Regulatory AlertsOJK Regulation No. 32 of 2024 on the Development and Strengthening of Securities Transactions and Institutions
The Financial Services Authority (OJK) issued Regulation No. 32 of 2024 to implement the mandates of the Financial Sector Development and Strengthening Act (UUP2SK) regarding the enhancement of securities transactions and institutions. This regulation establishes new provisions for Self-Regulatory Organizations to provide additional services, expands the use of guarantee funds, and permits debt securities and sukuk issued by Deposit Insurance Corporation institutions. It also defines distress conditions that threaten the continuity of business operations for market organizers, including stock exchanges, clearing and guarantee institutions, depository and settlement institutions, and securities companies.
Regulation /
Regulation Search / Development and Strengthening of Securities Transactions and Institutions
Sector: Capital Market
Sub-Sector: Stock Exchange; Clearing and Guarantee Institution; Securities Company; Securities Institution
Type of Regulation: OJK Regulation
Regulation Number: 32 of 2024
Effective Date: 12/23/2024
Appendix 1
POJK 32 of 2024 Development and Strengthening of Securities Transactions and Institutions.pdf Abstract of POJK 32 of 2024 Development and Strengthening of Securities Transactions and Institutions.pdf FAQ of POJK 32 of 2024 Development and Strengthening of Securities Transactions and Institutions.pdf
Page Content
Financial Services Authority Regulation Number 32 of 2024 concerning the Development and Strengthening of Securities Transactions and Institutions
Abstract:
Chapter V Article 22 of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UUP2SK), which was promulgated on January 12, 2023, has amended, repealed, and/or established new regulations in Law Number 8 of 1995 concerning the Capital Market, including provisions regarding the development and strengthening of the substantive regulation of Securities Transactions and Institutions in the Capital Market.
In relation to the development and strengthening of the substantive regulation of Securities Transactions and Institutions in UUP2SK, there are provisions mandating the Financial Services Authority to conduct further regulation in a Financial Services Authority Regulation.
In response to the mandate of the aforementioned UUP2SK, the Financial Services Authority issued this Financial Services Authority Regulation concerning the Development and Strengthening of Securities Transactions and Institutions as an implementing regulation of UUP2SK.
The legal basis for this Financial Services Authority Regulation (POJK) is: Law No. 8 of 1995 as amended by Law No. 4 of 2023; and Law No. 21 of 2011 as amended by Law No. 4 of 2023.
This Financial Services Authority Regulation regulates provisions regarding Other Services that may be provided by Self-Regulatory Organizations based on the determination or approval of the Financial Services Authority, Guarantee of Securities Transaction Settlement by Clearing and Guarantee Institutions, Expansion of the Use of Guarantee Funds, Trading of Debt Securities and/or Sukuk of Deposit Insurance Corporation Institutions, and Distress Conditions that Endanger the Continuity of Business Operations for Market Organizers in the Capital Market, Stock Exchanges, Clearing and Guarantee Institutions, Depository and Settlement Institutions, and/or Securities Companies.
Note: This Financial Services Authority Regulation takes effect on the date of promulgation. This Financial Services Authority Regulation was promulgated on December 23, 2024, and established on December 19, 2024.