to in paragraph (1) letters a, d, g, and h have Sharia business units.
17. The provisions of Article 3 are amended and 1 (one) paragraph is inserted between paragraph (1) and paragraph (2), namely paragraph (1a), so that Article 3 reads as follows:
    Article 3
    (1) LJK that provide Funding Facilities other than parties as referred to in Article 2 paragraph (1), except other LJK that provide online money lending services based on information technology, can become Reporters by submitting an application and obtaining OJK approval by meeting requirements. (1a) The requirements as referred to in paragraph (1) include:
    a. having adequate infrastructure; and b. having data required in SLIK.
    (2) Other institutions that are not LJK can become Reporters after obtaining OJK approval by meeting requirements:
    a. providing Funding Facilities; b. having adequate infrastructure;
    c. having data required in SLIK;
    d. signing a participation agreement in reporting and requesting Debtor Information through SLIK; e. having healthy financial conditions; f. having assets of at least IDR 50,000,000,000.00 (fifty billion Rupiah) and/or being an institution that disburses Funding Facilities for the implementation of government programs; and g. willing to submit annual financial reports audited by a public accountant to the OJK, at the latest by the end of the 6th (six) month after the end of the fiscal year. (3) Further provisions regarding the procedures to become a Reporter for LJK that provide Funding Facilities as referred to in paragraph (1) and other institutions that are not LJK as referred to in paragraph (2) are established by the OJK.
18. 1 (one) article is inserted between Article 3 and Article 4, namely Article 3A, so that it reads as follows:
    Article 3A
    (1) Reporters as referred to in Article 3 can submit an application for resignation as a Reporter to the OJK.
    (2) Further provisions regarding the procedures for applying for resignation as a Reporter as referred to in paragraph (1) are established by the OJK.
19. The provisions of paragraph (4) and paragraph (6) of Article 4 are amended and 1 (one) paragraph is inserted between paragraph (4) and paragraph (5) of Article 4, namely paragraph (4a), so that Article 4 reads as follows:
    Article 4
    (1) Reporters are required to submit Debtor Reports to the OJK completely, accurately, up-to-date, wholly, and on time every month for the end-of-month position.
    (2) The Debtor Report as referred to in paragraph (1) is required to cover information regarding:
    a. Debtor; b. Funding Facility;
    c. collateral;
    d. guarantor; e. management and owners; and f. Debtor's finances.
    (3) The Debtor Report is reported by the Reporter's head office to the OJK.
    (4) The Debtor Report as referred to in paragraph (3) is required to cover information from the Reporter's head office and all Reporter branch offices.
    (4a) For pawnshops, the Debtor Report as referred to in paragraph (2) letter b covers Funding Facilities in the form of fiduciary guarantee loans.
    (5) The Debtor Report as referred to in paragraph (2) is required to be prepared in accordance with the Debtor Report preparation guidelines established by the OJK.
    (6) Further provisions regarding the scope of the Debtor Report as referred to in paragraph (2) are established by the OJK.
20. The provisions of paragraph (2) of Article 8 are amended and the explanation of paragraph (1), paragraph (3), and paragraph (4) of Article 8 are amended as contained in the article-by-article explanation, so that Article 8 reads as follows:
    Article 8
    (1) Reporters are required to submit the Debtor Report as referred to in Article 4 paragraph (1) monthly at the latest by the 12th of the following month after the month of the Debtor Report. (2) Reporters are required to submit corrections to the Debtor Report as referred to in Article 7 based on:
    a. findings by the Reporter, at the latest by the 12th of the following month after the month of the Debtor Report; or b. findings by the OJK, at the latest in accordance with the Reporter's commitment deadline in the examination. (3) In the event that the deadline for submitting the Debtor Report and/or correction to the Debtor Report as referred to in paragraph (1) and paragraph (2) falls on a Saturday, Sunday, or holiday, the Debtor Report and/or correction to the Debtor Report is submitted on the next working day. (4) The OJK can establish the deadline for submitting the Debtor Report and/or correction to the Debtor Report other than as referred to in paragraph (1) and paragraph (2), in the event of:
    a. damage and/or disruption to the database or communication network at the OJK; and/or b. certain conditions that have a significant impact on the submission period of the Debtor Report. (5) The Reporter is declared to have submitted the Debtor Report and/or correction to the Debtor Report on the date the Debtor Report and/or correction to the Debtor Report is received by the OJK.
21. The provisions of Article 9 are deleted.
22. The provisions of paragraph (1), paragraph (2), paragraph (4), and paragraph (5) of Article 10 are amended and paragraph (3) is deleted, so that Article 10 reads as follows:
    Article 10
    (1) Reporters must submit the Debtor Report and/or correction to the Debtor Report online through SLIK.
    (2) Reporters experiencing technical difficulties in submitting the Debtor Report and/or correction to the Debtor Report can submit it offline at the latest 3 (three) working days after the end of the submission period for the Debtor Report and/or correction to the Debtor Report with a written notification letter to the OJK accompanied by supporting documents. (3) Deleted. (4) Reporters experiencing force majeure conditions so that it is not possible to submit the Debtor Report and/or correction to the Debtor Report online and offline until the end of the submission period for the Debtor Report and/or correction to the Debtor Report, notify in writing to the OJK to obtain a deadline extension for submitting the Debtor Report and/or correction to the Debtor Report. (5) The Debtor Report and/or correction to the Debtor Report offline as referred to in paragraph (2) and the written notification as referred to in paragraph (2) and paragraph (4), are submitted to:
    a. the department carrying out licensing and banking information functions, for Reporters headquartered in the Special Capital Region of Jakarta Province or Banten Province; or b. the OJK regional office or local OJK office, for Reporters headquartered outside the Special Capital Region of Jakarta Province or Banten Province.
23. The provisions of paragraph (1), paragraph (2), and paragraph (4) of Article 15 are amended, and 1 (one) paragraph is added, namely paragraph (5), so that Article 15 reads as follows:
    Article 15
    (1) Reporters who have fulfilled reporting obligations as referred to in Article 4 can request Debtor Information as referred to in Article 14 paragraph (2) from the OJK online through SLIK. (2) Online request for Debtor Information as referred to in paragraph (1), can be done through the Reporter's head office and/or Reporter branch office. (3) Reporters are required to account for all requests for Debtor Information through SLIK made by the Reporter, which at least include:
    a. date of request; b. Debtor's identity number;
    c. Debtor's name;
    d. purpose of Debtor Information; and e. employees who submit the request and receive Debtor Information.
    (4) Reporters are prohibited from using Debtor Information obtained as referred to in paragraph (1) for purposes other than for the Reporter for:
    a. supporting the smoothness of the process of providing Funding Facilities; b. applying credit or financing risk management;
    c. identifying Debtor quality for compliance with OJK or other competent party regulations;
    d. human resource management at the Reporter; and/or e. verification for Reporter cooperation with third parties.
    (5) Reporters are required to account for documents related to the use of Debtor Information as referred to in paragraph (4) for verification of the use of Debtor Information.
24. 2 (two) articles are inserted between Article 15 and Article 16, namely Article 15A and Article 15B, so that they read as follows:
    Article 15A
    (1) Reporters can only access Debtor Information data at most 100% (one hundred percent) of the number of Debtors reported in the data position of the 2 (two) previous reporting months. (2) In the event that the Reporter needs Debtor Information exceeding the maximum request limit for Debtor Information as referred to in paragraph (1), the Reporter submits an application for approval to the OJK. (3) Further provisions regarding the procedures for submitting requests for Debtor Information as referred to in paragraph (2) are established by the OJK.
    Article 15B
    Reporters are prohibited from giving and/or selling Debtor Information obtained from SLIK to other parties.
25. The provisions of paragraph (2) and paragraph (3) of Article 18 are amended, so that they read as follows:
    Article 18
    (1) Debtors can request Debtor Information for the name of the Debtor concerned to the OJK or to the Reporter from the Debtor concerned.
    (2) The request for Debtor Information as referred to in paragraph (1), is submitted by:
    a. written application submitted directly by the Debtor concerned or the authorized party; or b. online application through the OJK information system.
    (3) Further provisions regarding the procedures for requesting Debtor Information by Debtors as referred to in paragraph (2) are established by the OJK.
26. The provisions of Article 19 are amended so that it reads as follows:
    Article 19
    (1) LPIP as referred to in Article 14 paragraph (1) letter c can obtain Debtor Information for the implementation of business activities in accordance with OJK Regulations concerning credit information management institutions. (2) The OJK can stop access to Debtor Information by LPIP as referred to in paragraph (1) with certain considerations.
27. The provisions of Article 25 are amended so that it reads as follows:
    Article 25
    (1) In the event that the Reporter cannot resolve complaints regarding the inaccuracy of Debtor Information as referred to in Article 24 paragraph (1) and paragraph (2), the Debtor can take complaint resolution efforts through the OJK or an alternative dispute resolution institution. (2) For Reporters that are LJK, handling and resolution of complaints in accordance with OJK Regulations concerning consumer protection in the financial services sector.
28. 1 (one) article is inserted between Article 29 and Article 30, namely Article 29A, so that it reads as follows:
    Article 29A
    (1) Reporters are required to conduct internal audits of the implementation of SLIK at least 1 (one) time per year.
    (2) Internal audit of SLIK implementation as referred to in paragraph (1) at least covers reporting and requesting Debtor Information.
    (3) For Reporters that do not have an internal audit work unit, internal audit activities can be carried out by the organ carrying out the internal audit function.
29. The provisions of paragraph (1), paragraph (3), and paragraph (4) of Article 30 are amended, so that they read as follows:
    Article 30
    (1) Reporters are required to appoint implementing employees and/or officials that include functions for:
    a. submitting Debtor Reports; b. verifying Debtor Reports;
    c. submitting requests and receiving Debtor Information;
    d. administering and managing SLIK user access rights internally at the Reporter; e. handling Debtor complaints; f. securing Debtor Information data; and g. supervising requests for Debtor Information. (2) The appointment of implementing employees and/or officials as referred to in paragraph (1) with considering the principle of segregation of duties and adjusted to the complexity of the Reporter's business activities. (3) Reporters are required to submit the implementing employees and/or officials appointed to carry out functions as referred to in paragraph (1) letter d to the OJK within a period of at the latest 3 (three) months calculated from the date of being established as a Reporter by the OJK. (4) In the event of changes to implementing employees and/or officials appointed as referred to in paragraph (1), Reporters are required to:
    a. submit to the OJK changes to implementing employees and/or officials carrying out the function of administering and managing SLIK user access rights internally at the Reporter, at the latest 7 (seven) working days after the change occurs; and b. adjust SLIK user access rights internally at the Reporter.
30. The provisions of paragraph (1) and paragraph (2) of Article 31 are amended and 3 (three) paragraphs are added, namely paragraph (4), paragraph (5), and paragraph (6), so that Article 31 reads as follows:
    Article 31
    (1) The OJK conducts direct and/or indirect supervision regarding the implementation of SLIK against LJK that are Reporters.
    (2) The OJK has the authority to conduct direct and/or indirect supervision regarding the implementation of SLIK against other institutions that are not LJK that are Reporters.
    (3) Reporters are required to provide information to the OJK in the framework of supervision implementation as referred to in paragraph (1) and paragraph (2).
    (4) The OJK can establish policies regarding the implementation of SLIK based on considerations for certain conditions.
    (5) The OJK has the authority to cancel approval to other institutions that are not LJK that are Reporters.
    (6) The OJK can add link descriptions regarding certain information on SLIK.
31. The provisions of Article 32 are amended so that it reads as follows:
    Article 32
    Reporters who violate the provisions as referred to in Article 2 paragraph (1), Article 2 paragraph (3), Article 4 paragraph (1), Article 4 paragraph (2), Article 4 paragraph (4), Article 4 paragraph (5), Article 6, Article 11 paragraph (2), Article 13, Article 15 paragraph (3), Article 15 paragraph (5), Article 16 paragraph (1), Article 17 paragraph (1), Article 23 paragraph (1), Article 23 paragraph (2), Article 24 paragraph (1), Article 24 paragraph (3), Article 24 paragraph (4), Article 27, Article 28, Article 29, Article 29A paragraph (1), Article 30 paragraph (1), Article 30 paragraph (3), Article 30 paragraph (4), and/or Article 31 paragraph (3) are subject to administrative sanctions in the form of written reprimands or written warnings.
32. The provisions of Article 33 are amended so that it reads as follows:
    Article 33
    (1) Reporters who do not submit the Debtor Report after the end of the submission deadline for the Debtor Report as referred to in Article 8 paragraph (1), are subject to administrative sanctions in the form of:
    a. fines

1. for Reporters with assets of at least IDR 500,000,000,000.00 (five hundred billion Rupiah), amounting to IDR 1,000,000.00 (one million Rupiah) per working day of delay and at most IDR 30,000,000.00 (thirty million Rupiah); or
2. for Reporters with assets of less than IDR 500,000,000,000.00 (five hundred billion Rupiah), amounting to IDR 100,000.00 (one hundred thousand Rupiah) per working day of delay and at most IDR 3,000,000.00 (three million Rupiah); and
   b. suspension of provision of Debtor Information until the Debtor Report is received by the OJK.
   (2) The calculation of assets as the basis for the imposition of administrative sanctions in the form of fines as referred to in paragraph (1) letter a is carried out based on the asset amount at the position of December 31 of the previous year.

19. Article 34 provisions are amended to read as follows:

Article 34
(1) A Reporting Entity that fails to submit a Debtor Information Correction after the final submission deadline as referred to in Article 8 paragraph (2) letter a, shall be subject to administrative sanctions in the form of a fine:
a. for a Reporting Entity with assets of at least Rp500,000,000,000.00 (five hundred billion rupiah), amounting to Rp50,000.00 (fifty thousand rupiah) per Debtor and a maximum of Rp20,000,000.00 (twenty million rupiah); or b. for a Reporting Entity with assets of less than Rp500,000,000,000.00 (five hundred billion rupiah), amounting to Rp10,000.00 (ten thousand rupiah) per Debtor and a maximum of Rp2,000,000.00 (two million rupiah); the maximum total sanction is the accumulation at the data month position when the Reporting Entity submits the Debtor Information Correction.

(2) Information errors submitted in the Debtor Information Report based on OJK findings as referred to in Article 7 letter b, shall be subject to administrative sanctions in the form of a fine:
a. for a Reporting Entity with assets of at least Rp500,000,000,000.00 (five hundred billion rupiah), amounting to Rp50,000.00 (fifty thousand rupiah) per Debtor and a maximum of Rp50,000,000.00 (fifty million rupiah); or b. for a Reporting Entity with assets of less than Rp500,000,000,000.00 (five hundred billion rupiah), amounting to Rp10,000.00 (ten thousand rupiah) per Debtor and a maximum of Rp10,000,000.00 (ten million rupiah); the maximum total sanction is the accumulation per OJK examination.

(3) The asset calculation as the basis for imposing administrative sanctions in the form of fines as referred to in paragraph (1) and paragraph (2) is conducted based on the asset amount as of December 31 of the previous year.

(4) A Reporting Entity that fails to submit a Debtor Information Correction as referred to in paragraph (2) until the end of the month of the final submission deadline for reports as referred to in Article 8 paragraph (2) letter b, shall be subject to administrative sanctions in the form of suspension of Debtor Information provision until all Debtor Information Corrections are received by OJK.

(5) Reporting Entities are exempt from the imposition of administrative sanctions in the form of fines as referred to in paragraph (1) and paragraph (2) if the delay in submitting the Debtor Information Correction is caused by the data quality improvement program implemented by OJK.

20. Between Article 34 and Article 35, 1 (one) article is inserted, namely Article 34A, so that it reads as follows:

Article 34A
(1) In the event of input errors in the Debtor Information Report that result in input errors in other reports submitted to OJK, administrative sanctions in the form of fines shall not be imposed on the input errors in the aforementioned other reports.

(2) Reporting Entities that have been subject to administrative sanctions as referred to in Article 33 paragraph (1), Article 34 paragraph (1), Article 34 paragraph (2), and/or Article 34 paragraph (4), remain obligated to submit Debtor Information Reports and/or Debtor Information Corrections.

(3) Reporting Entities that fail to comply with the provisions as referred to in paragraph (2) shall be subject to administrative sanctions in the form of written reprimands or written warnings.

(4) In the imposition of administrative sanctions as referred to in Article 34 paragraph (1) and/or Article 34 paragraph (2), Financial Institution Units (LJK) that have Sharia business units are calculated as 1 (one) Reporting Entity.

21. Article 35 provisions are amended to read as follows:

Article 35
(1) Reporting Entities that request and use Debtor Information not in accordance with the provisions as referred to in Article 15 paragraph (4) and Article 15B shall be subject to administrative sanctions in the form of fines as follows:
a. for Reporting Entities with assets of more than Rp20,000,000,000,000.00 (twenty trillion rupiah), amounting to Rp50,000,000.00 (fifty million rupiah) for each Debtor Information and a maximum of Rp5,000,000,000.00 (five billion rupiah); b. for Reporting Entities with assets of Rp500,000,000,000.00 (five hundred billion rupiah) up to Rp20,000,000,000,000.00 (twenty trillion rupiah), amounting to Rp50,000,000.00 (fifty million rupiah) for each Debtor Information and a maximum of Rp500,000,000.00 (five hundred million rupiah); or
c. for Reporting Entities with assets of less than Rp500,000,000,000.00 (five hundred billion rupiah), amounting to Rp10,000,000.00 (ten million rupiah) for each Debtor Information and a maximum of Rp100,000,000.00 (one hundred million rupiah).

(2) The asset calculation as the basis for imposing administrative sanctions in the form of fines as referred to in paragraph (1) is based on the asset amount as of December 31 of the previous year.

22. Article 36 provisions are amended to read as follows:

Article 36
(1) Reporting Entities that are Financial Institution Units (LJK) violating provisions as referred to in Article 7 letter b, Article 8 paragraph (1), Article 8 paragraph (2), Article 15 paragraph (4), Article 15B, and/or Article 34A paragraph (2) in addition to being subject to administrative sanctions in the form of written reprimands or warnings, fines, and/or other administrative sanctions as referred to in Article 32, Article 33, Article 34, Article 34A paragraph (3), and/or Article 35, may be subject to administrative sanctions in the form of:
a. reduction of health rating; b. prohibition on issuing products or conducting new activities; and/or
c. suspension of certain business activities.

(2) In the event that the Board of Directors and/or executive officials of Reporting Entities that are Financial Institution Units (LJK) fail to comply with the provisions as referred to in Article 32, Article 33, Article 34, and/or Article 35, they may be subject to administrative sanctions in the form of prohibitions as a principal party in accordance with OJK Regulations regarding the re-evaluation of principal parties of financial service institutions.

(3) In the event that Reporting Entities are other institutions that are not Financial Institution Units (LJK) violating provisions as referred to in Article 7 letter b, Article 8 paragraph (1), Article 8 paragraph (2), Article 15 paragraph (4), Article 15B, and/or Article 34A paragraph (2), they may be subject to administrative sanctions other than administrative sanctions as referred to in Article 32, Article 33, Article 34, Article 34A paragraph (3), and/or Article 35.

(4) OJK recommends the imposition of other administrative sanctions as referred to in paragraph (3) in coordination with the supervisory authority of the Reporting Entity that is another institution that is not a Financial Institution Unit (LJK).

23. Article 37 provisions are amended to read as follows:

Article 37
For new Reporting Entities, the implementation of the imposition of sanctions as referred to in Article 33 paragraph (1), Article 34 paragraph (1), and/or Article 34 paragraph (2) shall take effect 9 (nine) months from the deadline for the obligation to submit the Debtor Information Report for the first time.

24. Between CHAPTER XII and CHAPTER XIII, 1 (one) chapter is inserted, namely CHAPTER XIIA Article 37A, so that it reads as follows:

CHAPTER XIIA
OTHER PROVISIONS

25. Between Article 37 and Article 38, 1 (one) article is inserted, namely Article 37A, so that it reads as follows:

Article 37A
(1) The obligation to become a Reporting Entity for Securities Companies conducting business as securities trading intermediaries as referred to in Article 2 paragraph (1) letter e is no later than February 28, 2021.

(2) The obligation to become a Reporting Entity for Securities Financing Institutions as referred to in Article 2 paragraph (1) letter f is no later than December 31, 2021.

(3) Securities Companies conducting business as securities trading intermediaries as referred to in Article 2 paragraph (1) letter e that have not been able to submit the full scope of Debtor Information Reports as referred to in Article 4 paragraph (6) completely, must fulfill report completeness in accordance with OJK Circular Letters that are the implementing regulations of this OJK Regulation, no later than for the data position of November 2022.

(4) Venture capital companies and infrastructure financing companies are designated as Reporting Entities no later than December 31, 2022.

(5) The obligation to become a Reporting Entity for pawnshops that, at the time this OJK Regulation takes effect, have not yet become Reporting Entities in accordance with OJK Regulation Number 18/POJK.03/2017 on Debtor Information Reporting and Request via the Financial Information Service System, is no later than December 31, 2025.

(6) The obligation for Reporting Entities that are financing companies for the development of cooperatives, small and medium enterprises, to submit Debtor Information Reports in the form of transactions fostering prosperous family economies is no later than for the data position of December 2025.

26. Article 38 provisions are repealed.

Article II

1. Reporting Entities that commit violations against the provisions on reporting and requesting Debtor Information via SLIK before the implementation of this OJK Regulation, examinations and/or decisions regarding violations are based on OJK Regulation Number 18/POJK.03/2017 on Debtor Information Reporting and Request via the Financial Information Service System.

2. Reporting Entities that commit violations as referred to in paragraph (1) are subject to administrative sanctions as referred to in Article 33, Article 34, Article 34A paragraph (3), Article 35, and/or Article 36 of this OJK Regulation.

3. In the event that Reporting Entities commit violations against the provisions on reporting and requesting Debtor Information via SLIK before the implementation of this OJK Regulation that are discovered by the Reporting Entity or OJK after the implementation of this OJK Regulation, Reporting Entities are subject to administrative sanctions as referred to in this OJK Regulation.

4. This OJK Regulation shall take effect upon being enacted.

This copy is consistent with the original
Director of Law 1
Legal Department signed
Mufli Asmawidjaja

For the knowledge of everyone, ordering the enactment of this OJK Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on December 28, 2020
CHAIRMAN OF THE COMMISSIONERS BOARD
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
WIMBOH SANTOSO

Enacted in Jakarta on December 29, 2020
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, signed
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2020 NUMBER 302

EXPLANATION
OF
FINANCIAL SERVICES AUTHABILITY REGULATION
REPUBLIC OF INDONESIA
NUMBER 64 /POJK.03/2020
ON
AMENDMENT TO FINANCIAL SERVICES AUTHORITY REGULATION NUMBER 18/POJK.03/2017 ON REPORTING AND REQUESTING DEBTOR INFORMATION THROUGH THE FINANCIAL INFORMATION SERVICE SYSTEM

I. GENERAL
In carrying out its duties and functions, OJK has developed SLIK as a medium for exchanging Debtor Information among Financial Institution Units (LJK). In the development of SLIK implementation, there is a need to expand the scope of Reporting Entities that provide Fund Provision Facilities to Debtors and to support effective supervision in the financial services sector, both in the banking, capital market, and non-bank financial industry sectors.

SLIK can be utilized to facilitate the fund provision process, the application of credit or financing risk management, debtor quality assessment, human resource management within Reporting Entities, verification for cooperation between Reporting Entities and third parties, and to increase financial industry discipline. To increase the effectiveness of SLIK implementation and mitigate the misuse of Debtor Information, adjustments are needed regarding the submission and use of Debtor Information by both Reporting Entities and other parties using SLIK.

In light of the above, it is necessary to adjust provisions regarding the reporting and requesting of Debtor Information through the financial information service system, in order to increase the effectiveness and efficiency of SLIK administration.

II. ARTICLE BY ARTICLE
Article I
Number 1
Article 1
Sufficiently clear.

Number 2
Article 2
Paragraph (1)
Letter a
Sufficiently clear.

Letter b
Sufficiently clear.

Letter c
Sufficiently clear.

Letter d
Sufficiently clear.

Letter e
Sufficiently clear.

Letter f
Sufficiently clear.

Letter g
Financing companies for the development of cooperatives, small and medium enterprises include PT Permodalan Nasional Madani (Persero).

Letter h
The OJK Regulations referred to include OJK Regulations regarding the activities and operations of Financial Institution Units (LJK).

Paragraph (2)
Sufficiently clear.

Paragraph (3)
Reporting submitted by Sharia business units is conducted separately and independently.

Number 3
Article 3
Paragraph (1)
The Financial Institution Units (LJK) referred to include microfinance institutions.

Paragraph (1a)
Letter a
Adequate infrastructure includes organizational structure, human resources, computer equipment, and data communication networks required in SLIK.

Letter b
Sufficiently clear.

Paragraph (2)
Letter a
Sufficiently clear.

Letter b
Adequate infrastructure includes organizational structure, human resources, computer equipment, and data communication networks required in SLIK.

Letter c
Sufficiently clear.

Letter d
The term "agreement on participation in reporting and requesting Debtor Information via SLIK" refers to the agreement between Reporting Entities and OJK regarding the participation of Reporting Entities in SLIK.

Letter e
Healthy financial conditions mean the financial condition at the time of registration for the last 2 (two) consecutive semesters is stated to be healthy, proven by a recommendation from the supervisory authority of the Reporting Entity that is another institution that is not a Financial Institution Unit (LJK). Example:
A Cooperative applying to become a Reporting Entity must obtain a recommendation from the ministry or institution supervising cooperatives stating that the cooperative has healthy financial conditions for the last 2 (two) consecutive semesters.

Letter f
Sufficiently clear.

Letter g
Sufficiently clear.

Paragraph (3)
Sufficiently clear.

Number 4
Article 3A
Sufficiently clear.

Number 5
Article 4
Paragraph (1)
Sufficiently clear.

Paragraph (2)
Letter a
Information regarding Debtors includes information such as name, identity number, place of birth, date of birth, address, telephone number, mobile number, email address, Taxpayer Identification Number (NPWP), mother's maiden name, partner information, occupation, Debtor-Reporting Entity relationship, and Debtor income.

Letter b
Information regarding Fund Provision Facilities includes information such as the type of fund provision, the amount of facilities provided, and the quality of fund provision, including funds written off, written off, or resolved through collateral takeover or judicial settlement, and risk participation transactions. Risk participation transactions reported include risk participation transactions that are part of other General Banks' obligations in foreign currency, namely risk participation transactions that meet the following requirements:
a. conducted by General Banks as grantors with other non-resident parties as participants; b. accompanied by fund flows from non-resident parties as participants to General Banks as grantors when the transaction becomes effective (funded); and
c. without the transfer of claim rights from General Banks as grantors to other non-resident parties as participants, in accordance with applicable laws and regulations regarding foreign currency debts of banks and other obligations of banks in foreign currency.
The determination of fund provision quality is in accordance with applicable laws and regulations for each Reporting Entity.

Letter c
Information regarding collateral includes information such as proof of ownership, collateral value, valuation date, collateral availability, collateral location, and type of collateral encumbrance.

Letter d
Information regarding guarantors includes information such as the guarantor's identity number or NPWP, guarantor name, guarantor address, and percentage of guaranteed portion.

Letter e
Information regarding managers and owners is reported for corporate Debtor types, including information such as name, address, identity number or NPWP, position, and ownership share.

Letter f
Debtor financial information is obtained from Debtor financial reports, including information on financial position and profit/loss statement items.

Paragraph (3)
Sufficiently clear.

Paragraph (4)
Debtor Information Reports submitted include reports from headquarters, branches, sub-branches, and/or similar entities that provide Fund Provision Facilities.

Paragraph (4a)
Fiducia guarantee loans in accordance with OJK Regulations regarding pawnshop business.

Paragraph (5)
Sufficiently clear.

Paragraph (6)
Sufficiently clear.

Number 6
Article 8
Paragraph (1)
Example:
Debtor Information Report for data position February 2021 must be submitted no later than March 12, 2021.

Paragraph (2)
Letter a
Example:
Debtor Information Correction Report for data position February 2021 must be submitted no later than March 12, 2021.

Letter b
Sufficiently clear.

Paragraph (3)
Holidays include national holidays and joint holidays.
The term "next working day" refers to the working day after the holiday period.
Example:
Debtor Information Reports and/or Debtor Information Correction Reports for data position May 2021 submitted no later than June 12, 2021, which is a Saturday, the final submission deadline for Debtor Information Reports and/or Debtor Information Correction Reports for data position May 2021 is Monday, June 14, 2021.

Paragraph (4)
Letter a
Sufficiently clear.

Letter b
Conditions that significantly impact the submission period of Debtor Information Reports and/or Debtor Information Correction Reports include long-duration holidays and joint holidays for Eid al-Fitr celebrations and/or pandemic disease periods coinciding with the submission period of Debtor Information Reports and/or Debtor Information Correction Reports.

Paragraph (5)
The date Debtor Information Reports and/or Debtor Information Correction Reports are received by OJK is the date stated on the receipt of Debtor Information Reports and/or Debtor Information Correction Reports from SLIK for online or offline submission.

Number 7
Sufficiently clear.

Number 8
Article 10
Paragraph (1)
The term "submitting Debtor Information Reports and/or Debtor Information Correction Reports online" refers to the submission of Debtor Information Reports and/or Debtor Information Correction Reports by Reporting Entities by sending or transferring Debtor Information Reports and/or Debtor Information Correction Reports data records directly through networks connected to SLIK.

Paragraph (2)
The term "technical disturbance" refers to disturbances that prevent Reporting Entities from submitting Debtor Information Reports and/or Debtor Information Correction Reports online, including disturbances in data communication networks and power outages. The term "submitting Debtor Information Reports and/or Debtor Information Correction Reports offline" refers to the submission of Debtor Information Reports and/or Debtor Information Correction Reports by Reporting Entities by submitting Debtor Information Reports and/or Debtor Information Correction Reports data records to OJK, including in the form of compact discs or optical discs. Supporting documents include letters or announcements from data communication network providers in the event of data communication disturbances and/or letters from power network providers in the event of power outages, or documents stating that efforts have been made to submit SLIK reports online. Debtor Information Reports and/or Debtor Information Correction Reports submitted offline by Reporting Entities and uploaded by OJK remain the responsibility of the Reporting Entity.

Paragraph (3)
Repealed.

Paragraph (4)
Force majeure consists of natural disasters, non-natural disasters, and/or social disasters that disrupt the operational activities of Reporting Entities, certified by officials of the relevant local government agency.

Paragraph (5)
Sufficiently clear.

Number 9
Article 15
Paragraph (1)
Sufficiently clear.

Paragraph (2)
Sufficiently clear.

Paragraph (3)
The term "accounting for" refers to the accounting of every request for Debtor Information, whether manual or through information technology facilities.

Paragraph (4)
Letter a
Sufficiently clear.

Letter b
Example:
The use of Debtor Information for monitoring existing Debtors, conducting audits, and applying anti-fraud strategies, but does not include the preparation of prospect lists (prospect lists) for potential Debtors and cross-selling other than Reporting Entity customers.

Letter c
Other authorized parties include supervisory authorities of Reporting Entities that are other institutions that are not Financial Institution Units (LJK).
Example:
The use of Debtor Information for quality equalization of one Debtor or one same project in accordance with applicable laws and regulations.

Letter d
Example:
The use of Debtor Information for the selection process of prospective employees of Reporting Entities.

Letter e
Example:
The use of Debtor Information for the selection of partners, agents, merchants, or vendors of Reporting Entities.

Paragraph (5)
Example:
Fund Provision Facility granting process documents include documents such as credit or financing application forms submitted to Reporting Entities.

Number 10
Article 15A
Paragraph (1)
Example:
If in the data position of February 2021 a Reporting Entity submits reports for 1,000 (one thousand) Debtors, the Reporting Entity can access Debtor Information data for a maximum of 1,000 (one thousand) Debtors in April 2021.

Paragraph (2)
Debtor Information needs exceeding the maximum limit for requesting Debtor Information include:
a. Reporting Entities' need to understand final Debtors in the process of channeling credit or financing disbursement or securitization financing or investment in accordance with the Reporting Entity's business activities; b. Reporting Entities that are new Reporting Entities; and/or
c. Reporting Entities that undergo mergers, consolidations, takeovers, integrations, conversions, and separations.

Paragraph (3)
Sufficiently clear.

Article 15B
Sufficiently clear.

Number 11
Article 18
Paragraph (1)
Sufficiently clear.

Paragraph (2)
Letter a
The term "submitted directly by Debtors" refers to the Debtors themselves visiting OJK or Reporting Entity offices.

Letter b
Sufficiently clear.

Paragraph (3)
Sufficiently clear.

Number 12
Article 19
Paragraph (1)
Sufficiently clear.

Paragraph (2)
Specific considerations include situations where serious conditions disrupt the business continuity of Financial Institution Units (LPIP).

Number 13
Article 25
Sufficiently clear.

Number 14
Article 29A
Paragraph (1)
Sufficiently clear.

Paragraph (2)
SLIK implementation audits can be special audits or general audits with examination scopes covering SLIK, whether conducted through physical examinations or through information systems.

Paragraph (3)
Sufficiently clear.

Number 15
Article 30
Paragraph (1)
Sufficiently clear.

Paragraph (2)
The principle of segregation of duties includes the separation of duties between work units or units that submit Debtor Information Reports and verify Debtor Information Reports, with work units or units that handle Debtor complaint resolution functions.

Paragraph (3)
Sufficiently clear.

Paragraph (4)
Sufficiently clear.

Number 16
Article 31
Paragraph (1)
Supervision is conducted through:
a. direct supervision, which is direct supervision conducted by examining Reporting Entities; and/or b. indirect supervision, which is indirect supervision through research, analysis, and evaluation of Debtor Information Reports submitted by Reporting Entities to OJK and/or other information obtained by OJK.

Paragraph (2)
Sufficiently clear.

Paragraph (3)
Sufficiently clear.

Paragraph (4)
Policies regarding SLIK implementation based on specific considerations include adjustments to the scope of Debtor Information Reports caused by incomplete Reporting Entity documents for written-off credits or financing, the purpose of using Debtor Information, and the operational time for requesting Debtor Information.

Paragraph (5)
Considerations for canceling approval to become a Reporting Entity include other institutions that are not Financial Institution Units (LJK) no longer meeting the requirements to become Reporting Entities or other considerations.

Paragraph (6)
Sufficiently clear.

Number 17
Article 32
Sufficiently clear.

Number 18
Article 33
Paragraph (1)
Letter a)
Number 1)
Example:
A Reporting Entity with assets of at least Rp500,000,000,000.00 (five hundred billion rupiah) submits a Debtor Information Report for data position March 2021 on Friday, April 16, 2021. The Reporting Entity is declared late in submitting the Debtor Information Report for 4 (four) working days, namely Tuesday, Wednesday, Thursday, and Friday, so the Reporting Entity is subject to administrative sanctions in the form of a fine of 4 (four) x Rp1,000,000.00 (one million rupiah) = Rp4,000,000.00 (four million rupiah).

Number 2)
Example:
A Reporting Entity with assets of less than Rp500,000,000,000.00 (five hundred billion rupiah) submits a Debtor Information Report for data position March 2021 on

Friday, April 16, 2021, the Reporting Entity is declared late in submitting the Debtor Report for 4 (four) working days, namely Tuesday, Wednesday, Thursday, and Friday, so the Reporting Entity is subject to an administrative sanction in the form of a fine of 4 (four) x Rp100,000.00 (one hundred thousand rupiah) = Rp400,000.00 (four hundred thousand rupiah).

Letter b
Example:
Reporting Entities as referred to in example numbers 1) and 2) are subject to administrative sanctions in the form of fines and also subject to administrative sanctions in the form of suspension of the provision of Debtor Information from April 13, 2021 to April 16, 2021.

Paragraph (2)
Example:
Calculation of administrative sanctions in the form of fines for Debtor Reports for data positions for August 2021 refers to the asset amount as of December 31, 2020.

Number 19
Article 34

Paragraph (1)
The month for submitting corrections to the Debtor Report is the position where the Reporting Entity submits corrections to SLIK.

Debtors are calculated as 1 (one) Debtor if the data corrected is Debtor data for the same period, even if the Reporting Entity makes several corrections to the said data in a specific month.

Example:
Reporting Entities in August 2021 submitted 2 (two) corrections for Debtors “A”, “B”, “C”, “D”, and “E” for the Debtor Report for data positions for March 2021, for penalty calculations, Debtors are calculated as 5 (five) even though corrections were made 2 (two) times in the same month period.

Example calculation of administrative sanctions in the form of fines for corrections to Reports:

Example 1:
Reporting Entities with assets of at least Rp500,000,000,000.00 (five hundred billion rupiah) submitted corrections to the Debtor Report in February 2021 for 35 (thirty-five) Debtors in the Debtor Report for data positions for December 2020.

For the said violation, the Reporting Entity is subject to administrative sanctions in the form of a fine of 35 (thirty-five) Debtors x Rp50,000.00 (fifty thousand rupiah) = Rp1,750,000.00 (one million seven hundred fifty thousand rupiah).

Example 2:
Reporting Entities with assets of at least Rp500,000,000,000.00 (five hundred billion rupiah) submitted corrections to the Debtor Report in August 2021 for several data positions for the Debtor Report as follows:

1. Debtor Report for data positions for August 2019: 50 (fifty) Debtors;
2. Debtor Report for data positions for June 2020: 100 (one hundred) Debtors;
3. Debtor Report for data positions for July 2020: 80 (eighty) Debtors;
4. Debtor Report for data positions for September 2020: 50 (fifty) Debtors;
5. Debtor Report for data positions for December 2020: 50 (fifty) Debtors;
6. Debtor Report for data positions for January 2021: 100 (one hundred) Debtors;
7. Debtor Report for data positions for March 2021: 60 (sixty) Debtors; and
8. Debtor Report for data positions for June 2021: 20 (twenty) Debtors.

The total number of Debtors reported in the corrections to the Debtor Report submitted in August 2021 is 510 (five hundred ten) Debtors. For the said violation, the Reporting Entity is subject to administrative sanctions in the form of a fine of 510 (five hundred ten) Debtors x Rp50,000.00 (fifty thousand rupiah) = Rp25,500,000.00 (twenty-five million five hundred thousand rupiah). Thus, the Reporting Entity is subject to administrative sanctions in the form of a fine of at most Rp20,000,000.00 (twenty million rupiah).

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Clearly sufficient.

Number 20
Article 34A

Paragraph (1)
Other reports include credit restructuring reports and follow-up reports for the 15 largest non-performing loan Debtors.

Paragraph (2)
The deadline for submitting Debtor Reports and/or corrections to Debtor Reports as determined by OJK.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Example 1:
Bank “A” with assets of Rp700,000,000,000.00 (seven hundred billion rupiah) has a Sharia business unit “P” with assets of Rp50,000,000,000.00 (fifty billion rupiah). In August 2021, there were corrections to the Debtor Report for data positions for June 2021 as follows:

1. Bank “A” made corrections to the Debtor Report for 380 (three hundred eighty) Debtors; and
2. Sharia business unit “P” made corrections to the Debtor Report for 50 (fifty) Debtors.

For the said violation, the Reporting Entity is subject to administrative sanctions in the form of a fine of (380 (three hundred eighty) Debtors + 50 (fifty) Debtors) x Rp50,000.00 (fifty thousand rupiah) = Rp21,500,000.00 (twenty-one million five hundred thousand rupiah). Thus, Bank “A” is subject to administrative sanctions in the form of a fine of at most Rp20,000,000.00 (twenty million rupiah).

Example 2:
Bank “B” with assets of Rp700,000,000,000.00 (seven hundred billion rupiah) has a Sharia business unit “Q” with assets of Rp50,000,000,000.00 (fifty billion rupiah). In August 2021, Sharia business unit “Q” made corrections to the Debtor Report for 50 (fifty) Debtors in the Debtor Report for data positions for June 2021.

For the said violation, Bank “B” is subject to administrative sanctions in the form of a fine of 50 (fifty) Debtors x Rp50,000.00 (fifty thousand rupiah) = Rp2,500,000.00 (two million five hundred thousand rupiah) for the late submission of corrections to the Debtor Report for Sharia business unit “Q”.

Number 21
Article 35
Clearly sufficient.

Number 22
Article 36

Paragraph (1)
Clearly sufficient.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Administrative sanctions other than administrative sanctions in the form of fines and suspension of the provision of Debtor Information include the downgrade of health levels.

Paragraph (4)
Clearly sufficient.

Number 23
Article 37
Example:
LJK was designated as a Reporting Entity in December 2020. Subsequently, the Reporting Entity is required to submit the first Debtor Report at the latest on April 12, 2021 for data positions for March 2021. Thus, the Reporting Entity begins to be subject to sanctions for violations of the submission of Debtor Reports for data positions for December 2021 reported at the latest on January 12, 2022.

Number 24
Clearly sufficient.

Number 25
Article 37A

Paragraph (1)
Clearly sufficient.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Venture capital companies and infrastructure financing companies that at the time this OJK Regulation takes effect have not yet become Reporting Entities in accordance with OJK Regulation Number 18/POJK.03/2017 on Debtor Reporting and Information Requests via the Financial Information Service System.

Paragraph (5)
Clearly sufficient.

Paragraph (6)
Clearly sufficient.

Number 26
Clearly sufficient.

Article II
Clearly sufficient.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 6607