Regulatory AlertsSubmission of Information by Issuers and Public Companies in the Framework of Preparing the Sharia Compliant Securities List
The Financial Services Authority (OJK) issued Circular Letter No. 8/SEOJK.04/2023 to mandate issuers and public companies to submit financial information via the Electronic Reporting System (SPE) for the preparation of the Sharia Compliant Securities List (DES). This regulation aims to enhance the effectiveness and efficiency of the DES selection process by establishing issuers as the primary data source for screening Sharia-compliant shares. It further defines submission deadlines, director responsibilities for data accuracy, and exceptions for force majeure events.
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