Financial Services Authority Regulation Number 69/POJK.04/2017 on Document Maintenance by Stock Exchanges

COPY
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 69 /POJK.04/2017
CONCERNING
DOCUMENT MAINTENANCE BY STOCK EXCHANGES
BY THE GRACE OF GOD THE ALMIGHTY
THE COMMISSIONERS COUNCIL OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that with the enactment of Law Number 21 of 2011 concerning the Financial Services Authority, since December 31, 2012, the functions, duties, and authority for the regulation and supervision of financial services activities in the capital market sector, including regulations regarding document maintenance by stock exchanges, have transferred from the Capital Market and Financial Institution Supervisory Board to the Financial Services Authority; b. that to provide clarity and certainty regarding regulations on document maintenance by stock exchanges, existing regulations in the capital market sector concerning document maintenance by stock exchanges issued prior to the establishment of the Financial Services Authority need to be changed into a Financial Services Authority Regulation;
c. that based on the considerations referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation concerning Document Maintenance by Stock Exchanges;

Recalling:

1. 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);
2. 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);

DECIDING:
To establish:
FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING DOCUMENT MAINTENANCE BY STOCK EXCHANGES.

CHAPTER I
GENERAL PROVISIONS
Article 1
In this Financial Services Authority Regulation, the following terms are defined as:

1. Securities are negotiable instruments, namely debt acknowledgment instruments, commercial paper, shares, bonds, debt certificates, investment contract units, futures contracts on Securities, and any derivatives of Securities.
2. Stock Exchange is a party that organizes and provides systems and/or facilities to bring together buy and sell offers for Securities from other parties with the aim of trading Securities among them.
3. Stock Exchange Member is a securities broker who has obtained a business license from the Financial Services Authority and has the right to use the Stock Exchange's systems and/or facilities in accordance with Stock Exchange regulations.
4. Exchange Transaction is a contract made by a Stock Exchange Member in accordance with the requirements determined by the Stock Exchange regarding the sale and purchase of Securities,
   loan and borrow of Securities, or other contracts regarding Securities or the price of Securities.
5. Issuer is a party that conducts a Public Offering.

CHAPTER II
DOCUMENT MAINTENANCE BY STOCK EXCHANGES
Article 2
Stock Exchanges are required to administer, store, and maintain records, books, data, and written information related to:
a. Issuers whose Securities are listed on the Stock Exchange; b. the status and activities of Stock Exchange Members;
c. the organization of trading and settlement of Exchange Transactions; and
d. the administration and management of the Stock Exchange as a corporation.

Article 3
Documents as referred to in Article 2 letter a consist of at least:
a. the Issuer's articles of association along with all amendments, financial reports, activity reports, reports on changes in Securities ownership, and other reports required by the Stock Exchange to be fulfilled by the Issuer; and b. matters concerning the fulfillment of listing requirements for Securities, criteria for suspension, and cancellation of Securities listing.

Article 4
Documents as referred to in Article 2 letter b consist of at least:
a. a list of Stock Exchange Members and the articles of association of Stock Exchange Members and their amendments; b. a list of names and addresses of board of directors members and board of commissioners members, as well as representatives of underwriters, representatives of securities brokers, and representatives of investment managers;
c. acceptance, resignation, suspension, dismissal, and readmission as Stock Exchange Members;
d. records of activities of Stock Exchange Members and their representatives, including financial difficulties faced by the company and past violations; and e. examination records of Stock Exchange Members and their representatives, as well as disciplinary actions previously taken.

Article 5
Documents as referred to in Article 2 letter c consist of at least:
a. a list of daily Securities transactions detailing the name of Securities traded, price, and number of units for each Security; b. stock price indices;
c. reports regarding untimely or failed settlement of Exchange Transactions;
d. cancelled transactions accompanied by cancellation reasons; e. changes in trading hours at the Stock Exchange and proposals for the implementation of stock exchange holidays; f. temporary suspension of trading of a Security; g. cancellation of Exchange Transactions; h. extraordinary activities or trends of Exchange Transactions occurring at the Stock Exchange;
i. confidential information that the Stock Exchange considers to have significant and relevant influence on the market in general and/or specific Securities in particular;
j. settlement of disputes between Stock Exchange Members; and k. other actions taken in response to trading emergencies.

Article 6
Documents as referred to in Article 2 letter d consist of at least:
a. articles of association along with all amendments; b. the register of shareholders and its administration;
c. minutes of general meetings of shareholders, board of directors meetings and/or board of commissioners meetings, and committee or panel meetings;
d. changes in management up to 1 (one) level below the board of directors; e. formation of committees or panels and/or changes in the composition of membership of such committees or panels; and f. other documents including correspondence, memoranda, papers, books, notifications, announcements, circulars, and other records made or received by the Stock Exchange in connection with the implementation of its business activities.

Article 7
Documents as referred to in Articles 2 through 6 must be available at all times for the purpose of examination by the Financial Services Authority.

Article 8
Documents as referred to in Article 7 must be stored for a minimum period of 5 (five) years.

CHAPTER III
SANCTION PROVISIONS
Article 9
(1) Without prejudice to criminal provisions in the capital market sector, the Financial Services Authority has the authority to impose administrative sanctions on any party that violates the provisions of this Financial Services Authority Regulation, including parties causing the violation, in the form of:
a. written warning; b. fine, namely the obligation to pay a specific amount of money;
c. restriction of business activities;
d. suspension of business activities; e. revocation of business license; f. cancellation of approval; and/or g. cancellation of registration.
(2) Administrative sanctions as referred to in paragraph (1) letters b, c, d, e, f, or g may be imposed with or without prior imposition of an administrative sanction in the form of a written warning as referred to in paragraph (1) letter a. (3) Administrative sanctions in the form of a fine as referred to in paragraph (1) letter b may be imposed separately or together with the imposition of administrative sanctions as referred to in paragraph (1) letters c, d, e, f, or g.

Article 10
In addition to administrative sanctions as referred to in Article 9 paragraph (1), the Financial Services Authority may take specific actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 11
The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 9 paragraph (1) and specific actions as referred to in Article 10 to the public.

CHAPTER IV
CLOSING PROVISIONS
Article 12
Upon the enactment of this Financial Services Authority Regulation, the Decision of the Chairman of the Capital Market and Financial Institution Supervisory Board Number Kep-65/PM/1996 concerning Document Maintenance By Stock Exchanges, along with Regulation Number X.A.2 which is its attachment, is repealed and declared invalid.

Article 13
This Financial Services Authority Regulation shall come into force on the date of its enactment.

This copy is in accordance with the original
Director of Law 1
Legal Department signed
Yuliana

To ensure everyone knows, order the promulgation of this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on December 21, 2017
CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY, signed
WIMBOH SANTOSO

Promulgated in Jakarta on December 22, 2017
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, signed
YASONNA H. LAOLY
STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2017 NUMBER 290

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 69 /POJK.04/2017
CONCERNING
DOCUMENT MAINTENANCE BY STOCK EXCHANGES

I. GENERAL
That since December 31, 2012, the functions, duties, and authority for the regulation and supervision of financial services activities in the capital market sector, insurance, pension funds, financing institutions, and other financial service institutions have transferred from the Minister of Finance and the Capital Market and Financial Institution Supervisory Board to the Financial Services Authority.

In relation to the above, it is necessary to reorganize the existing regulatory structure, particularly those related to the capital market sector, by converting Capital Market and Financial Institution Supervisory Board regulations related to the capital market sector into Financial Services Authority Regulations. This reorganization is carried out so that there are Financial Services Authority Regulations related to the capital market sector that are consistent with Financial Services Authority Regulations in other sectors.

Based on the background thinking and aspects mentioned, it is necessary to replace the existing regulations in the capital market sector regulating document maintenance by Stock Exchanges, namely the Decision of the Chairman of the Capital Market Supervisory Board Number Kep-65/PM/1996 concerning Document Maintenance By Stock Exchanges, along with Regulation Number X.A.2 which is its attachment, into a Financial Services Authority Regulation concerning Document Maintenance By Stock Exchanges.

II. ARTICLE BY ARTICLE
Article 1
Sufficiently clear.
Article 2
Sufficiently clear.
Article 3
Sufficiently clear.
Article 4
Sufficiently clear.
Article 5
Sufficiently clear.
Article 6
Sufficiently clear.
Article 7
Sufficiently clear.
Article 8
Sufficiently clear.
Article 9
Sufficiently clear.
Article 10
Sufficiently clear.
Article 11
Sufficiently clear.
Article 12
Sufficiently clear.
Article 13
Sufficiently clear.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 6158