Regulatory AlertsAssessment of Competence and Propriety of Principal Parties of Non-Operational Financial Conglomerate Holding Companies
The Financial Services Authority (OJK) issued Circular Letter No. 18/SEOJK.03/2025 to implement POJK No. 30 of 2024 regarding financial conglomerates. This regulation establishes the guidelines and procedures for assessing the competence and propriety of principal parties of non-operational financial conglomerate holding companies. It defines key terms, outlines the assessment mechanism, and specifies administrative requirements and information submission protocols.
Financial Services Authority Circular Letter Number 18/SEOJK.03/2025 regarding Assessment of Competence and Propriety of Principal Parties of Non-Operational Financial Conglomerate Holding Companies
Abstract: The Financial Services Authority Circular Letter regarding the Assessment of Competence and Propriety of Principal Parties of Non-Operational Financial Conglomerate Holding Companies is drafted to follow up on the issuance of POJK Number 30 of 2024 regarding Financial Conglomerates and Financial Conglomerate Holding Companies.
This Financial Services Authority Circular Letter regulates guidelines or implementation provisions for the assessment of competence and propriety for principal parties of Non-Operational Financial Conglomerate Holding Companies (PIKK).
The legal basis for this Financial Services Authority Circular Letter is: POJK No. 30 of 2024.
This Financial Services Authority Circular Letter regulates: a. Definition of principal parties for Non-Operational PIKK. b. Mechanism and procedures for the implementation of the assessment of competence and propriety for principal parties of Non-Operational PIKK; c. Procedures for information submission; and d. Administrative requirement documents for the implementation of the assessment of competence and propriety for principal parties of Non-Operational PIKK, as well as examples of declaration letter formats.
Note: This Financial Services Authority Circular Letter takes effect on the date it is established. This Financial Services Authority Circular Letter was established on July 24, 2025. This Financial Services Authority Circular Letter applies to Non-Operational PIKK.