Regulatory AlertsFinancial Conglomerates and Parent Companies of Financial Conglomerates
The Financial Services Authority (OJK) issued Regulation No. 30 of 2024 to harmonize the legal framework for issuing Written Orders to Financial Institutions regarding mergers, consolidations, takeovers, integrations, and conversions. This regulation aligns OJK's supervisory powers with the mandates of the Financial Sector Development and Strengthening Law (UU P2SK) and the OJK Law to ensure legal certainty and justice. It establishes the principle-based standards for Written Orders while maintaining the validity of specific prior regulations that do not conflict with this new framework.
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