Financial Services Authority Regulation Number 22 of 2023 on Consumer and Community Protection in the Financial Services Sector

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA
COPY
FINANCIAL SERVICES AUTHORITY REGULATION
REPUBLIC OF INDONESIA
NUMBER 22 OF 2023
ON
CONSUMER AND COMMUNITY PROTECTION
IN THE FINANCIAL SERVICES SECTOR
BY THE GRACE OF THE ALMIGHTY GOD,
THE COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering:
a. that with the enactment of Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector, the authority of the Financial Services Authority in regulating and supervising consumer and community protection in the financial services sector has been strengthened to improve a reliable consumer protection system, enhance consumer and community empowerment, and foster awareness among financial services business actors; b. that there have been developments in consumer and community protection in the financial services sector caused by the addition of consumer and community protection principles, the expansion of financial services business actors, and the digitalization of products and/or services in the financial services sector, and the increasingly complex and dynamic development of the financial services industry, so it is necessary to strengthen regulations regarding consumer and community protection in the financial services sector;
c. that Financial Services Authority Regulation Number 6/POJK.07/2022 on Consumer and Community Protection in the Financial Services Sector needs to be replaced to adjust to the development of consumer and community protection;
d. that based on the considerations referred to in letters a, b, and c, it is necessary to establish a Financial Services Authority Regulation on Consumer and Community Protection in the Financial Services Sector; Recalling:

Law Number 21 of 2011 on 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) as amended by Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (State Gazette of the Republic of Indonesia Year 2023 Number 4, Supplement to the State Gazette of the Republic of Indonesia Number 6845);
Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (State Gazette of the Republic of Indonesia Year 2023 Number 4, Supplement to the State Gazette of the Republic of Indonesia Number 6845);
DECIDING:
Establish: FINANCIAL SERVICES AUTHORITY REGULATION ON CONSUMER AND COMMUNITY PROTECTION IN THE FINANCIAL SERVICES SECTOR.

CHAPTER I
GENERAL PROVISIONS
Article 1
In this Financial Services Authority Regulation:

Financial Institution, hereinafter abbreviated as FI, is an institution that carries out activities in the banking, capital market, insurance, pension fund, venture capital, microfinance institution, financing institution, and other financial services institutions sectors.
Financial Services Business Actor, hereinafter abbreviated as FSBA, is:
a. FI and/or parties carrying out business activities in collecting funds, distributing funds, and/or managing funds in the financial services sector; and b. other financial services business actors, whether carrying out business activities conventionally or based on Sharia principles in accordance with applicable laws and regulations in the financial services sector.
Consumer is every person who owns and/or utilizes products and/or services provided by FSBA.
Consumer Protection is all efforts that ensure legal certainty to provide protection to Consumers.
Investment-Linked Insurance Products, hereinafter referred to as PAYDI, is an insurance product that provides at least death risk protection and provides benefits based on the investment results of a fund pool specifically formed for insurance products, whether expressed in unit form or not.
Integrated Consumer and Community Service System in the Financial Services Sector is the mechanism and equipment managed by the Financial Services Authority to implement Consumer and/or community services in the financial services sector.
Complaints Indicating Disputes are expressions of Consumer dissatisfaction caused by actual and direct material losses and/or potential material losses to Consumers because FSBA failed to fulfill agreements and/or utilization documents for products and/or services that have been agreed upon.
Complaints Indicating Violations are submissions of information by Consumers and/or the community regarding indications of violations of laws and regulations in the financial services sector committed by FSBA.
Complaints are Complaints Indicating Disputes and Complaints Indicating Violations.
Complaint Handling Services are services provided by FSBA to strive for the resolution of Complaints in the financial services sector.
Complaint Responses are explanations of problems or offers for final resolution from FSBA to Consumers.
Disputes are disagreements between Consumers and FSBA that have gone through the Complaint resolution process by FSBA.
Alternative Financial Services Dispute Resolution Institution, hereinafter referred to as Alternative Financial Services Dispute Resolution Institution, is an institution that resolves Disputes between Consumers and FSBA outside of court.
Board of Directors for FSBA or an organ equivalent to the Board of Directors in a legal entity, hereinafter referred to as Board of Directors, is an organ that carries out the management functions of FSBA for the interests of FSBA in accordance with the respective purposes of each FSBA and represents FSBA inside and outside of court in accordance with the articles of association, or the branch office leader and officials one level below the branch office leader for FSBA with the status of a branch office of an FSBA located abroad.
Board of Commissioners for FSBA or an organ equivalent to the Board of Commissioners in a legal entity, hereinafter referred to as Board of Commissioners, is an organ in each FSBA that plays a role in carrying out general and/or specific supervision functions in accordance with the articles of association and providing advice to the Board of Directors, or parties appointed to carry out supervision functions for FSBA with the status of a branch office of an FSBA located abroad.
Employees are all workers who receive wages and/or salaries from FSBA.
Financial Literacy is knowledge, skills, and beliefs that influence attitudes and behaviors to improve the quality of decision-making and financial management to achieve community financial well-being.
Financial Inclusion is the availability of access to utilize affordable, quality, and sustainable products and/or services from FSBA in accordance with community needs and capabilities to improve community financial well-being.
Information is statements and/or descriptions, whether data, facts, or explanations, presented in various packaging and formats through electronic or non-electronic communication media.
FSBA Behavior Supervision (Market Conduct) is supervision of FSBA behavior in designing, providing, and delivering information, offering, drafting agreements, providing services for the use of products and/or services, as well as handling Complaints and resolving Disputes in efforts to realize Consumer Protection.
Thematic Examination is FSBA Behavior Supervision (Market Conduct) by carrying out a series of activities to collect and process data, statements, and/or evidence, and analyzing products and/or financial services that have the potential to cause Consumer losses based on established themes.
Special Examination is FSBA Behavior Supervision (Market Conduct) by carrying out a series of activities to collect and process data, statements, and/or evidence to prove allegations of FSBA behavior violating laws and regulations in the financial services sector and/or causing Consumer losses.
Written Orders are written orders by the Financial Services Authority to carry out or not carry out certain activities, in order to fulfill laws and regulations in the financial services sector and/or prevent and reduce losses to Consumers, the community, FSBA, and the financial services sector.
Other Financial Institutions are pawnshops, guarantee institutions, Indonesian export financing institutions, secondary housing financing companies, Technology-Based Collective Financing Service Providers, and institutions that manage mandatory community funds, including social security, pension, and welfare program providers, as referred to in laws and regulations regarding pawnshops, guarantees, Indonesian export financing institutions, secondary housing financing companies, and mandatory community fund management, as well as other financial services institutions stated to be supervised by the Financial Services Authority based on applicable laws and regulations.

Article 2
FSBA as referred to in Article 1 number 2 consists of:
a. FIs including:

Commercial Banks;
Rural Banks;
Securities Companies;
Pension Funds;
Insurance Companies;
Reinsurance Companies;
Financing Companies;
Infrastructure Financing Companies;
Venture Capital Companies;
Microfinance Institutions; and
Other Financial Institutions;
b. parties carrying out business activities in collecting funds, distributing funds, and managing funds in the financial services sector, which are granted permits and stated to be supervised by the Financial Services Authority based on laws and regulations; and
c. other financial services business actors including parties that implement financial sector technology innovations in the financial services sector, which are granted permits and stated to be supervised by the Financial Services Authority based on laws and regulations,
whether carrying out business activities conventionally or Sharia-style.

CHAPTER II
CONSUMER AND COMMUNITY PROTECTION PROVISIONS
IN THE FINANCIAL SERVICES SECTOR
First Section
Consumer Protection Principles
Article 3
(1) FSBA in carrying out business activities must apply Consumer Protection principles.
(2) Consumer protection in the financial services sector applies the principles:
a. adequate education; b. openness and transparency of product and/or service information;
c. fair treatment and responsible business behavior;
d. protection of Consumer assets, privacy, and data; e. effective and efficient handling of Complaints and resolution of Disputes; f. enforcement of compliance; and g. healthy competition. (3) FSBA that violates the provisions as referred to in paragraph (1) is subject to administrative sanctions in the form of:
a. written warnings; b. restrictions on products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fines; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without prior imposition of written warning sanctions as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Second Section
Basic Behavior of FSBA
Paragraph 1
General
Article 4
(1) FSBA must act in good faith in carrying out business activities and/or providing products and/or services to prospective Consumers and/or Consumers. (2) FSBA must treat or serve Consumers non-discriminatorily, unless otherwise determined by laws and regulations and/or agreements. (3) FSBA must ensure that third parties working for and/or representing the interests of FSBA treat or serve Consumers non-discriminatorily as referred to in paragraph (2). (4) FSBA is prohibited from taking actions that violate laws and regulations or norms applicable in society that can cause physical and/or psychological disturbances to prospective Consumers and/or Consumers in carrying out business activities. (5) FSBA that violates the provisions as referred to in paragraph (1) and paragraph (3) is subject to administrative sanctions in the form of:
a. written warnings; b. restrictions on products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fines; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without prior imposition of written warning sanctions as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (8) In the event that FSBA fails to implement administrative sanctions as referred to in paragraph (5) for violations of provisions as referred to in paragraph (1) within the time period stated in the sanction determination, FSBA may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector. (9) FSBA that violates the provisions as referred to in paragraph (2) and/or paragraph (4) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 5
(1) FSBA is prohibited from approving requests for the use of products and/or services from parties carrying out business activities in the financial sector that do not have permits from the Financial Services Authority or competent authorities. (2) FSBA in carrying out business activities is prohibited from cooperating with parties carrying out business activities in the financial sector that do not have permits. (3) In the event that there are Consumers carrying out business activities in the financial sector that do not have permits, FSBA must report to the Financial Services Authority c.q. to:
a. Executive Head of FSBA Behavior Supervision, Education, and Consumer Protection c.q. work units in the Field of FSBA Behavior Supervision, Education, and Consumer Protection; or b. Head of the Financial Services Authority Office in the region. (4) In the event that FSBA has cooperated with parties carrying out business activities in the financial sector that do not have permits as referred to in paragraph (2), FSBA must terminate cooperation with the said parties. (5) Prohibitions as referred to in paragraph (1) and/or paragraph (2) are excluded if the parties submitting requests for the use of products and/or services and/or cooperating with FSBA are in the process of obtaining permits from authorities in the financial sector. (6) The Financial Services Authority imposes administrative sanctions on FSBA that violates the provisions as referred to in paragraph (1) through paragraph (4) in the form of:
a. written warnings; b. restrictions on products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fines; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(7) Sanctions as referred to in paragraph (6) letters b through g are imposed with or without prior imposition of written warning sanctions as referred to in paragraph (6) letter a. (8) Fine sanctions as referred to in paragraph (6) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 6
FSBA is entitled to legal protection from actions by Consumers acting in bad faith.

Article 7
(1) FSBA is entitled to ensure the good faith of prospective Consumers and/or Consumers.
(2) FSBA is entitled to receive clear, accurate, correct, and non-misleading information and/or documents regarding prospective Consumers and/or Consumers. (3) To ensure FSBA's rights as referred to in paragraph (1), FSBA takes actions:
a. reviewing the correspondence of documents containing information of prospective Consumers and/or Consumers with actual facts; b. requesting prospective Consumers and/or Consumers to declare the truth and accuracy of all information and/or documents provided to FSBA; and/or
c. taking other actions consisting of:

requesting Consumers to fulfill agreements between Consumers and FSBA; and/or
requesting Consumers to comply with laws and regulations in the financial services sector.
(4) To ensure FSBA's rights as referred to in paragraph (2), FSBA takes actions:
a. reviewing the correspondence of documents containing information of prospective Consumers and/or Consumers with actual facts; b. requesting prospective Consumers and/or Consumers to declare the truth and accuracy of all information and/or documents provided to FSBA; and/or
c. taking other necessary actions in accordance with laws and regulations in the financial services sector.

Article 8
(1) FSBA must have and apply written Consumer Protection policies and procedures.
(2) Written Consumer Protection policies and procedures as referred to in paragraph (1) are present in activities:
a. product and/or service design; b. provision of product and/or service information;
c. delivery of product and/or service information;
d. marketing of products and/or services; e. drafting agreements related to products and/or services; f. providing services for the use of products and/or services; and g. handling Complaints and resolving Disputes regarding products and/or services. (3) Written policies and procedures as referred to in paragraph (2) contain:
a. equal access for every Consumer; b. special services related to Consumers with disabilities and the elderly;
c. protection of Consumer assets;
d. protection of Consumer data and/or information; e. information on the handling and resolution of Complaints submitted by Consumers; and f. mechanisms for the use and deletion of Consumer data and/or information. (4) FSBA that violates the provisions as referred to in paragraph (1) is subject to administrative sanctions in the form of:
a. written warnings; b. restrictions on products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fines; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without prior imposition of written warning sanctions as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 9
(1) FSBA must prevent the Board of Directors, Board of Commissioners, Employees, and/or third parties working for or representing the interests of FSBA from behaviors:
a. enriching or benefiting themselves or other parties; and/or b. abusing authority, opportunity, or facilities available to them due to their position or status, which result in losses to Consumers. (2) FSBA must have and apply Consumer and community protection codes of ethics established by each FSBA. (3) FSBA that violates the provisions as referred to in paragraph (1) and/or paragraph (2) is subject to administrative sanctions in the form of:
a. written warnings; b. restrictions on products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fines; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without prior imposition of written warning sanctions as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 10
(1) FSBA is responsible for Consumer losses caused by errors, negligence, and actions contrary to laws and regulations in the financial services sector and/or agreements, whether committed by the Board of Directors, Board of Commissioners, Employees, and/or by third parties representing or working for the interests of FSBA. (2) In the event that FSBA can prove that there is involvement, errors, negligence, and/or actions contrary to laws and regulations in the financial services sector committed by Consumers, FSBA is not responsible for Consumer losses arising as referred to in paragraph (1). (3) The form of responsibility for Consumer losses as referred to in paragraph (1) can be agreed upon by Consumers and FSBA. (4) Follow-up by the Financial Services Authority in the proof process as referred to in paragraph (2) is carried out in accordance with Financial Services Authority Regulations regarding the implementation of consumer and community services in the financial services sector by the Financial Services Authority. (5) FSBA that violates the provisions as referred to in paragraph (1) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Paragraph 2
Financial Literacy and Financial Inclusion
Article 11
(1) FSBA must carry out activities to increase Financial Literacy for Consumers and/or the community as an annual program.
(2) Implementation of activities as referred to in paragraph (1) must be carried out at least 1 (one) time in 1 (one) semester.
(3) FSBA must document the implementation of activities as referred to in paragraph (1).
(4) Provisions regarding the implementation of activities for increasing Financial Literacy are carried out in accordance with Financial Services Authority Regulations regarding...

enhancement of financial literacy and financial inclusion in the financial services sector for Consumers.
(5) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraphs (1) through (3) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 12
(1) Financial Service Business Entities (PUJK) are required to carry out activities to enhance Financial Inclusion for Consumers and/or the community as an annual program. (2) The implementation of activities as referred to in paragraph (1) must be conducted at least 1 (one) time in 1 (one) semester. (3) Financial Service Business Entities (PUJK) are required to document the implementation of activities as referred to in paragraph (1). (4) Provisions regarding the implementation of activities to enhance Financial Inclusion are carried out in accordance with Financial Services Authority Regulations regarding the enhancement of financial literacy and financial inclusion in the financial services sector for Consumers and/or the community. (5) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraphs (1) through (3) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 13
(1) Financial Service Business Entities (PUJK) are required to prepare and submit:
a. Financial Literacy Reports; and b. Financial Inclusion Reports, to the Financial Services Authority.
(2) Reports as referred to in paragraph (1) are submitted to the Financial Services Authority c.q. Executive Head of Supervision of Financial Service Business Entities, Education, and Consumer Protection. (3) Financial Literacy Reports as referred to in paragraph (1) letter a consist of plan reports and realization reports for activities to enhance Financial Literacy. (4) Financial Inclusion Reports as referred to in paragraph (1) letter b consist of plan reports and realization reports for activities to enhance Financial Inclusion. (5) In the event that a Financial Service Business Entity (PUJK) is a financial conglomerate, each Financial Service Business Entity (PUJK) is required to submit plan reports and realization reports as referred to in paragraph (1) to the Financial Services Authority. (6) Further provisions regarding the preparation and submission of plan reports and realization reports for Financial Literacy and Financial Inclusion are established by the Financial Services Authority. (7) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraph (1) and/or paragraph (5) shall be subject to administrative sanctions in the form of administrative fines:
a. amounting to IDR 50,000,000.00 (fifty million rupiah) for each report for Financial Service Business Entities (PUJK) in the form of Commercial Banks, Securities Companies, Pension Fund Institutions, Insurance Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives operating in the financial services sector, Indonesia Export Financing Agency, Secondary Housing Financing Companies, Information Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 25,000,000.00 (twenty-five million rupiah) for each report for Financial Service Business Entities (PUJK) in the form of People's Economy Banks, Financing Companies, Venture Capital Companies, Guarantee Companies, and Digital Financial Asset Trading Companies. (8) Other financial service business entities, Private Pawnshops, parties conducting business activities involving fund collection, fund distribution, and fund management in the financial services sector, and those stated to be supervised by the Financial Services Authority based on legislation outside of Financial Service Business Entities (PUJK) as referred to in paragraph (7), who violate the provisions as referred to in paragraph (1) and/or paragraph (5), shall be subject to administrative sanctions in the form of written warnings.

Article 14
(1) Financial Service Business Entities (PUJK) are required to submit plan reports as referred to in Article 13 paragraphs (3) and (4) at the latest by November 30 before the year the activities are carried out. (2) If November 30 falls on a Saturday, Sunday, or holiday, the plan reports as referred to in paragraph (1) are submitted on 1 (one) working day following. (3) If a Financial Service Business Entity (PUJK) submits plan reports after the final submission deadline up to a maximum of 30 (thirty) days, the Financial Service Business Entity (PUJK) is declared late in submitting plan reports as referred to in Article 13 paragraphs (3) and (4). (4) If by the end of the late submission deadline as referred to in paragraph (3) the Financial Service Business Entity (PUJK) has not submitted plan reports, the Financial Service Business Entity (PUJK) is declared not to have submitted plan reports as referred to in Article 13 paragraphs (3) and (4). (5) Financial Service Business Entities (PUJK) declared not to have submitted plan reports as referred to in Article 13 paragraphs (3) and (4) remain required to submit plan reports to the Financial Services Authority. (6) Financial Service Business Entities (PUJK) late in submitting plan reports as referred to in paragraphs (3) and (4) are subject to administrative sanctions in the form of administrative fines:
a. amounting to IDR 100,000.00 (one hundred thousand rupiah) per day of delay for each report for Financial Service Business Entities (PUJK) in the form of Commercial Banks, Securities Companies, Pension Fund Institutions, Insurance Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives operating in the financial services sector, Indonesia Export Financing Agency, Secondary Housing Financing Companies, Information Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 50,000.00 (fifty thousand rupiah) per day of delay for each report for Financial Service Business Entities (PUJK) in the form of People's Economy Banks, Financing Companies, Venture Capital Companies, Guarantee Companies, and Digital Financial Asset Trading Companies. (7) Other financial service business entities, Private Pawnshops, parties conducting business activities involving fund collection, fund distribution, and fund management in the financial services sector, and those stated to be supervised by the Financial Services Authority based on legislation outside of Financial Service Business Entities (PUJK) as referred to in paragraph (6), who are late in submitting plan reports as referred to in paragraphs (3) and (4), are subject to administrative sanctions in the form of written warnings. (8) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraph (5) are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (8) letter a. (10) Fine sanctions as referred to in paragraph (8) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 15
(1) Financial Service Business Entities (PUJK) are required to submit realization reports as referred to in Article 13 paragraphs (3) and (4) on a semi-annual basis. (2) Submission of realization reports as referred to in paragraph (1) is conducted at the latest by July 31 of the current year and January 31 of the following year. (3) If the final submission deadline for realization reports as referred to in paragraph (2) falls on a Saturday, Sunday, or holiday, the realization reports as referred to in paragraph (2) are submitted on 1 (one) working day following. (4) If a Financial Service Business Entity (PUJK) submits realization reports after the final submission deadline up to a maximum of 30 (thirty) days, the Financial Service Business Entity (PUJK) is declared late in submitting realization reports as referred to in Article 13 paragraphs (3) and (4). (5) If by the end of the late submission deadline as referred to in paragraph (4) the Financial Service Business Entity (PUJK) has not submitted realization reports, the Financial Service Business Entity (PUJK) is declared not to have submitted realization reports as referred to in Article 13 paragraphs (3) and (4). (6) Financial Service Business Entities (PUJK) declared not to have submitted realization reports as referred to in Article 13 paragraphs (3) and (4) remain required to submit realization reports to the Financial Services Authority. (7) Financial Service Business Entities (PUJK) late in submitting realization reports as referred to in paragraph (1) are subject to administrative sanctions in the form of administrative fines:
a. amounting to IDR 100,000.00 (one hundred thousand rupiah) per day of delay for each report for Financial Service Business Entities (PUJK) in the form of Commercial Banks, Securities Companies, Pension Fund Institutions, Insurance Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives operating in the financial services sector, Indonesia Export Financing Agency, Secondary Housing Financing Companies, Information Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 50,000.00 (fifty thousand rupiah) per day of delay for each report for Financial Service Business Entities (PUJK) in the form of People's Economy Banks, Financing Companies, Venture Capital Companies, Guarantee Companies, and Digital Financial Asset Trading Companies. (8) Other financial service business entities, Private Pawnshops, parties conducting business activities involving fund collection, fund distribution, and fund management in the financial services sector, and those stated to be supervised by the Financial Services Authority based on legislation outside of Financial Service Business Entities (PUJK) as referred to in paragraph (7), who are late in submitting realization reports as referred to in paragraph (4), are subject to administrative sanctions in the form of written warnings. (9) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraph (6) are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(10) Sanctions as referred to in paragraph (9) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (9) letter a. (11) Fine sanctions as referred to in paragraph (9) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 16
(1) Financial Service Business Entities (PUJK) may make adjustments or changes to Financial Literacy and Financial Inclusion plan reports.
(2) Plan reports as referred to in paragraph (1) may be made:
a. adjustments based on requests from the Financial Services Authority; and/or b. changes based on the initiative of the Financial Service Business Entity (PUJK). (3) Financial Service Business Entities (PUJK) are required to submit adjustments to plan reports as referred to in paragraph (2) letter a at the latest 30 (thirty) days after the date of the Financial Services Authority's request letter. (4) Financial Service Business Entities (PUJK) submit changes to plan reports as referred to in paragraph (2) letter a at the latest 30 (thirty) days before the implementation of activities. (5) If the final submission deadline for adjustments to plan reports as referred to in paragraph (3) and changes to plan reports as referred to in paragraph (4) falls on a Saturday, Sunday, or holiday, adjustments or changes to plan reports are submitted on 1 (one) working day following. (6) Financial Service Business Entities (PUJK) may make changes to plan reports as referred to in paragraph (2) letter a at most 1 (one) time for 1 (one) semester. (7) If a Financial Service Business Entity (PUJK) submits adjustment reports after the final submission deadline up to a maximum of 15 (fifteen) days, the Financial Service Business Entity (PUJK) is declared late in submitting adjustment reports as referred to in paragraph (3). (8) If by the end of the late submission deadline as referred to in paragraph (7) the Financial Service Business Entity (PUJK) has not submitted adjustment reports, the Financial Service Business Entity (PUJK) is declared not to have submitted adjustment reports as referred to in paragraph (3). (9) Financial Service Business Entities (PUJK) declared not to have submitted adjustment reports as referred to in paragraph (3) remain required to submit realization reports to the Financial Services Authority. (10) Financial Service Business Entities (PUJK) late in submitting adjustment reports as referred to in paragraph (7) are subject to administrative sanctions in the form of administrative fines with the following details:
a. amounting to IDR 100,000.00 (one hundred thousand rupiah) per day of delay for each report for Financial Service Business Entities (PUJK) in the form of Commercial Banks, Securities Companies, Pension Fund Institutions, Insurance Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives operating in the financial services sector, Indonesia Export Financing Agency, Secondary Housing Financing Companies, Information Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 50,000.00 (fifty thousand rupiah) per day of delay for each report for Financial Service Business Entities (PUJK) in the form of People's Economy Banks, Financing Companies, Venture Capital Companies, Guarantee Companies, and Digital Financial Asset Trading Companies. (11) Other financial service business entities, Private Pawnshops, parties conducting business activities involving fund collection, fund distribution, and fund management in the financial services sector, and those stated to be supervised by the Financial Services Authority based on legislation outside of Financial Service Business Entities (PUJK) as referred to in paragraph (10), who are late in submitting realization reports as referred to in paragraph (7), are subject to administrative sanctions in the form of written warnings. (12) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraph (9) are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(13) Sanctions as referred to in paragraph (12) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (12) letter a. (14) Fine sanctions as referred to in paragraph (12) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 17
(1) Submission of plan reports, realization reports, adjustment reports, and change reports is conducted through an electronic reporting system provided by the Financial Services Authority. (2) In the event that the Financial Services Authority states that the electronic reporting system as referred to in paragraph (1) is inaccessible due to a disturbance, reports are submitted to the Financial Services Authority offline and/or online. (3) Submission of reports offline and/or online as referred to in paragraph (2) is accompanied by a printed cover letter signed by one of the Board of Directors members. (4) Financial Service Business Entities (PUJK) that have submitted reports as referred to in paragraph (2) are required to resubmit reports through the electronic reporting system provided by the Financial Services Authority at the latest 5 (five) working days after the Financial Services Authority states that the system disturbance has been resolved. (5) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraph (4) are subject to administrative sanctions in the form of written warnings.

Article 18
The obligation to carry out activities to enhance Financial Literacy and Financial Inclusion is exempted for Reinsurance Companies, Reinsurance Guarantee Companies, Infrastructure Financing Companies, Employer Pension Funds, and Microfinance Institutions.

Paragraph 3
Consumer Data and Information Protection

Article 19
(1) Financial Service Business Entities (PUJK) are required to maintain the confidentiality and security of Consumer data and/or information.
(2) Consumer data and/or information as referred to in paragraph (1) includes:
a. individuals:

full name;
National Identity Number (NIK);
address;
date of birth and/or age;
telephone number;
mother's maiden name;
other data submitted or granted access by Consumers to Financial Service Business Entities (PUJK); and/or
other data in accordance with applicable legislation;
b. corporations:
name;
address;
telephone number;
identity documents such as National ID cards/passports/residence permits of the Board of Directors, Board of Commissioners, and shareholders; and/or
other data submitted or granted access by Consumers to Financial Service Business Entities (PUJK).
(3) The obligation of Financial Service Business Entities (PUJK) as referred to in paragraph (1) is implemented by applying the basic principles of personal data processing protection as regulated in applicable legislation regarding personal data protection. (4) In the event that Financial Service Business Entities (PUJK) cooperate with other parties to manage Consumer data and/or information, Financial Service Business Entities (PUJK) are required to ensure that such other parties maintain the confidentiality and security of Consumer data and/or information as referred to in paragraph (1). (5) Financial Service Business Entities (PUJK) are required to provide Consumers with access to obtain copies of Consumer data and/or information as referred to in paragraph (1) in accordance with applicable legislation. (6) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraphs (1), (4), and/or (5) are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(7) Sanctions as referred to in paragraph (6) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (6) letter a. (8) Fine sanctions as referred to in paragraph (6) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (9) Financial Service Business Entities (PUJK) violating provisions regarding the confidentiality of Consumer personal data and/or information as referred to in paragraph (1) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 20
(1) In the use of Consumer data and/or information, Financial Service Business Entities (PUJK) may exchange Consumer data and/or information with other parties while paying attention to applicable legislation regarding personal data protection and regulations established by the Financial Services Authority. (2) The exchange of Consumer data and/or information in the financial sector may be conducted directly by Financial Service Business Entities (PUJK) and/or through integrated data management infrastructure facilitated by the Financial Services Authority. (3) The exchange of Consumer data and/or information in the financial sector may be conducted in the event that:
a. Consumers provide written consent; and/or b. there is an obligation for Financial Service Business Entities (PUJK) to provide Consumer data and/or information in the financial sector based on applicable legislation.

Article 21
(1) Financial Service Business Entities (PUJK) may transfer Consumer data and/or information regarding individuals as referred to in Article 19 paragraph (2) letter a to other parties outside the legal territory of the Unitary State of the Republic of Indonesia by fulfilling applicable legislation regarding personal data protection and other regulations established by the Financial Services Authority. (2) In the event that Financial Service Business Entities (PUJK) transfer Consumer data and/or information regarding corporations as referred to in Article 19 paragraph (2) letter b, Financial Service Business Entities (PUJK) are required to ensure that the country where the recipient of the data and/or information transfer is located has a level of personal data protection that is equivalent to or higher than that regulated in other applicable legislation established by the Financial Services Authority. (3) In the event that the provisions as referred to in paragraph (2) are not met, Financial Service Business Entities (PUJK) are required to ensure the existence of adequate and binding personal data protection in the form of:
a. agreements between countries where the Financial Service Business Entity (PUJK) transferring data is located and the country where the recipient of the data transfer is located; b. binding corporate rules for a group of companies; and/or
c. other adequate and binding data protection instruments established by the Financial Services Authority.
(4) In the event that the provisions as referred to in paragraphs (2) and (3) are not met, Financial Service Business Entities (PUJK) are required to obtain Consumer consent. (5) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraphs (2) through (4) regarding data and/or information of corporations are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service permits; and/or g. revocation of business permits.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (8) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraphs (2) and (3) may be subject to sanctions in accordance with applicable legislation regarding personal data protection.

Article 22
(1) Financial Service Business Entities (PUJK) are prohibited from:
a. providing data and/or information regarding Consumers to other parties; b. using data and/or information of Consumers who have terminated product and/or service agreements;
c. using data and/or information of prospective Consumers whose requests for product and/or service usage are rejected by Financial Service Business Entities (PUJK); and/or
d. using data and/or information of prospective Consumers who withdraw their requests for product and/or service usage.
(2) Financial Service Business Entities (PUJK) are prohibited from requiring prospective Consumers to agree to share data and/or information as a condition for using products and/or services. (3) Financial Service Business Entities (PUJK) violating the provisions as referred to in paragraphs (1) and/or (2) are subject to administrative sanctions in the form of:

a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).
Article 23
(1) Provisions as referred to in Article 22 paragraph (1) are exempted for Financial Service Providers (PUJK) that have a processing basis as regulated in legislation regarding personal data protection. (2) PUJK must explain in writing and/or orally regarding the purpose and consequences of Consumer consent related to the provision of Consumer data and/or information. (3) In the event that PUJK obtains data and/or information of an individual and/or a group of people from other parties and PUJK will use such data and/or information to carry out its activities, PUJK must:
a. have a written statement that the other party referred to has obtained consent from the individual and/or group of people to provide the data and/or information in question to specific parties, including PUJK; and b. inform the Consumer regarding the source of the data and/or information obtained by PUJK. (4) Withdrawal of consent and/or change of part of the consent for the provision of Consumer data and/or information is done in writing or electronically by the Consumer. (5) PUJK and/or parties that do not fulfill the provisions as referred to in paragraph (2) and/or paragraph (3) are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).
Article 24
(1) In carrying out business activities, PUJK must ensure information system security and cyber resilience for Consumer Protection.
(2) In ensuring information system security as referred to in paragraph (1), PUJK must conduct:
a. information security aimed at ensuring that managed information and data maintain confidentiality, integrity, and availability effectively and efficiently by paying attention to compliance with legislation provisions; and b. information security conducted on the aspects of technology, human resources, and processes in the use of information technology. (3) To ensure cyber resilience as referred to in paragraph (1), PUJK conducts processes at least:
a. identification of assets, threats, and vulnerabilities; b. asset protection;
c. detection of cyber incidents; and
d. handling and recovery of cyber incidents.
(4) PUJK ensures that the cyber resilience process as referred to in paragraph (3) is supported by adequate cyber resilience information systems.
(5) In the event that there are provisions regarding information system security and cyber resilience, PUJK must refer to legislation provisions and provisions in each respective sector. (6) PUJK that violates provisions as referred to in paragraph (1) and/or paragraph (2) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(7) Sanctions as referred to in paragraph (6) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (6) letter a. (8) Fine sanctions as referred to in paragraph (6) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). Third Section Product and Service Design
Article 25
(1) PUJK must design products and/or services that are suitable for the target Consumer.
(2) Product and/or service design as referred to in paragraph (1) considers:
a. needs and capabilities of the target Consumer; and b. suitability of features, risks, and costs with the target Consumer.
(3) PUJK must document the implementation of product and/or service design as referred to in paragraph (1).
(4) PUJK that violates provisions as referred to in paragraph (1) and/or paragraph (3) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (7) In the event that PUJK does not fulfill the implementation of administrative sanctions as referred to in paragraph (4) for violations of provisions as referred to in paragraph (1) within the time period stated in the sanction determination, PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.
Article 26
(1) PUJK must conduct testing of new products and/or services.
(2) Product and/or service testing as referred to in paragraph (1) is conducted to assess risks that have the potential to harm prospective Consumers and/or Consumers. (3) In the event that the results of testing as referred to in paragraph (2) have the potential to harm prospective Consumers and/or Consumers, PUJK must conduct a review of the product and/or service in question. (4) PUJK must document the results of testing as referred to in paragraph (1). (5) PUJK that violates provisions as referred to in paragraph (1), paragraph (3) and/or paragraph (4) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).
Article 27
Obligations as referred to in Article 26 are exempted for:
a. products and/or services for the implementation of government or authority programs; and/or b. products and/or services at Microfinance Institutions.
Article 28
(1) PUJK must have guidelines for setting values/prices and/or costs of products and/or services.
(2) PUJK has the right to receive payment in accordance with the value/price and/or cost of products and/or services agreed upon with the Consumer. (3) PUJK that violates provisions as referred to in paragraph (1) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). Fourth Section Provision of Product and Service Information
Article 29
(1) PUJK must provide information regarding products and/or services that is clear, accurate, honest, easily accessible, and not potentially misleading to prospective Consumers and/or Consumers. (2) PUJK must use simple terms, phrases, and/or sentences in Indonesian that are easily understood by prospective Consumers and/or Consumers in every document regarding product and/or service information. (3) PUJK must use letters, writing, symbols, diagrams, and signs that can be read clearly in documents as referred to in paragraph (2). (4) PUJK must provide explanations for terms, phrases, sentences and/or symbols, diagrams and signs that are not yet understood by prospective Consumers and/or Consumers in documents as referred to in paragraph (2). (5) PUJK is prohibited from providing information and/or documents that do not use Indonesian in accordance with legislation provisions. (6) Information as referred to in paragraph (5) may be supplemented with regional languages or foreign languages. (7) Further provisions regarding the provision of information are determined by the Financial Services Authority (OJK). (8) PUJK that violates provisions as referred to in paragraph (1) through paragraph (5) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (8) letter a. (10) Fine sanctions as referred to in paragraph (8) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (11) In the event that PUJK does not fulfill administrative sanctions as referred to in paragraph (8) for violations of provisions as referred to in paragraph (1), paragraph (2) and/or paragraph (5) within the time period stated in the sanction determination, PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.
Article 30
(1) PUJK must provide a summary of product and/or service information that is made by including:
a. information related to:

name and type of product and/or service;
issuer name;
main features;
benefits;
risks;
requirements and procedures;
costs; and
additional information; and
b. simulation/illustration and/or historical data/performance realization for products and/or services that have fund gathering, fund disbursement, and/or fund management activities. (2) The summary of product and/or service information as referred to in paragraph (1) consists of 2 (two) versions:
a. general version; and b. personal version.
(3) In the event that PUJK provides PAYDI (Insurance Products for Low-Income Consumers), PUJK must provide a summary of product and/or service information that includes:
a. name and logo of PUJK; b. a statement that PUJK is licensed and supervised by the Financial Services Authority;
c. name of the marketed PAYDI;
d. a statement that the marketed PAYDI is an insurance product; e. duration of coverage or membership; f. PAYDI benefits; g. risks covered; h. procedures or methods;
i. type, amount, and timing of cost charges during the duration of coverage or membership;
j. explanation that the cash value is the right of the policyholder, insured, or participant; k. explanation regarding sub-funds;
l. type of contract used, specifically for PAYDI based on Sharia principles;
m. additional features on the marketed PAYDI and requirements or criteria to obtain such additional features; n. description of sub-fund investment performance realization; o. provisions regarding the grace period for premium or contribution payments and the right of the policyholder, insured, or participant to cancel the insurance policy during the period of studying the policy (free look period); p. phone number and email address of the consumer service center (call center) owned by PUJK; q. information regarding additional insurance products (riders) that can be selected by the policyholder, insured, or participant; and r. additional information other than the information above that is relevant to the purpose of the product information summary. (4) The summary of product and/or service information for PAYDI as referred to in paragraph (3) consists of 2 (two) versions:
a. general version on the PUJK website; and b. personal version to prospective policyholders, insured, or participants.
(5) PUJK that violates provisions as referred to in paragraph (1) and/or paragraph (3) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).
Article 31
The obligation to provide product and/or service information summaries as referred to in Article 30 paragraph (1) is exempted from products and/or services:
a. government or authority programs; and/or b. used repeatedly by Consumers.
Fifth Section
Delivery of Product and Service Information
Article 32
(1) PUJK must provide information regarding products and/or services that is clear, accurate, honest, easily accessible, and not potentially misleading in accordance with legislation provisions and/or agreements. (2) Information as referred to in Article 29 paragraph (1) must be delivered at the time:
a. conducting marketing activities; and b. before signing the agreement.
(3) PUJK must document the information as referred to in paragraph (2).
(4) PUJK that violates provisions as referred to in paragraph (3) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (7) PUJK that violates provisions as referred to in paragraph (1) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.
Article 33
(1) PUJK must deliver the general version of the product and/or service information summary as referred to in Article 30 paragraph (2) letter a to prospective Consumers before the prospective Consumer decides to use the products and/or services available at PUJK. (2) PUJK must deliver the personal version of the product and/or service information summary as referred to in Article 30 paragraph (2) letter b to prospective Consumers before signing the agreement. (3) In the event that products and/or services are of a collective nature, not based on personal choice and initiative, and are facilities for Employees or workers, PUJK delivers the summary of product and/or service information to prospective Consumers or employers. (4) Delivery of the summary of product and/or service information as referred to in paragraph (1), paragraph (2), and paragraph (3) is conducted by methods:
a. face-to-face; and/or b. non-face-to-face.
(5) Technical delivery of the summary of product and/or service information as referred to in paragraph (4) letter b is conducted through:
a. print media; b. electronic media; and/or
c. personal communication channels of prospective Consumers.
(6) In the event that PUJK sells products and/or services resulting from cooperation activities with other PUJKs using a reference business model for PUJK products, each PUJK owning the products and/or services resulting from cooperation activities is responsible for the delivery and explanation of each summary of product and/or service information to prospective Consumers. (7) PUJK must confirm the understanding of prospective Consumers regarding the personal version of the product and/or service information summary as referred to in paragraph (2). (8) The understanding confirmation as referred to in paragraph (7) must be recorded in documents or other media that can be used as evidence. (9) Further provisions regarding the delivery of information for marketing and product and/or service information summaries are determined by the Financial Services Authority. (10) PUJK that violates provisions as referred to in paragraph (1), paragraph (2), paragraph (6), paragraph (7), and/or paragraph (8) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(11) Sanctions as referred to in paragraph (10) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (10) letter a. (12) Fine sanctions as referred to in paragraph (10) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).
Article 34
(1) PUJK must provide information to prospective Consumers regarding the acceptance, postponement, or rejection of product and/or service applications. (2) In the event that PUJK provides information about the postponement or rejection of product and/or service applications as referred to in paragraph (1), PUJK must provide the reasons for the postponement or rejection unless otherwise regulated by legislation provisions. (3) PUJK that violates provisions as referred to in paragraph (1) and/or paragraph (2) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). Sixth Section Marketing of Products and Services Paragraph 1 General
Article 35
(1) PUJK must include and/or mention in every offer, summary of product and/or service information, promotion, or advertisement of products and/or services:
a. name and/or logo of PUJK; and b. a statement that PUJK is licensed and supervised by the Financial Services Authority.
(2) In the event that marketing of products and/or services can only be conducted by individuals registered with the Financial Services Authority, the individuals referred to must inform the statement of being licensed and supervised by the Financial Services Authority in offers and promotions of products and/or services as referred to in paragraph (1). (3) The logo of the Financial Services Authority is prohibited from being included in the statements as referred to in paragraph (1) letter b and paragraph (2). (4) PUJK that violates provisions as referred to in paragraph (1) through paragraph (3) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).
Article 36
(1) PUJK is prohibited from offering products and/or services that harm or have the potential to harm prospective

Consumers by abusing the situation or condition of prospective Consumers and/or the community who have no other choice in making decisions.

(2) PUJK are prohibited from selling or offering products and/or services that do not have permits in accordance with applicable legislation.

(3) Crypto Asset Trading Entities are prohibited from offering crypto asset products to the public through advertisements other than on the official media of the Crypto Asset Trading Entity.

(4) PUJK that violate the provisions as referred to in paragraph (1) and/or paragraph (3) shall be subject to administrative sanctions in the form of:

(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a.

(6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

(7) PUJK that violate the provisions as referred to in paragraph (2) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 37

(1) PUJK must consider the suitability between the needs and capabilities of prospective Consumers with the products and/or services offered.

(2) The suitability as referred to in paragraph (1) is determined based on the classification of prospective Consumers established by PUJK by considering:

a. the background of prospective Consumers; b. the occupation of prospective Consumers;
c. the finances of prospective Consumers;
d. the intent and purpose of using products and/or services from PUJK; and/or e. other information used to determine the classification of prospective Consumers.

(3) PUJK must document the assessment of suitability between the needs and capabilities of prospective Consumers with the products and/or services offered to prospective Consumers.

(4) PUJK that violate the provisions as referred to in paragraph (1) and/or paragraph (3) shall be subject to administrative sanctions in the form of:

(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a.

(6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

(7) In the event that PUJK does not fulfill the implementation of administrative sanctions as referred to in paragraph (4) for violations of the provisions as referred to in paragraph (1) within the time period stated in the sanction determination, PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 38

(1) In the event that PUJK sells products and/or services resulting from cooperation activities with other PUJK using a reference business model for PUJK products and/or services, PUJK must provide options for products and/or services resulting from reference business model cooperation activities from at least 2 (two) PUJK, unless otherwise regulated by applicable legislation in the financial services sector.

(2) PUJK are prohibited from forcing prospective Consumers to purchase products and/or services resulting from cooperation activities only with one PUJK as referred to in paragraph (1).

(3) PUJK owning products and/or services resulting from cooperation activities as referred to in paragraph (1) must be responsible for the products and/or services that have been chosen by Consumers.

(4) PUJK that violate the provisions as referred to in paragraph (1) through paragraph (3) shall be subject to administrative sanctions in the form of:

(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a.

(6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 39

(1) PUJK are prohibited from offering products and/or services to prospective Consumers and/or Consumers through personal communication media without the consent of prospective Consumers and/or Consumers.

(2) PUJK are prohibited from requiring consent for the offer of products and/or services through personal communication media as a condition for the use of products and/or services.

(3) In the event that prospective Consumers and/or Consumers withdraw consent for the offer of products and/or services through personal communication media, PUJK must stop offering products and/or services.

(4) PUJK that offer products and/or services through personal communication media after obtaining consent from prospective Consumers and/or Consumers must fulfill:

a. communication can only be conducted on Monday through Saturday outside national holidays from 08.00 – 18.00 local time, unless with the consent or request of prospective Consumers and/or Consumers; b. inform the name of PUJK and explain the intent and purpose before offering products and/or services from PUJK; and
c. inform the source of data and/or personal information of prospective Consumers and/or Consumers obtained by PUJK, in the event that PUJK obtains data and/or information of prospective Consumers and/or Consumers from third parties.

(5) PUJK must record audio and/or video when offering products and/or services through personal communication media of prospective Consumers and/or Consumers using audio and/or video.

(6) Recording for the offer of products and/or services as referred to in paragraph (5) must be conducted in accordance with applicable legislation.

(7) In the event that prospective Consumers and/or Consumers consent to the offer of products and/or services through personal communication media as referred to in paragraph (5), PUJK must document the recording of the offer of products and/or services.

(8) In the event that Consumers use products and/or services, PUJK must provide access to Consumers to the results of audio and/or video recordings as referred to in paragraph (5).

(9) PUJK that violate the provisions as referred to in paragraph (2) through paragraph (8) shall be subject to administrative sanctions in the form of:

(10) Sanctions as referred to in paragraph (9) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (9) letter a.

(11) Fine sanctions as referred to in paragraph (9) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

(12) PUJK that violate the provisions as referred to in paragraph (1) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 40

(1) PUJK must convey information regarding the existence of conflicts of interest when making offers to prospective Consumers and/or Consumers.

(2) PUJK that violate the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in the form of:

(3) Sanctions as referred to in paragraph (2) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (2) letter a.

(4) Fine sanctions as referred to in paragraph (2) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Paragraph 2
PAYDI

Article 41

(1) In PAYDI marketing, PUJK must convey information openness that at least contains:

a. rights and obligations of the parties; b. terms and conditions of PAYDI; and
c. services related to PAYDI.

(2) In every PAYDI marketing activity, PUJK must emphasize the explanation that PAYDI is an insurance product aimed at providing protection benefits against risks, and provide explanations regarding benefits linked to investment in a balanced manner.

(3) PUJK are prohibited from receiving premiums or contributions before the insurance application is received based on PUJK underwriting regulations.

(4) In PAYDI marketing, PUJK must ensure:

a. the suitability of PAYDI and sub-funds with the needs, capabilities, and risk profiles of prospective policyholders, insured persons, or participants; b. the understanding of prospective policyholders, insured persons, or participants regarding the PAYDI being marketed; and
c. the sufficiency of data, information, and documents required for the underwriting process.

(5) In the event that PUJK will offer additional insurance products (riders) for PAYDI where the insurance cost is charged to the cash value, PUJK must have analysis results and convey explanations to Consumers that the cash value of PAYDI is sufficient to be charged with costs related to basic insurance products and additional insurance products until the end of the insurance contract while maintaining the availability of cash value.

(6) PUJK that violate the provisions as referred to in paragraph (1) through paragraph (5) shall be subject to administrative sanctions in the form of:

(7) Sanctions as referred to in paragraph (6) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (6) letter a.

(8) Fine sanctions as referred to in paragraph (6) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 42

(1) In the event that PUJK conducts marketing against PAYDI using personal communication media, it must be followed by:

a. face-to-face; or b. without face-to-face.

(2) PAYDI marketing activities using personal communication media followed by meetings without face-to-face as referred to in paragraph (1) letter b must be conducted digitally via video conference.

(3) PAYDI marketing as referred to in paragraph (1) must contain information regarding the identity of PUJK, the insurance products offered, and the terms and conditions of the insurance policy.

(4) PUJK that violate the provisions as referred to in paragraph (1), paragraph (2) and/or paragraph (3), shall be subject to administrative sanctions in the form of:

(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a.

(6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 43

(1) PUJK that market PAYDI must have and apply policies and procedures for assessing the suitability of insurance products with the needs and risk profiles of prospective policyholders, insured persons, or participants who are the target of marketing.

(2) In the event that based on evaluation results there is a mismatch between the insurance product and the needs and risk profiles of prospective policyholders, insured persons, or participants who are the target of marketing, PUJK must develop policies and procedures for assessing the suitability of insurance products with the needs and risk profiles as referred to in paragraph (1).

(3) PUJK that violate the provisions as referred to in paragraph (1) and/or paragraph (2) shall be subject to administrative sanctions in the form of:

(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a.

(5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Part Seven
Drafting Agreements Related to Products and Services

Article 44

(1) PUJK must ensure balance, fairness, and reasonableness in making product and/or service agreements.

(2) Agreements as referred to in paragraph (1) are in the form of written agreements.

(3) PUJK are prohibited from abusing the situation of prospective Consumers and/or Consumers in drafting product and/or service agreements as referred to in paragraph (1).

(4) In product and/or service agreements as referred to in paragraph (2), PUJK must include:

a. costs of products and/or services to be paid by Consumers; and b. commissions/remuneration to marketing agents/intermediaries of products and/or services obtained from payments made by Consumers, in the event that PUJK provides commissions/remuneration to marketing agents/intermediaries of products and/or services.

(5) PUJK must include an agreement on the choice of Dispute Resolution through courts or out of court in product and/or service agreements between PUJK and Consumers.

(6) PUJK are prohibited from providing agreements that do not use the Indonesian language in accordance with applicable legislation.

(7) Agreements as referred to in paragraph (2) may be supplemented with regional languages or foreign languages.

(8) PUJK that violate the provisions as referred to in paragraph (3) through paragraph (6) shall be subject to administrative sanctions in the form of:

(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (8) letter a.

(10) In the event that PUJK does not fulfill the implementation of administrative sanctions as referred to in paragraph (8) for violations of the provisions as referred to in paragraph (6) within the time period stated in the sanction determination, PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 45

(1) PUJK must provide understanding to prospective Consumers regarding costs, benefits, risks, and the rights and obligations of prospective Consumers.

(2) PUJK provides sufficient time for prospective Consumers to understand agreement clauses.

(3) PUJK must confirm the understanding of prospective Consumers over agreement clauses before signing the agreement.

(4) Confirmation of understanding of agreement clauses as referred to in paragraph (3) must be recorded in documents or other media that can be used as evidence.

(5) PUJK that violate the provisions as referred to in paragraph (1), paragraph (3), and/or paragraph (4) shall be subject to administrative sanctions in the form of:

(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (5) letter a.

(7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

(8) In the event that PUJK does not fulfill the implementation of administrative sanctions as referred to in paragraph (5) for violations of the provisions as referred to in paragraph (1) within the time period stated in the sanction determination, PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 46

(1) Written agreements as referred to in Article 44 paragraph (2) may be in the form of standard agreements containing standard clauses, except those prohibited in applicable legislation.

(2) PUJK are prohibited from making and using standard agreements containing exculpatory/exemption clauses that contain:

a. statements transferring responsibility or obligations of PUJK to Consumers; b. statements granting power of attorney from Consumers to PUJK, either directly or indirectly, to take any unilateral actions regarding goods pledged by Consumers, except such unilateral actions are conducted based on applicable legislation;
c. regulations regarding the burden of proof by Consumers, if PUJK states that the loss of utility of products and/or services purchased by Consumers is not the responsibility of PUJK;
d. granting rights to PUJK to reduce the utility of products and/or services or reduce the assets of Consumers that are the object of product and/or service agreements; e. statements that Consumers grant power of attorney to PUJK for the imposition of mortgage rights, pledge rights, or guarantee rights over products and/or services purchased by Consumers in installments; f. statements that PUJK can add, change, and/or provide further rules unilaterally after the agreement is approved/agreed upon; g. statements that Consumers are subject to unilateral changes by PUJK against rules as regulated in letter f after the agreement is signed by Consumers; h. granting authority to PUJK to avoid or restrict the applicability of a clause;
i. statements that PUJK has the authority to interpret the meaning of the agreement unilaterally;
j. statements that PUJK limits responsibility for errors and/or negligence of Employees and/or third parties working for the interest of PUJK; k. limiting the rights of Consumers to sue PUJK when Disputes arise related to the agreement; and
l. limiting the evidence that can be provided by Consumers when Disputes arise related to the agreement.

(3) PUJK that violate the provisions as referred to in paragraph (2) shall be subject to administrative sanctions in the form of:

(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a.

(5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

(6) PUJK that violate the provisions as referred to in paragraph (2) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 47

(1) PUJK must provide access to Consumers to obtain and/or print copies of standard agreement documents as referred to in Article 46 paragraph (1).

(2) PUJK that violate the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in the form of:

(3) Sanctions as referred to in paragraph (2) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (2) letter a.

(4) Fine sanctions as referred to in paragraph (2) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 48

(1) In the event that PUJK drafts agreements for PAYDI, PUJK are prohibited from including guarantees, specific targets, and/or similar matters regarding investment results and/or cash value.

(2) Agreements for PAYDI as referred to in paragraph (1) must at least contain:

a. the method for canceling insurance policies during the free-look period, as well as the amount of funds returned and the time for returning funds to policyholders, insured persons, or participants in the event of canceling insurance policies during the free-look period; b. the name of sub-funds, investment strategies, and the proportion of investment allocation from sub-funds;
c. the formation of sub-funds, including procedures and timing;
d. the formation of cash value, including procedures, timing, and the net asset value or net asset value per unit used as a reference; e. the amount, method, timing, and duration of premium or contribution payments;

f. all costs charged during the insurance or membership period, including the type, amount, method of charging, timing of charging, and duration of charging for such costs; g. the method for calculating the benefit amount associated with investment, which is acceptable to the policyholder, insured, or participant, in the event of fund withdrawal or policy termination; h. the rights of the policyholder, insured, or participant;
i. additional features offered by PAYDI and the requirements or criteria to obtain such features, if any; and
j. costs charged to the policyholder, insured, or participant in the event that the policyholder does not cancel the insurance policy after the premium or contribution payment period has ended. (3) Financial Service Providers (PUJK) are prohibited from imposing a waiting period on PAYDI unless the insured or participant has:
a. chosen not to undergo a medical check-up in accordance with underwriting regulations; and b. understood the consequences of the waiting period.
(4) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) and paragraph (3) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 49
(1) In the event of changes to regulations affecting agreements regarding products and/or services from Financial Service Providers (PUJK), the PUJK is obligated to inform the Consumer. (2) The information as referred to in paragraph (1) must be notified to the Consumer no later than 30 (thirty) business days before the implementation of changes to the regulations regarding products and/or services from the PUJK. (3) In the event that there are existing regulations regarding the submission of information related to changes to products and/or services, the notification period for changes shall follow the regulations applicable to the respective products and/or services. (4) The obligation to notify within the timeframe as referred to in paragraph (2) is exempted if:
a. it is determined by the government or authority; b. the change in pricing reference has been established in the agreement and such reference is determined by the authority; or
c. it is agreed upon through a negotiation process and such changes are documented in an agreement addendum.
(5) In the event that the Consumer does not agree to the changes after notification as referred to in paragraph (2), the Consumer has the right to terminate the use of the products and/or services. (6) In the event that the Consumer has been given the time period as referred to in paragraph (2) and the Consumer does not submit confirmation, the PUJK considers the Consumer to have agreed to such changes. (7) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) and/or paragraph (2) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(8) Sanctions as referred to in paragraph (7) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (7) letter a. (9) Fine sanctions as referred to in paragraph (7) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 50
(1) In the event that a Financial Service Provider (PUJK) makes changes to regulations related to credit or financing products that result in the addition of obligations, reduction of benefits and/or rights for the Consumer, the PUJK is obligated to:
a. notify the changes to the Consumer; b. confirm the Consumer's approval or rejection; and
c. document the Consumer's confirmation in written form and/or other means that can be used as evidence.
(2) Changes as referred to in paragraph (1) must be notified and confirmed to the Consumer no later than 30 (thirty) business days before the implementation of changes to the regulations regarding credit or financing products from the PUJK. (3) The notification and confirmation timeframe obligation as referred to in paragraph (2) is exempted if:
a. it is determined by the government or authority; b. changes to the reference for determining obligations, reduction of benefits, and rights that have been established in the agreement and such reference is determined by the authority; or
c. it is agreed upon through a negotiation process and such changes are documented in an agreement addendum.
(4) In the event that the Consumer does not agree to the changes after notification or confirmation as referred to in paragraph (2), the Consumer has the right to terminate the use of the products and/or services. (5) Before the Consumer terminates the use of products and/or services as referred to in paragraph (4), the Consumer must first fulfill their obligations as stated in the agreement. (6) In the event that the Consumer has been given the time period as referred to in paragraph (2) and the Consumer does not submit confirmation, the PUJK considers the Consumer to have agreed to such changes. (7) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) and/or paragraph (2) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(8) Sanctions as referred to in paragraph (7) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (7) letter a. (9) Fine sanctions as referred to in paragraph (7) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 51
(1) Financial Service Providers (PUJK) are obligated to provide a cooling-off period for Consumers since the signing of agreements for products and/or services that:
a. have a long duration; and/or b. are complex in nature.
(2) The duration for providing the cooling-off period for a product and/or service as referred to in paragraph (1) shall be at least 2 (two) business days since the Consumer approved the agreement. (3) In the event that there are existing regulations regarding the provision of a cooling-off period for a product and/or service, the PUJK shall refer to the regulations applicable to each respective product and/or service. (4) In the event that the PUJK provides PAYDI, the PUJK is obligated to conduct confirmation regarding the suitability of the product and the Consumer's understanding of the purchased PAYDI after the issuance of the PAYDI policy within the cooling-off period as referred to in paragraph (2). (5) The PUJK is obligated to document the confirmation as referred to in paragraph (4). (6) Documentation as referred to in paragraph (5) must be stored and maintained in accordance with the PUJK's policies so that such documentation can be used as evidence in the event of a Dispute. (7) The obligation to provide a cooling-off period as referred to in paragraph (1) is exempted for products and/or services:
a. government programs or authority programs; b. used repeatedly by the Consumer;
c. of a collective nature, not based on individual choice and initiative, and are facilities obtained by the Consumer; or
d. for which sufficient time has been given to prospective Consumers as referred to in Article 45 paragraph (2) of at least 2 (two) business days.
(8) In the event that there are no existing regulations regarding contract cancellation during the cooling-off period for cancellations occurring in investment products, the PUJK is obligated to refund at least the amount provided by the Consumer, minus costs that have arisen from the utilization of the products and/or services, plus investment returns, or minus investment losses that have received the Consumer's approval. (9) In the event that there are no existing regulations regarding contract cancellation during the cooling-off period for cancellations occurring in credit or financing products, the PUJK accepts at least the amount provided to the Consumer, plus interest or potential profit and administrative fees. (10) In the event that the Consumer cancels the agreement during the cooling-off period as referred to in paragraph (8) and paragraph (9), the PUJK is prohibited from charging penalty costs and/or sanctions to the Consumer. (11) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1), paragraph (4), paragraph (5), paragraph (6), paragraph (8), and/or paragraph (10), shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(12) Sanctions as referred to in paragraph (11) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (11) letter a. (13) Fine sanctions as referred to in paragraph (11) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 52
(1) In the event that a Financial Service Provider (PUJK) executes the transfer of claim rights to another party based on a credit or financing agreement with the Consumer, the PUJK must fulfill the procedures for transferring claim rights to another party in accordance with applicable legislation. (2) The transfer of claim rights to another party as referred to in paragraph (1) must:
a. be included in the credit or financing agreement; and b. be notified to the Consumer or approved by the Consumer.
(3) The PUJK is obligated to ensure that the transfer of claim rights to another party as referred to in paragraph (1) and paragraph (2) does not cause losses to the Consumer. (4) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) through paragraph (3) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Eighth Section
Provision of Services for the Use of Products and Services Paragraph 1 Services to Consumers

Article 53
(1) Financial Service Providers (PUJK) are obligated to treat or serve Consumers correctly in accordance with applicable legislation.
(2) Financial Service Providers (PUJK) are prohibited from providing products and/or services that do not correspond to the information stated in descriptions, advertisements, and/or promotional sales of such products and/or services. (3) Financial Service Providers (PUJK) are obligated to guarantee that the products and/or services provided correspond to applicable legislation and/or agreements. (4) Financial Service Providers (PUJK) are prohibited from providing products and/or services that do not correspond to the agreement. (5) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) through paragraph (4) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 54
(1) Financial Service Providers (PUJK) are obligated to provide information services for Consumers.
(2) Financial Service Providers (PUJK) are obligated to provide equal access to every Consumer according to Consumer classification as referred to in Article 37 paragraph (2). (3) Financial Service Providers (PUJK) have the responsibility to support the provision of special services to Consumers with disabilities and the elderly. (4) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) and/or paragraph (2) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah). (7) In the event that the PUJK fails to implement administrative sanctions as referred to in paragraph (4) for violations of the provisions as referred to in paragraph (1) within the timeframe stated in the sanction determination, the PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 55
(1) Financial Service Providers (PUJK) are obligated to maintain the security of Consumer deposits, funds, or assets under the responsibility of the PUJK. (2) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 56
(1) Financial Service Providers (PUJK) are obligated to provide:
a. proof of ownership of products and/or utilization of services; b. access to obtain proof of ownership of products and/or utilization of services; and/or
c. access to print proof of ownership of products and/or utilization of services,
to Consumers promptly in accordance with the agreement between the PUJK and the Consumer.
(2) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(3) Sanctions as referred to in paragraph (2) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (2) letter a. (4) Fine sanctions as referred to in paragraph (2) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 57
(1) Financial Service Providers (PUJK) are obligated to provide reports to Consumers regarding balance positions and fund, asset, or liability transactions accurately, correctly, and promptly, using methods or means in accordance with the agreement between the PUJK and the Consumer. (2) In the event that the PUJK provides PAYDI, information regarding PAYDI investment management must be provided by the PUJK, at minimum in the form of:
a. sub-fund performance reports (fund fact sheet); b. publication of net asset value for each sub-fund; and
c. reports on the development of cash values,
accurately, correctly, and promptly, using methods or means in accordance with the agreement and applicable legislation in the financial services sector. (3) In the event that the policyholder, insured, or participant requests information regarding PAYDI investment management in the form of cash value balances and details of underlying assets for sub-funds, the PUJK is obligated to provide such information. (4) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1), paragraph (2), and/or paragraph (3) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 58
(1) Financial Service Providers (PUJK) are obligated to execute Consumer instructions in accordance with:
a. the agreement between the PUJK and the Consumer; and b. applicable legislation.
(2) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(3) Sanctions as referred to in paragraph (2) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (2) letter a. (4) Fine sanctions as referred to in paragraph (2) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 59
The Board of Directors and/or Employees must have adequate capacity in providing services for the use of products and/or services.

Paragraph 2
Debt Collection for Credit and Financing Products by Financial Service Providers

Article 60
(1) In the event that a Financial Service Provider (PUJK) conducts debt collection against a Consumer who has breached the contract in the use of credit or financing products, the PUJK is obligated to issue a warning letter in accordance with the timeframe in the agreement. (2) The warning letter as referred to in paragraph (1) must contain at least the following information:
a. the due date in accordance with the agreement; b. the number of days of payment delay for obligations;
c. outstanding principal owed;
d. financing economic benefits; and e. penalties owed and/or compensation owed.
(3) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) and/or paragraph (2) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 61
(1) Financial Service Providers (PUJK) may cooperate with other parties to perform credit or financing debt collection functions to Consumers as referred to in Article 60 paragraph (1). (2) Financial Service Providers (PUJK) are obligated to document cooperation with other parties as referred to in paragraph (1) in at least the form of a written agreement with sufficient stamp duty. (3) Cooperation with other parties as referred to in paragraph (1) must meet the following requirements:
a. the other party is a legal entity; b. the other party has a license from the competent authority; and
c. the other party has human resources that have obtained certification in the field of debt collection from a professional certification body and/or service provider associations registered with the Financial Services Authority (OJK).
(4) In the event that Technology-Based Crowdfunding Service Providers cooperate with other parties as referred to in paragraph (3), such other parties must not be affiliates of the Technology-Based Crowdfunding Service Provider or fund providers. (5) Financial Service Providers (PUJK) are responsible for all impacts arising from cooperation with other parties as referred to in paragraph (1). (6) Financial Service Providers (PUJK) are obligated to conduct periodic evaluations of cooperation with other parties as referred to in paragraph (1). (7) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (2) through paragraph (6) shall be subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities, in whole or in part;
c. freezing of products and/or services and/or business activities, in whole or in part;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(8) Sanctions as referred to in paragraph (7) letters b through g shall be imposed with or without being preceded by the application of a written warning sanction as referred to in paragraph (7) letter a. (9) Fine sanctions as referred to in paragraph (7) letter e shall be imposed at a maximum of IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 62
(1) Financial Service Providers (PUJK) are obligated to ensure that credit or financing debt collection to Consumers is implemented in accordance with norms applicable in society and applicable legislation. (2) In ensuring debt collection actions as referred to in paragraph (1), the PUJK must ensure that debt collection is conducted:
a. without using threats, violence, and/or actions that humiliate the Consumer; b. without using physical or verbal pressure;
c. not to parties other than the Consumer;
d. not continuously in a manner that is disturbing; e. at the debt collection location or Consumer's domicile; f. only on Mondays through Saturdays, excluding national holidays, from 08.00 – 20.00 local time; and g. in accordance with applicable legislation. (3) Debt collection outside the location and/or time as referred to in paragraph (2) letters e and f may only be conducted based on prior approval and/or agreement with the Consumer. (4) Financial Service Providers (PUJK) that violate the provisions as referred to in paragraph (1) and/or (2) shall be subject to administrative sanctions consisting of:

Article 63
(1) In the event that a Financial Service Provider (PUJK) has credit or financing products requiring collateral, the PUJK must have internal guidelines regarding the takeover or withdrawal of collateral. (2) Internal guidelines regarding the takeover or withdrawal of collateral as referred to in paragraph (1) are formulated in accordance with applicable laws and regulations. (3) A PUJK violating the provisions as referred to in paragraph (1) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 64
(1) The takeover or withdrawal of collateral by a PUJK must meet the following requirements:
a. The Consumer is proven to be in breach of contract (wanprestasi); b. The Consumer has been issued a warning letter; and
c. The PUJK holds a fiduciary guarantee certificate, mortgage right certificate, and/or mortgage certificate.
(2) The determination of proven breach of contract as referred to in paragraph (1) letter a is conducted through:
a. a written agreement between the parties containing the voluntary surrender of the collateral object; b. a court decision or Financial Services Sector LAPS (Lembaga Alternatif Penyelesaian Sengketa) decision; and/or
c. other mechanisms in accordance with applicable laws and regulations.

(3) The takeover or withdrawal of collateral as referred to in paragraph (1) must be carried out in accordance with applicable laws and regulations regarding collateral. (4) The takeover or withdrawal of collateral as referred to in paragraph (1) must be recorded in a minutes of takeover or withdrawal of collateral. (5) In the event of collateral takeover or withdrawal, the PUJK must explain to the Consumer information regarding:
a. outstanding principal owed; b. financing economic benefits;
c. fines owed and/or damages owed;
d. costs related to the takeover or withdrawal of collateral; and e. the mechanism for selling the collateral in the event the Consumer does not fulfill their obligations. (6) A PUJK violating the provisions as referred to in paragraph (1), paragraph (3), paragraph (4), and/or paragraph (5) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(7) Sanctions as referred to in paragraph (6) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (6) letter a. (8) Fine sanctions as referred to in paragraph (6) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 65
(1) In the event that the Consumer cannot fulfill obligations within a certain period after the takeover or withdrawal of collateral as referred to in Article 64 paragraph (4), the PUJK intending to sell the collateral must proceed through:
a. public auction and recovering its claims from the sale proceeds; and/or b. private sale conducted based on agreement between the PUJK and the Consumer if this method can obtain the highest price beneficial to both parties. (2) The implementation of the sale as referred to in paragraph (1) is carried out in accordance with applicable laws and regulations regarding collateral. (3) A PUJK violating the provisions as referred to in paragraph (1) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management;

e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 66
(1) A PUJK must provide explanations to the Consumer regarding the process and results of the collateral sale.
(2) A PUJK must return excess funds from the proceeds of the collateral sale through public auction as referred to in Article 65 paragraph (1) letter a or private sale of collateral as referred to in Article 65 paragraph (1) letter b to the Consumer within a period in accordance with the agreement between the PUJK and the Consumer. (3) If the period as referred to in paragraph (2) cannot be agreed upon between the Consumer and the PUJK, the period refers to internal guidelines. (4) A PUJK violating the provisions as referred to in paragraph (1) and/or paragraph (2) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Ninth Part
Handling Complaints and Dispute Resolution for Products and Services Paragraph 1 Complaint Services Subparagraph 1 Scope and Principles of Complaint Services

Article 67
(1) A PUJK is prohibited from charging fees to the Consumer in implementing policies and procedures for Consumer Complaint Services.
(2) A PUJK violating the provisions as referred to in paragraph (1) is subject to administrative sanctions consisting of:
a. written warning;

b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(3) Sanctions as referred to in paragraph (2) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (2) letter a. (4) Fine sanctions as referred to in paragraph (2) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (5) In the event that a PUJK fails to implement administrative sanctions as referred to in paragraph (2) within the period stated in the sanction determination, the PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 68
(1) A PUJK must have and implement a complaint handling mechanism for complaints submitted by Consumers.
(2) A PUJK must include brief complaint service procedures in agreements and/or documents utilizing products and/or services.
(3) A PUJK violating the provisions as referred to in paragraph (1) and/or paragraph (2) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 69
(1) A PUJK must provide Consumer Complaint Services.
(2) The complaint services as referred to in paragraph (1) have a scope consisting of:
a. receipt of complaints; b. handling of complaints; and
c. resolution of complaints.
(3) In the event that the utilization of PUJK services operates for 24 (twenty-four) hours, the PUJK must provide at least 24 (twenty-four) hours of complaint receipt services.

(4) A PUJK violating the provisions as referred to in paragraph (1) and/or paragraph (3) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (7) In the event that a PUJK fails to implement administrative sanctions as referred to in paragraph (4) for violations of the provisions as referred to in paragraph (1) within the period stated in the sanction determination, the PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Subparagraph 2
Receipt of Complaints

Article 70
(1) A PUJK must receive, record, and document every complaint submitted by a Consumer.
(2) Complaints as referred to in paragraph (1) can be conducted orally and/or in writing.
(3) Every PUJK office must receive complaints submitted by Consumers.
(4) A PUJK violating the provisions as referred to in paragraph (1) and/or paragraph (3) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 71
(1) A PUJK must handle complaints in writing for Consumers who have completed the required documents.
(2) Documents required by the PUJK as referred to in paragraph (1) consist of:
a. Consumer identity; b. type and date of utilization of products and/or services;
c. issues complained about; and
d. other documents.
(3) In the event that the Consumer has documents directly related to the submitted issue, the PUJK may designate such documents as supporting documents that must be completed by the Consumer. (4) In the event that the Consumer has not fulfilled the documents as referred to in paragraph (2) and/or paragraph (3), the PUJK must inform and request the completion of such missing documents to the Consumer. (5) A PUJK must provide the Consumer with a period of 10 (ten) working days to complete the missing documents as referred to in paragraph (4). (6) In the event of specific conditions, the PUJK may extend the period as referred to in paragraph (5) for a period of 10 (ten) working days. (7) Specific conditions as referred to in paragraph (6):
a. the required documents are not located at the Consumer's domicile; and/or b. there are other matters beyond the Consumer's control.
(8) The extension of the period as referred to in paragraph (6) must be communicated to the Consumer before the period expires.
(9) A PUJK violating the provisions as referred to in paragraph (1), paragraph (4), paragraph (5), and/or paragraph (8) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(10) Sanctions as referred to in paragraph (9) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (9) letter a. (11) Fine sanctions as referred to in paragraph (9) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 72
(1) A PUJK must submit a confirmation of complaint receipt to Consumers who submit complaints orally.
(2) Confirmation of complaint receipt as referred to in paragraph (1) must consist of at least:
a. complaint registration number; and

b. date of complaint receipt.
(3) Confirmation of complaint receipt as referred to in paragraph (2) is submitted by Employees who perform the functions or units of Consumer Protection. (4) A PUJK violating the provisions as referred to in paragraph (1) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 73
(1) A PUJK must submit proof of complaint receipt to Consumers who submit complaints in writing.
(2) Proof of complaint receipt as referred to in paragraph (1) must consist of at least:
a. complaint registration number; b. date of complaint receipt; and
c. telephone number or other communication channel from the PUJK that can be contacted by the Consumer.
(3) Proof of complaint receipt as referred to in paragraph (2) is signed or issued by Employees who perform the functions or units of Consumer Protection. (4) A PUJK violating the provisions as referred to in paragraph (1) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Subparagraph 3
Handling of Complaints

Article 74
(1) A PUJK must follow up and resolve oral complaints within a maximum of 5 (five) working days from the time the complaint is received by the PUJK. (2) In the event that the PUJK requires supporting documents and the complaint resolution period as referred to in paragraph (1) cannot be met, the PUJK requests the Consumer to submit the complaint in writing by attaching the necessary supporting documents. (3) A PUJK violating the provisions as referred to in paragraph (1) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (6) In the event that a PUJK fails to implement administrative sanctions as referred to in paragraph (3) within the period stated in the sanction determination, the PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 75
(1) A PUJK must follow up and resolve written complaints within a maximum of 10 (ten) working days from the time the documents as referred to in Article 71 paragraph (2) and/or paragraph (3) are received completely. (2) In the event of specific conditions, the PUJK may extend the period for a maximum of 10 (ten) working days from the time the period as referred to in paragraph (1) expires. (3) Specific conditions as referred to in paragraph (2):
a. the PUJK office receiving the complaint is not the same as the PUJK office where the complained issue occurred, and there are communication obstacles between the two PUJK offices; b. the complaint submitted by the Consumer requires special research into PUJK documents; and/or
c. there are other matters beyond the control of the PUJK.
(4) The extension of the complaint resolution period as referred to in paragraph (2) must be notified in writing to the Consumer who submitted the complaint before the period as referred to in paragraph (1) expires.

(5) Complaint resolution outside the period as referred to in paragraph (1) and paragraph (2) can be conducted by the PUJK with the following requirements:
a. complaint resolution requires follow-up by other parties; and b. the follow-up conducted by the other parties affects the complaint resolution period as referred to in paragraph (1) and paragraph (2). (6) In the event that the other parties as referred to in paragraph (5) are PUJKs, the other parties must submit complaint follow-up within a maximum of 10 (ten) working days from the date of the follow-up request from the PUJK that received the initial complaint. (7) Complaint resolution outside the period as referred to in paragraph (5) must be notified in writing to the Consumer. (8) A PUJK violating the provisions as referred to in paragraph (1), paragraph (4), paragraph (6), and/or paragraph (7) is subject to administrative sanctions consisting of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (8) letter a. (10) Fine sanctions as referred to in paragraph (8) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (11) In the event that a PUJK fails to implement administrative sanctions as referred to in paragraph (8) for violations of the provisions as referred to in paragraph (1) within the period stated in the sanction determination, the PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 76
(1) A PUJK may refuse to handle a complaint if:
a. the Consumer fails to complete document requirements within the established period; b. the previous complaint has been resolved by the PUJK in accordance with this Financial Services Authority Regulation;
c. the complaint is not related to material losses and/or potential material losses that are fair and direct as stated in the agreement and/or documents utilizing products and/or services;
d. the complaint is not related to the utilization of products and/or services issued by the respective PUJK; and/or e. the complaint is in process or has been decided by a civil court institution.

(2) Rejection of Complaints as referred to in paragraph (1) letter d is excluded for the utilization of products and/or services issued based on cooperation with other Financial Service Business Entities (PUJK).

Subparagraph 4
Complaint Resolution
Article 77
(1) PUJK is required to provide a Complaint Response to Consumers regarding received Complaints.
(2) In the event a Complaint is submitted in writing, PUJK must submit the Complaint Response in writing.
(3) In the event a Complaint is submitted orally, PUJK must submit the Complaint Response orally and/or in writing.
(4) PUJK that violates the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (7) In the event PUJK does not fulfill the implementation of administrative sanctions as referred to in paragraph (4) within the time period stated in the sanction determination, PUJK may be subject to sanctions in accordance with laws regarding the development and strengthening of the financial sector.

Article 78
(1) Complaint Responses as referred to in Article 77 paragraph (1) may consist of:
a. explanation of the problem, in the event there is no error, negligence, or act contrary to regulations in the financial services sector, and/or agreements, whether committed by the Board of Directors, Board of Commissioners, Employees, and/or committed by third parties working for or representing the interests of PUJK that cause loss and/or potential loss to Consumers; or b. settlement offer, in the event there is an error, negligence, or act contrary to regulations in the financial services sector, and/or agreements, whether committed by the Board of Directors, Board of Commissioners, Employees, and/or committed by third parties working for or representing the interests of PUJK that cause loss and/or potential loss to Consumers. (2) PUJK must specify a sufficient time period for Consumers to approve or reject a Complaint Response consisting of a settlement offer. (3) PUJK is required to implement the settlement steps agreed upon in the event a Consumer approves a Complaint Response consisting of a settlement offer from PUJK. (4) PUJK is required to provide written confirmation in the event an oral Complaint Response is not approved by the Consumer. (5) PUJK is required to record audio and/or video of the entire oral Complaint Service process conducted through personal communication media of prospective Consumers and/or Consumers using audio and/or video. (6) Recording of the entire Complaint Service process as referred to in paragraph (5) must be conducted in accordance with regulations. (7) Provisions regarding Consumer complaint services in the financial services sector are implemented in accordance with Financial Services Authority Regulations regarding consumer complaint services in the financial services sector. (8) PUJK that violates the provisions as referred to in paragraphs (3) through (6) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (8) letter a. (10) Fine sanctions as referred to in paragraph (8) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Subparagraph 5
Complaint Service Report
Article 79
(1) PUJK is required to compile and submit a Complaint Service Report semi-annually to the Financial Services Authority.
(2) The Complaint Service Report as referred to in paragraph (1) is submitted to the Financial Services Authority c.q. the Executive Head of PUJK Behavior Supervision, Education, and Consumer Protection. (3) The Complaint Service Report as referred to in paragraph (1) must be submitted no later than the 10th of the following month after the semi-annual period ends. (4) If the final deadline for submitting the Complaint Service Report as referred to in paragraph (3) falls on a Saturday, Sunday, or holiday, the Complaint Service Report must be submitted on the next working day. (5) PUJK that violates the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in the form of an administrative fine with the following details:
a. amounting to IDR 50,000,000.00 (fifty million rupiah) for each report for PUJK in the form of Commercial Banks, Securities Companies, Pension Funds, Insurance Companies, Reinsurance Companies, Infrastructure Financing Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives conducting activities in the financial services sector, Indonesian Export Financing Agency, secondary housing financing companies, Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 25,000,000.00 (twenty-five million rupiah) for each report for PUJK in the form of People's Business Banks, Financing Companies, Venture Capital Companies, Guarantee Institutions, and Digital Financial Asset Trading Companies. (6) Other financial service business entities, Private Pawnshops, Microfinance Institutions, parties conducting fundraising, lending, and fund management activities in the financial services sector, and those declared supervised by the Financial Services Authority based on regulations outside PUJK as referred to in paragraph (5), that violate the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in the form of a written warning.

Article 80
(1) Submission of the Complaint Service Report is conducted through the electronic reporting system provided by the Financial Services Authority.
(2) In the event the Financial Services Authority states that the electronic reporting system as referred to in paragraph (1) cannot be accessed due to disruption, the report is submitted to the Financial Services Authority offline and/or online. (3) Submission of reports offline and/or online as referred to in paragraph (2) must be accompanied by a printed cover letter signed by one member of the Board of Directors. (4) PUJK that has submitted a report as referred to in paragraph (2) is required to resubmit the report through the electronic reporting system provided by the Financial Services Authority no later than 5 (five) working days after the Financial Services Authority states that the system disruption has been resolved. (5) PUJK that violates the provisions as referred to in paragraph (4) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 81
(1) PUJK is declared late in submitting the Complaint Service Report as referred to in Article 79 paragraph (3) if PUJK submits the Complaint Service Report after the final submission deadline up to a maximum of 30 (thirty) days. (2) If by the end of the late submission period as referred to in paragraph (1) PUJK has not yet submitted the Complaint Service Report, PUJK is declared not to have submitted the Complaint Service Report as referred to in Article 79 paragraph (3). (3) PUJK declared not to have submitted the Complaint Service Report as referred to in paragraph (2) remains required to submit the Complaint Service Report to the Financial Services Authority. (4) Further provisions regarding the form of the report and procedures for filling out the Complaint Service Report are established by the Financial Services Authority. (5) PUJK that is late in submitting the report as referred to in paragraph (1) shall be subject to administrative sanctions in the form of an administrative fine with the following details:
a. amounting to IDR 100,000.00 (one hundred thousand rupiah) per day of delay for PUJK in the form of Commercial Banks, Securities Companies, Pension Funds, Insurance Companies, Reinsurance Companies, Infrastructure Financing Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives conducting activities in the financial services sector, Indonesian Export Financing Agency, secondary housing financing companies, Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or
c. amounting to IDR 50,000.00 (fifty thousand rupiah) per day of delay for PUJK in the form of People's Business Banks, Financing Companies, Venture Capital Companies, Guarantee Institutions, and Digital Financial Asset Trading Companies.
(6) Other financial service business entities, Private Pawnshops, Microfinance Institutions, parties conducting fundraising, lending, and fund management activities in the financial services sector, and those declared supervised by the Financial Services Authority based on regulations outside PUJK as referred to in paragraph (5), that are late in submitting the plan report as referred to in paragraph (1) shall be subject to administrative sanctions in the form of a written warning. (7) PUJK that violates the provisions as referred to in paragraph (3) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(8) Sanctions as referred to in paragraph (7) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (7) letter a. (9) Fine sanctions as referred to in paragraph (7) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Paragraph 2
Complaint Resolution in the Financial Services Sector
Article 82
(1) In the event there is no agreement on the results of Complaint handling conducted by PUJK, Consumers may:
a. submit a Complaint to the Financial Services Authority for handling in accordance with the authority of the Financial Services Authority; or b. file a Dispute with a Financial Services Sector Alternative Dispute Resolution Body (LAPS) approved by the Financial Services Authority or to the court. (2) In the event a Consumer submits a Complaint or files a Dispute as referred to in paragraph (1), PUJK has the right to defend itself in the resolution of Consumer Disputes, based on regulations. (3) In conducting self-defense as referred to in paragraph (2), PUJK has the right to provide evidence. (4) In the event there is a claim for damages based on tortious acts, the burden of proof regarding the existence of fault elements is the responsibility of PUJK.

Article 83
(1) In the resolution of Disputes, the Financial Services Authority has the authority to conduct supervision, examination, and imposition of sanctions against Financial Services Sector Alternative Dispute Resolution Bodies (LAPS) as referred to in Article 82 paragraph (1) letter b. (2) Provisions regarding Financial Services Sector Alternative Dispute Resolution Bodies (LAPS) are implemented in accordance with Financial Services Authority Regulations regarding alternative dispute resolution institutions in the financial services sector.

Article 84
(1) PUJK has the right to obtain rehabilitation of its good name if it is legally proven that Consumer losses were not caused by products and/or services provided in accordance with regulations. (2) The form of rehabilitation of PUJK's good name is determined by court decisions that have permanent legal force.

Part Ten
Self-Assessment
Article 85
(1) PUJK conducts self-assessment regarding the fulfillment of Consumer and community protection provisions.
(2) PUJK is required to submit a self-assessment report as referred to in paragraph (1) to the Financial Services Authority c.q. the Executive Head of PUJK Behavior Supervision, Education, and Consumer Protection once every 1 (one) year no later than September 30 of the current year. (3) In the event September 30 as referred to in paragraph (2) falls on a Saturday, Sunday, or holiday, the assessment report must be submitted on the next working day. (4) PUJK that violates the provisions as referred to in paragraph (2) shall be subject to administrative sanctions in the form of an administrative fine:
a. amounting to IDR 50,000,000.00 (fifty million rupiah) for PUJK in the form of Commercial Banks, Securities Companies, Pension Funds, Insurance Companies, Reinsurance Companies, Infrastructure Financing Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives conducting activities in the financial services sector, Indonesian Export Financing Agency, secondary housing financing companies, Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 25,000,000.00 (twenty-five million rupiah) for PUJK in the form of People's Business Banks, Financing Companies, Venture Capital Companies, Guarantee Institutions, and Digital Financial Asset Trading Companies. (5) Other financial service business entities, Private Pawnshops, Microfinance Institutions, parties conducting fundraising, lending, and fund management activities in the financial services sector, and those declared supervised by the Financial Services Authority based on regulations outside PUJK as referred to in paragraph (4), that violate the provisions as referred to in paragraphs (1) and/or (2) shall be subject to administrative sanctions in the form of a written warning.

Article 86
(1) Submission of the self-assessment report is conducted through the electronic reporting system provided by the Financial Services Authority.
(2) In the event the Financial Services Authority states that the electronic reporting system as referred to in paragraph (1) cannot be accessed due to disruption, the report is submitted to the Financial Services Authority offline and/or online. (3) Submission of reports offline and/or online as referred to in paragraph (2) must be accompanied by a printed cover letter signed by one member of the Board of Directors. (4) PUJK that has submitted a report as referred to in paragraph (2) is required to resubmit the report through the electronic reporting system provided by the Financial Services Authority no later than 5 (five) working days after the Financial Services Authority states that the system disruption has been resolved. (5) PUJK that violates the provisions as referred to in paragraph (4) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 87
(1) If PUJK submits the self-assessment report after the final submission deadline up to a maximum of 30 (thirty) days, PUJK is declared late in submitting the self-assessment report as referred to in Article 85 paragraph (2). (2) If by the end of the late submission period as referred to in paragraph (1), PUJK has not yet submitted the self-assessment report, PUJK is declared not to have submitted the self-assessment report as referred to in Article 85 paragraph (2). (3) PUJK declared not to have submitted the self-assessment report as referred to in paragraph (2) remains required to submit the self-assessment report to the Financial Services Authority. (4) Further provisions regarding self-assessment are established by the Financial Services Authority. (5) PUJK that is late in submitting the report as referred to in paragraph (1) shall be subject to administrative sanctions in the form of an administrative fine:
a. amounting to IDR 100,000.00 (one hundred thousand rupiah) per day of delay for PUJK in the form of Commercial Banks, Securities Companies, Pension Funds, Insurance Companies, Reinsurance Companies, Infrastructure Financing Companies, PT Pegadaian, institutions managing mandatory public funds, cooperatives conducting activities in the financial services sector, Indonesian Export Financing Agency, secondary housing financing companies, Technology-Based Crowdfunding Service Providers, PT Permodalan Nasional Madani, and Crowdfunding Service Providers; or b. amounting to IDR 50,000.00 (fifty thousand rupiah) per day of delay for PUJK in the form of People's Business Banks, Financing Companies, Venture Capital Companies, Guarantee Institutions, and Digital Financial Asset Trading Companies. (6) Other financial service business entities, Private Pawnshops, Microfinance Institutions, parties conducting fundraising, lending, and fund management activities in the financial services sector, and those declared supervised by the Financial Services Authority based on regulations outside PUJK as referred to in paragraph (5), that are late in submitting the plan report as referred to in paragraph (1) shall be subject to administrative sanctions in the form of a written warning. (7) PUJK that violates the provisions as referred to in paragraph (3) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(8) Sanctions as referred to in paragraph (7) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (7) letter a. (9) Fine sanctions as referred to in paragraph (7) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

CHAPTER III
CONSUMER AND COMMUNITY PROTECTION INFRASTRUCTURE
Part One
Consumer Protection Function or Unit
Article 88
(1) PUJK is required to have a function or unit for the implementation of Consumer and community protection provisions.
(2) The function or unit as referred to in paragraph (1) may be held concurrently by another function or unit.
(3) The concurrent holding of functions or units as referred to in paragraph (2) follows provisions regulating the concurrent holding of functions or units in each respective PUJK. (4) In the event there are no provisions regarding the concurrent holding of functions or units, PUJK may conduct concurrent holding of functions or units according to needs. (5) The concurrent holding of functions or units as referred to in paragraph (4) is conducted by avoiding conflicts of interest among Employees. (6) In forming a function or unit as referred to in paragraph (1), PUJK considers:
a. asset amount; b. number of offices;
c. number and complexity of products and/or services;
d. number of Consumer classifications; and/or e. number of PUJK human resources.
(7) PUJK is required to form a function or unit as referred to in paragraph (1) that conducts the receipt, handling, and/or resolution of Complaints at every PUJK office. (8) PUJK is required to provide information media to publicize the existence of the function or unit as referred to in paragraph (1) that conducts the receipt, handling, and/or resolution of Complaints. (9) PUJK is required to ensure that Employees in the function or unit as referred to in paragraph (1) that conducts the receipt, handling, and/or resolution of Complaints have at least:
a. knowledge of the types of financial service products and/or services provided or issued by PUJK, and Complaint handling; and b. authority to handle Complaints. (10) PUJK that violates the provisions as referred to in paragraphs (1), (7), (8), and (9) shall be subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business license.
(11) Sanctions as referred to in paragraph (10) letters b through g are imposed with or without prior imposition of a written warning sanction as referred to in paragraph (10) letter a. (12) Fine sanctions as referred to in paragraph (10) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 89
The Consumer Protection function or unit has duties including:
a. providing socialization to all Employees in PUJK regarding Consumer and community protection; b. coordinating the planning and implementation process of PUJK compliance with provisions regarding Consumer and community protection in the financial services sector;
c. coordinating with related units for monitoring and evaluation of PUJK compliance with provisions regarding Consumer and community protection in the financial services sector;
d. reporting to the Board of Directors regarding the implementation of Consumer and community protection, and providing recommendations for improvement and development of Consumer and community protection; e. coordinating the compilation and submission of reports regarding Consumer and community protection in the financial services sector;

financial services in accordance with the provisions of legislation in the financial services sector; f. receive, handle, and resolve Complaints submitted by Consumers; g. prepare complaint handling materials to be included in annual reports, websites (laman), and/or other media officially managed by PUJK; h. serve as a liaison for handling Complaints submitted by Consumers to the Financial Services Authority and/or other authorities; and
i. other tasks in Consumer Protection.

Second Section
Organization and Reporting

Article 90
(1) The Board of Directors is responsible for compliance with the implementation of the provisions of this Financial Services Authority Regulation. (2) The Board of Commissioners must supervise the implementation of the Board of Directors' responsibilities regarding compliance with the implementation of the provisions of this Financial Services Authority Regulation. (3) The Board of Directors must appoint:
a. members of the Board of Directors or officials at a level below the Board of Directors at the headquarters; and b. officials and/or Employees at every office other than the headquarters, who carry out the Consumer Protection function or unit. (4) The official carrying out the Consumer Protection function or unit as referred to in paragraph (3) letter a is directly responsible to the Board of Directors of the PUJK. (5) PUJK must have a reporting mechanism for compliance with the provisions of this Financial Services Authority Regulation. (6) PUJK, the Board of Directors, and/or the Board of Commissioners that violate the provisions as referred to in paragraph (1), paragraph (2), paragraph (3), and/or paragraph (5) are subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(7) Sanctions as referred to in paragraph (6) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (6) letter a. (8) Fine sanctions as referred to in paragraph (6) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Third Section
Human Resource Capacity Development

Article 91
(1) PUJK must conduct capacity development of PUJK Employees regarding Consumer Protection and community provisions in the financial services sector for PUJK Employees. (2) The capacity development of PUJK Employees as referred to in paragraph (1) is conducted through training. (3) The training as referred to in paragraph (2) is conducted periodically at least 1 (one) time in 1 (one) year for Employees in the Consumer Protection function or unit. (4) Training as referred to in paragraph (2) regarding Consumer Protection for Employees outside the Consumer Protection function or unit is conducted at least 1 (one) time during their employment period. (5) Materials in Consumer Protection training include:
a. Complaint Service procedures; b. main duties of the Consumer Protection function or unit;
c. knowledge of financial services products and/or services provided and/or issued by PUJK; and
d. ethics and procedures for communicating with Consumers.
(6) PUJK evaluates the process and impact of the implementation of Complaint Service training as referred to in paragraph (3).
(7) PUJK follows up on the results of training evaluations through the improvement of training materials and methods.
(8) PUJK that violates the provisions as referred to in paragraph (1) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (8) letter a. (10) Fine sanctions as referred to in paragraph (8) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

CHAPTER IV
RIGHTS AND OBLIGATIONS
OF PROSPECTIVE CONSUMERS AND CONSUMERS

Article 92
(1) In the implementation of Consumer Protection and community services, prospective Consumers and/or Consumers have rights and obligations.
(2) The rights of prospective Consumers and/or Consumers as referred to in paragraph (1) include:
a. obtaining safety in using products and/or utilizing services as stipulated in the provisions of legislation and/or agreements; b. choosing products and/or services;
c. obtaining products and/or services in accordance with the offered promises and/or in accordance with the provisions of legislation;
d. obtaining information regarding products and/or services that is clear, accurate, correct, easily accessible, and not potentially misleading; e. having opinions and complaints heard regarding products used and/or services utilized; f. obtaining advocacy, protection, and dispute resolution efforts for Consumer Disputes in accordance with the provisions of legislation; g. receiving financial education; h. being treated or served correctly;
i. obtaining compensation if products and/or services received do not match the agreement and/or the provisions of legislation;
j. forming Consumer associations; and k. other rights regulated in the provisions of legislation.
(3) The obligations of prospective Consumers and/or Consumers as referred to in paragraph (1) include:
a. listening to explanations of information regarding products and/or services provided by PUJK through specific marketing methods before purchasing PUJK products and/or services; b. reading, understanding, and correctly implementing agreements and/or documents for the use of products and/or services;
c. acting in good faith in the use of products and/or services;
d. providing clear, accurate, correct, and non-misleading information and/or documents; e. paying according to the value/price and/or costs of products and/or services agreed upon with PUJK; and f. following Consumer Protection Dispute resolution efforts in accordance with the provisions of legislation. (4) In the event that prospective Consumers and/or Consumers do not fulfill the obligations as referred to in paragraph (3), PUJK may take:
a. suspension; b. restriction;
c. rejection;
d. not providing services; and/or e. fines in accordance with the agreement, against prospective Consumers and/or Consumers.

CHAPTER V
PROVISION OF CONSUMER AND COMMUNITY SERVICES IN THE FINANCIAL SERVICES SECTOR BY THE FINANCIAL SERVICES AUTHORITY

Article 93
(1) Consumers and/or the community may utilize services provided by the Financial Services Authority in the form of:
a. information reception services; b. information provision services; and
c. complaint services.
(2) The utilization of services as referred to in paragraph (1) by Consumers and the community is submitted to:
a. the Executive Head of PUJK Behavior Supervision, Education, and Consumer Protection c.q. work unit in the Field of PUJK Behavior Supervision, Education, and Consumer Protection; or b. the Head of the Financial Services Authority Office in the region. (3) Information that can be received and processed as referred to in paragraph (1) letter a and information provided as referred to in paragraph (1) letter b is Information related to the characteristics of the financial services sector, services, products, and other Information.

Article 94
(1) Consumers and/or the community may provide Information to the Financial Services Authority through information reception services.
(2) The provision of information from Consumers and/or the community can be done through letters, electronic letters, the Financial Services Authority website, telephone, face-to-face, and/or other media officially managed by the Financial Services Authority. (3) The Financial Services Authority may provide responses to Information submitted by Consumers and/or the community. (4) Responses from the Financial Services Authority as referred to in paragraph (3) are submitted through letters, electronic letters, the Financial Services Authority website, telephone, face-to-face, and/or other media officially managed by the Financial Services Authority.

Article 95
(1) Consumers and/or the community may request Information from the Financial Services Authority through information provision services.
(2) The Financial Services Authority provides information services through letters, electronic letters, the Financial Services Authority website, telephone, face-to-face, and/or other media officially managed by the Financial Services Authority. (3) If Consumers and/or the community request through letters and are accompanied by:
a. mailing address, contact telephone number, or electronic mail address; and b. valid identity documents, the Financial Services Authority will provide information through letters as referred to in paragraph (1). (4) The Financial Services Authority may request Information from PUJK through letters and/or electronic letters to provide information services. (5) PUJK must fulfill Information requests as referred to in paragraph (4) within a maximum of 10 (ten) working days from the date of submission of the Information request through letters and/or electronic letters. (6) If there are conditions beyond the control of PUJK, PUJK may extend the time limit by a maximum of 10 (ten) working days from the time limit as referred to in paragraph (5) ending. (7) Time extension requests as referred to in paragraph (6) are received in writing by the Financial Services Authority before the time limit as referred to in paragraph (5) ends. (8) PUJK that violates the provisions as referred to in paragraph (5) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(9) Sanctions as referred to in paragraph (8) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (8) letter a. (10) Fine sanctions as referred to in paragraph (8) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 96
(1) Consumers may submit Complaints through complaint services to the Financial Services Authority.
(2) Submission of Complaints as referred to in paragraph (1) is done through the Integrated Consumer and Community Service System in the Financial Services Sector. (3) Consumers can monitor the resolution of Complaints in the Integrated Consumer and Community Service System in the Financial Services Sector. (4) PUJK must monitor Complaints in the Integrated Consumer and Community Service System in the Financial Services Sector. (5) In the event of Complaints related to PUJK based on monitoring as referred to in paragraph (4), PUJK must follow up on Complaints in accordance with the provisions as referred to in Articles 70 through 78 and Financial Services Authority Regulations regarding consumer complaint services in the financial services sector. (6) PUJK must submit Complaint Responses through the Integrated Consumer and Community Service System in the Financial Services Sector. (7) Consumers are given 10 (ten) working days to submit responses to PUJK Complaint Responses in the Integrated Consumer and Community Service System in the Financial Services Sector. (8) In the event that Consumers do not respond to Complaint Responses within the time limit as referred to in paragraph (7), the Financial Services Authority determines the Complaint as resolved. (9) PUJK that violates the provisions as referred to in paragraph (4), paragraph (5), and paragraph (6) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(10) Sanctions as referred to in paragraph (9) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (9) letter a. (11) Fine sanctions as referred to in paragraph (9) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 97
Provisions regarding consumer and community services by the Financial Services Authority are implemented in accordance with Financial Services Authority Regulations regarding the provision of consumer and community services in the financial services sector by the Financial Services Authority.

CHAPTER VI
LEGAL DEFENSE BY THE FINANCIAL SERVICES AUTHORITY FOR CONSUMER AND COMMUNITY PROTECTION

Article 98
(1) For Consumer Protection and community protection, the Financial Services Authority has the authority to conduct legal defense including:
a. ordering or taking certain actions to PUJK to resolve Consumer Complaints; and/or b. filing lawsuits.
(2) In conducting legal defense as referred to in paragraph (1), the Financial Services Authority may request documents and/or information from:
a. PUJK; b. supporting institutions and professions conducting activities in the financial services sector; and/or
c. other parties.
(3) PUJK, supporting institutions, and/or professions conducting activities in the financial services sector must fulfill requests for documents and/or information from the Financial Services Authority as referred to in paragraph (2) within the time limit determined by the Financial Services Authority. (4) In the event that PUJK, supporting institutions, and/or professions conducting activities in the financial services sector do not execute orders or do not take certain actions as referred to in paragraph (1) letter a, PUJK is subject to sanctions in accordance with the Law regarding the Financial Services Authority as amended by laws regarding the development and strengthening of the financial sector. (5) PUJK, supporting institutions, and/or professions conducting activities in the financial services sector that do not fulfill the provisions as referred to in paragraph (3) are subject to administrative sanctions in the form of:
a. written warning; b. administrative fine;
c. dismissal of management;
d. restriction of products and/or services and/or business activities for part or all; e. freezing of products and/or services and/or business activities for part or all; f. revocation of product and/or service licenses; and/or g. revocation of business licenses. (6) Sanctions as referred to in paragraph (5) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (5) letter a. (7) Fine sanctions as referred to in paragraph (5) letter b are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 99
(1) Lawsuits as referred to in Article 98 paragraph (1) letter b are filed:
a. to recover the assets of the harmed party from the party causing the damage, whether under the control of the party causing the damage or under the control of other parties acting in bad faith; and/or b. to obtain compensation from the party causing damage to Consumers and/or LJK as a result of violations of the provisions of legislation in the financial services sector. (2) Compensation as referred to in paragraph (1) letter b is only used for paying compensation to the harmed party. (3) Civil lawsuits for Consumer Protection and community protection as referred to in paragraph (1) are conducted based on the assessment of the Financial Services Authority, not at the request of Consumers.

Article 100
(1) In the event that a court decision that has permanent legal force fully or partially grants the lawsuit, the Financial Services Authority provides information to Consumers and PUJK regarding the planned distribution of loss payments. (2) The Financial Services Authority appoints a third party to:
a. execute court decisions; b. store and maintain assets;
c. conduct auction processes;
d. administer compensation results; and/or e. distribute compensation results, in accordance with the provisions of legislation.
(3) The Financial Services Authority determines the procedures for the distribution of the return of losses to Consumers, the community, and/or PUJK. (4) In the event that after distribution as referred to in paragraph (2) letter e there is still excess compensation proceeds, the Financial Services Authority returns the funds to PUJK or the sued party. (5) The Financial Services Authority appoints a third party to conduct the return as referred to in paragraph (4). (6) Further provisions regarding civil lawsuits are determined by the Financial Services Authority.

CHAPTER VII
SUPERVISION OF PUJK BEHAVIOR BY THE FINANCIAL SERVICES AUTHORITY

Article 101
(1) The Financial Services Authority has the authority to conduct Supervision of PUJK Behavior (Market Conduct).
(2) Supervision of PUJK Behavior (Market Conduct) as referred to in paragraph (1) is conducted with the aim to:
a. ensure PUJK compliance in implementing Consumer Protection and community provisions directly and/or indirectly; and b. realize a balance of rights and obligations between Consumers and PUJK in the use of financial services products and/or services.

Article 102
The Financial Services Authority conducts Supervision of PUJK Behavior (Market Conduct) by:
a. indirect supervision; and/or b. direct supervision.

First Section
Indirect Supervision

Article 103
Indirect supervision is conducted by:
a. analysis of information and reports received by the Financial Services Authority; and b. field observation.

Article 104
(1) In conducting indirect supervision as referred to in Article 103, the Financial Services Authority has the authority to request documents and/or information from PUJK. (2) PUJK must fulfill requests for documents and/or information as referred to in paragraph (1) within the time limit determined by the Financial Services Authority. (3) PUJK that violates the provisions as referred to in paragraph (2) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g can be imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Administrative fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Second Section
Direct Supervision

Article 105
Direct supervision is conducted by:
a. Thematic Examinations; and/or b. Special Examinations.

Article 106
(1) Direct supervision as referred to in Article 105 is conducted by the PUJK behavior supervision team (market conduct).
(2) Direct supervision as referred to in Article 105 can be conducted inside and/or outside PUJK offices.

Article 107
(1) Thematic Examinations as referred to in Article 105 letter a are implemented based on themes determined by the Financial Services Authority.
(2) Special Examinations as referred to in Article 105 letter b are examinations conducted related to specific aspects of PUJK.

Article 108
(1) In the implementation of Thematic Examinations and Special Examinations by the Financial Services Authority, PUJK must display and/or provide:
a. books, files, notes, dispositions, and/or memoranda; b. documents, electronic data, including copies;
c. statements and explanations related to business activities, both oral and written;
d. the existence and use of physical facilities related to business activities; and e. other matters required in Thematic Examinations and Special Examinations. (2) PUJK must display and/or provide matters as referred to in paragraph (1) within the time limit determined by the Financial Services Authority. (3) PUJK is prohibited from hindering the process of Thematic Examinations and Special Examinations and influencing the opinions, assessments, or work results of the Financial Services Authority. (4) PUJK that violates the provisions as referred to in paragraph (1), paragraph (2), and paragraph (3) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(5) Sanctions as referred to in paragraph (4) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (4) letter a. (6) Administrative fine sanctions as referred to in paragraph (4) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah). (7) In the event that PUJK does not fulfill the implementation of the Financial Services Authority's authority as referred to in paragraph (3), PUJK may be subject to sanctions in accordance with the Law regarding the Financial Services Authority as amended by laws regarding the development and strengthening of the financial sector.

Third Section
Orders, Taking Specific Actions, and Written Orders

Article 109
(1) In the context of Consumer Protection, the Financial Services Authority has the authority to issue orders or take specific actions to PUJK.
(2) PUJK must execute orders or take specific actions as referred to in paragraph (1).
(3) PUJK that violates the provisions as referred to in paragraph (2) is subject to administrative sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(4) Sanctions as referred to in paragraph (3) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (3) letter a. (5) Administrative fine sanctions as referred to in paragraph (3) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

Article 110
(1) The Financial Services Authority has the authority to issue Written Orders to:
a. replace management or certain parties at PUJK; b. stop, restrict, or improve business activities or transactions;
c. return assets belonging to Consumers;
d. stop or change agreements between PUJK and other parties suspected of harming Consumers, the community, and the financial services sector; e. compensate Consumers and/or the community; and/or f. other Written Orders in accordance with the provisions of legislation in the financial services sector. (2) Written Orders are implemented in accordance with Financial Services Authority Regulations regarding written orders.

CHAPTER VIII
DEVELOPMENT BY THE FINANCIAL SERVICES AUTHORITY
Article 111
The Financial Services Authority may carry out development actions towards Financial Business Actors (PUJK).

CHAPTER IX
COORDINATION
Article 112
The Financial Services Authority may coordinate with the Government and Bank Indonesia regarding the implementation of Consumer and Community Protection in the financial services sector.

CHAPTER X
IMPOSITION OF SANCTIONS AND SUBMISSION OF OBJECTIONS First Section Imposition of Sanctions by the Financial Services Authority
Article 113
The imposition of administrative sanctions by the Financial Services Authority under this Financial Services Authority Regulation is applied according to the level of violation committed and the fulfillment limit within a specific time frame.

Article 114
The Financial Services Authority may announce the imposition of administrative sanctions under this Financial Services Authority Regulation to the public.

Second Section
Submission of Objections by Financial Business Actors (PUJK)
Article 115
(1) A Financial Business Actor (PUJK) subject to administrative sanctions may submit an objection to the Financial Services Authority.
(2) The objection as referred to in paragraph (1) is submitted in writing in the Indonesian language by providing reasons regarding the objection to the imposed administrative sanction and accompanied by supporting evidence. (3) The objection must be submitted within a maximum period of 10 (ten) working days from the date of the administrative sanction determination letter. (4) The objection as referred to in paragraph (1) is submitted to the Financial Services Authority c.q. the official who determined the administrative sanction. (5) The Financial Services Authority approves in full, approves in part, or rejects the objection as referred to in paragraph (1) within a maximum of 10 (ten) working days from the receipt of the objection to the administrative sanction as referred to in paragraph (1). (6) In the event that the objection as referred to in paragraph (1) is approved in full, the Financial Services Authority issues a letter canceling the imposition of the administrative sanction. (7) In the event that the objection as referred to in paragraph (1) is approved in part, the Financial Services Authority issues a letter adjusting the imposition of the administrative sanction. (8) In the event that the objection as referred to in paragraph (1) is rejected, the Financial Services Authority issues a letter rejecting the submitted objection, accompanied by the reasons for rejection and confirmation that the administrative sanction remains valid. (9) In the event that a Financial Business Actor (PUJK) subject to an administrative fine submits an objection to the Financial Services Authority, the obligation to pay the administrative sanction is suspended temporarily from the receipt of the objection request letter until the decision on the objection request is determined.

CHAPTER XI
OTHER PROVISIONS
Article 116
(1) Violations of the provisions as referred to in Financial Services Authority Regulation Number 18/POJK.07/2018 regarding Consumer Complaint Services in the Financial Services Sector and Financial Services Authority Regulation Number 31/POJK.07/2020 regarding the Implementation of Consumer and Community Services in the Financial Services Sector by the Financial Services Authority are subject to sanctions in the form of:
a. written warning; b. restriction of products and/or services and/or business activities for part or all;
c. freezing of products and/or services and/or business activities for part or all;
d. dismissal of management; e. administrative fine; f. revocation of product and/or service licenses; and/or g. revocation of business licenses.
(2) Sanctions as referred to in paragraph (1) letters b through g are imposed with or without being preceded by the imposition of a written warning sanction as referred to in paragraph (1) letter a. (3) Fine sanctions as referred to in paragraph (1) letter e are imposed at most IDR 15,000,000,000.00 (fifteen billion rupiah).

CHAPTER XII
TRANSITIONAL PROVISIONS
Article 117
Standard agreements made by Financial Business Actors (PUJK) before the implementation of this Financial Services Authority Regulation must be adjusted to this Financial Services Authority Regulation no later than December 31, 2024.

CHAPTER XIII
CLOSING PROVISIONS
Article 118
At the time this Financial Services Authority Regulation comes into force:
a. all provisions regarding consumer protection that existed before this Financial Services Authority Regulation comes into force must be read as Consumer Protection; b. all complaint terms used in Financial Services Authority Regulations related to Consumer Protection and Community are replaced with Complaint;
c. all dispute terms used in Financial Services Authority Regulations related to Consumer Protection and Community are replaced with Dispute;
d. all Consumer and/or Consumer Representative terms used in Financial Services Authority Regulations outside this Financial Services Authority Regulation are understood as Consumer; e. all Financial Transaction Document terms used in Financial Services Authority Regulations related to Consumer Protection and Community are replaced with documents utilizing products and/or services; f. “Financial Business Actor” existing before this Financial Services Authority Regulation comes into force is understood to be the same as “Financial Business Actor” as referred to in this Financial Services Authority Regulation; g. “Financial Literacy” existing before this Financial Services Authority Regulation comes into force is understood to be the same as “Financial Literacy” as referred to in this Financial Services Authority Regulation; and h. “Financial Inclusion” existing before this Financial Services Authority Regulation comes into force is understood to be the same as “Financial Inclusion” as referred to in this Financial Services Authority Regulation.

Article 119
Provisions in Financial Services Authority Regulations and implementing regulations regarding the conduct of Financial Business Actors (PUJK) in:
a. product and/or service design; b. provision of product and/or service information;
c. dissemination of product and/or service information;
d. marketing of products and/or services; e. preparation of agreements related to products and/or services; f. provision of services for the use of products and/or services; and g. handling Complaints and resolving Disputes regarding products and/or services, are subject to the provisions of Consumer Protection and Community as referred to in this Financial Services Authority Regulation.

Article 120
At the time this Financial Services Authority Regulation comes into force:
a. implementing provisions of Financial Services Authority Regulation Number 6/POJK.07/2022 regarding Consumer and Community Protection in the Financial Services Sector (State Gazette of the Republic of Indonesia Year 2022 Number 99, Supplement to the State Gazette of the Republic of Indonesia Number 6788) which regulate Consumer Protection and Community in the Financial Services Sector; and b. Circular Letter of the Commissioners Board of the Financial Services Authority of the Republic of Indonesia Number 5/SEOJK.05/2022 regarding Insurance Products Linked to Investment, are declared to remain in force as long as they do not conflict with this Financial Services Authority Regulation.

Article 121
(1) At the time this Financial Services Authority Regulation comes into force:
a. Article 3, Article 4, Article 5, Article 7, Article 10, Article 11, Article 12, Article 15, Article 16, Article 19, Article 21, Article 22, Article 26, Article 27, Article 28, Article 29, Article 31, Article 32, Article 33, Article 42, Article 43, Article 44, and Article 45 of Financial Services Authority Regulation Number 18/POJK.07/2018 regarding Consumer Complaint Services in the Financial Services Sector (State Gazette of the Republic of Indonesia Year 2018 Number 151, Supplement to the State Gazette of the Republic of Indonesia Number 6246); b. Article 47, Article 48, Article 49, Article 50, Article 51, and Article 52 of Financial Services Authority Regulation Number 35/POJK.05/2018 regarding the Implementation of Financing Business (State Gazette of the Republic of Indonesia Year 2018 Number 260, Supplement to the State Gazette of the Republic of Indonesia Number 6286);
c. Article 44, Article 45, Article 46, Article 47, Article 48, and Article 49 of Financial Services Authority Regulation Number 10/POJK.05/2019 regarding the Implementation of Islamic Financing Business and Islamic Business Units of Financing Companies (State Gazette of the Republic of Indonesia Year 2019 Number 40, Supplement to the State Gazette of the Republic of Indonesia Number 6320);
d. Article 4, Article 5, Article 6, Article 7, Article 8, and Article 22 paragraph (1) through paragraph (5), Article 23, and Article 24 of Financial Services Authority Regulation Number 31/POJK.07/2020 regarding the Implementation of Consumer and Community Services in the Financial Services Sector by the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2020 Number 123, Supplement to the State Gazette of the Republic of Indonesia Number 6507); e. Financial Services Authority Regulation Number 6/POJK.07/2022 regarding Consumer and Community Protection in the Financial Services Sector (State Gazette of the Republic of Indonesia Year 2022 Number 99, Supplement to the State Gazette of the Republic of Indonesia Number 6788); f. Article 102, Article 103, and Article 104 of Financial Services Authority Regulation Number 10/POJK.05/2022 regarding Technology-Based Crowdfunding Services (State Gazette of the Republic of Indonesia Year 2022 Number 2/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 2/OJK); g. Article 3, Article 14, Article 25, Article 26, Article 27, Article 28, Article 29, Article 32, and Article 36 of Financial Services Authority Regulation Number 3 of 2023 regarding the Enhancement of Financial Literacy and Inclusion in the Financial Services Sector for Consumers and Community (State Gazette of the Republic of Indonesia Year 2023 Number 5/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 30/OJK), are repealed and declared invalid. (2) In the event that provisions regarding Financial Literacy and Financial Inclusion as referred to in paragraph (1) letter g are referenced by provisions of the respective Regulations, the references are replaced with provisions in this Regulation with the following provisions:
a. Article 3 reference is replaced with Article 11; b. Article 14 reference is replaced with Article 12;
c. Article 25 reference is replaced with Article 13;
d. Article 26 reference is replaced with Article 14; e. Article 27 reference is replaced with Article 15; and f. Article 28 reference is replaced with Article 16. (3) In the event that provisions regarding the Implementation of Consumer and Community Services in the Financial Services Sector by the Financial Services Authority as referred to in paragraph (1) letter d are referenced by provisions of the respective Regulations, the references are replaced with provisions in this Regulation with the following provisions:
a. Article 8 paragraph (2) reference is replaced with Article 95 paragraph (5); b. Article 22 paragraph (1) reference is replaced with Article 96 paragraph (2); and
c. Article 22 paragraph (2) reference is replaced with Article 96 paragraph (4).
(4) In the event that provisions regarding Consumer Complaint Services in the Financial Services Sector as referred to in paragraph (1) letter a are referenced by provisions of the respective Regulations, the references are replaced with provisions in this Regulation with the following provisions:
a. Article 10 reference is replaced with Article 71; b. Article 11 reference is replaced with Article 72;
c. Article 12 reference is replaced with Article 73; and
d. Article 16 reference is replaced with Article 75.

Article 122
(1) Microfinance Institutions must adjust to the provisions of this Financial Services Authority Regulation within a maximum of 3 (three) years from January 12, 2023. (2) For cooperatives conducting activities in the financial services sector, this Financial Services Authority Regulation comes into force on January 12, 2026. (3) Provisions regarding Consumer Protection for Digital Asset Trading Companies come into force on January 12, 2025.

Article 123
(1) The obligation to submit reports on Financial Literacy and Financial Inclusion plans to the Financial Services Authority c.q. the Executive Head of Financial Business Actor Behavior Supervision, Education, and Consumer Protection for Financial Business Actors (PUJK) who have the obligation to prepare and submit business plans, is done no later than November 30, 2024. (2) The obligation to submit reports on the realization of Financial Literacy and Financial Inclusion to the Financial Services Authority c.q. the Executive Head of Financial Business Actor Behavior Supervision, Education, and Consumer Protection for Financial Business Actors (PUJK) who have the obligation to prepare and submit business plan realization reports, is done no later than July 10, 2024. (3) Until the obligation to submit reports comes into force:
a. plan reports as referred to in paragraph (1); and b. realization reports as referred to in paragraph (2), are submitted according to the provisions regulating the reporting of business plans and the reporting of business plan realization for each Financial Business Actor (PUJK).

This copy is consistent with the original
Legal Director 1
Legal Department
Mufli Asmawidjaja

Article 124
(1) The obligation to submit Complaint Services reports semi-annually as referred to in Article 79 paragraph (1) for the first time is done no later than July 10, 2024. (2) Until the obligation to submit Complaint Services reports semi-annually as referred to in paragraph (1) comes into force, Complaint Services reports are submitted quarterly as referred to in Financial Services Authority Regulations regarding Consumer Complaint Services in the financial services sector.

Article 125
This Financial Services Authority Regulation comes into force on the date of enactment.

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

Established in Jakarta on December 20, 2023
CHAIRMAN OF THE COMMISSIONERS BOARD
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,
MAHENDRA SIREGAR

Enacted in Jakarta on December 22, 2023
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,
YASONNA H. LAOLY
STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2023 NUMBER 40/OJK signed

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
OF THE REPUBLIC OF INDONESIA
NUMBER 22 OF 2023
REGARDING
CONSUMER AND COMMUNITY PROTECTION
IN THE FINANCIAL SERVICES SECTOR

I. GENERAL
The issuance of Law Number 4 of 2023 regarding the Development and Strengthening of the Financial Sector (UU P2SK) affirms and strengthens the function of the Financial Services Authority in implementing Consumer and Community Protection. The strengthening of the Financial Services Authority's function is regulated in the Amendment to Article 5 of Law Number 21 of 2011 regarding the Financial Services Authority (UU OJK) as amended by UU P2SK, which states that the Financial Services Authority functions to provide protection to Consumers and the community. In line with this strengthening of function, the Financial Services Authority is granted additional authority, including regulation and supervision of Financial Business Actor (PUJK) Conduct (Market Conduct), as well as the implementation of Financial Inclusion as regulated in Article 226, Article 233, and Article 234 of UU P2SK.

Furthermore, UU P2SK contains regulatory and supervisory authority in the context of Consumer Protection in the Financial Sector, which implies the adjustment of several regulations, including: (1) the inclusion of 7 (seven) Consumer Protection principles; (2) the affirmation and addition of Consumer rights and obligations in the financial services sector, as well as rights, obligations, and prohibitions for PUJK; (3) the addition of the scope of standard clauses prohibited from being included in standard agreements; (4) the affirmation of Consumer data protection and the obligation to ensure information system security and cyber resilience; (5) the implementation of Financial Literacy and Financial Inclusion by PUJK; (6) the obligation to implement Complaint handling; and (7) the procedure for imposing sanctions and fulfillment limits.

The refinement of consumer protection provisions in the financial services sector is necessary to encourage the creation of a reliable Consumer Protection system, enhance Consumer and community empowerment, and foster awareness among Financial Business Actors (PUJK). This refinement is performed to realize a financial system that grows sustainably and stably, and is capable of protecting the interests of Consumers and the community as a response to the increasingly complex and dynamic development of the financial services industry.

From another perspective, to ensure PUJK compliance with Consumer Protection and Community regulations, it is necessary to clarify the Financial Services Authority's authority to conduct supervision of Financial Business Actor (PUJK) Conduct (Market Conduct). Supervision of Financial Business Actor (PUJK) Conduct is expected to maintain and enhance Consumer confidence in PUJK in every activity and business operation in the financial services sector while still providing opportunities and chances for the fair, efficient, and transparent development of PUJK. This differs from prudential supervision, which aims to ensure that the financial services sector has healthy and prudent performance in achieving sustainable and continuously growing business continuity.

Supervision of Financial Business Actor (PUJK) Conduct is carried out by ensuring that PUJK behavior in designing, providing information, disseminating information, marketing, making agreements, and providing services for products and/or services, as well as handling Complaints and resolving Disputes, complies with financial services sector consumer protection provisions. In ensuring this behavior, PUJK must consider Consumer Protection principles, namely adequate education, openness and transparency of product and/or service information, fair treatment and responsible business behavior, asset protection, Consumer privacy and data, effective and efficient handling of Complaints and resolution of Disputes, compliance enforcement, and healthy competition.

With the enactment of UU P2SK and as a response to the development of the financial services sector, Financial Services Authority Regulation Number 6/POJK.07/2022 regarding Consumer and Community Protection in the Financial Services Sector needs to be replaced.

The scope of this Financial Services Authority Regulation includes:
a. provisions on Consumer Protection and Community in the financial services sector; b. scope of Consumer Protection and Community in the financial services sector;
c. infrastructure for Consumer Protection and Community;
d. Consumer rights and obligations; e. PUJK rights, obligations, and prohibitions; f. implementation of Consumer and Community services in the financial services sector by the Financial Services Authority; g. legal defense by the Financial Services Authority for Consumer Protection and Community; h. Supervision of Financial Business Actor (PUJK) Conduct (Market Conduct) by the Financial Services Authority;
i. development by the Financial Services Authority;
j. coordination; and k. imposition of sanctions and submission of objections.

II. ARTICLE BY ARTICLE
Article 1
Sufficiently clear.

Article 2
Letter a
Number 1
Sufficiently clear.
Number 2
The term “People's Economy Bank” refers to People's Economy Banks and Sharia People's Economy Banks in accordance with Laws regarding Banking as amended by laws regarding the development and strengthening of the financial sector. Number 3 The term “Securities Company” refers to entities conducting business activities as underwriters of securities, securities trading brokers, and/or investment managers. Number 4 The term “Pension Fund” refers to Employer Pension Funds and Financial Institution Pension Funds in accordance with laws regarding the development and strengthening of the financial sector. Number 5 Sufficiently clear. Number 6 Sufficiently clear. Number 7 Sufficiently clear. Number 8 Sufficiently clear. Number 9 Sufficiently clear. Number 10 Sufficiently clear. Number 11 Examples of Other Financial Service Institutions that manage mandatory community funds include the implementation of social security, pension, and welfare programs, as referred to in regulations regarding the management of mandatory community funds, such as BPJS Kesehatan, BPJS Ketenagakerjaan, PT Taspen (Persero), BP Tapera, PT Asabri (Persero), and PT Jasa Raharja (Persero). Letter b Examples of entities conducting fund collection, fund disbursement, and fund management activities in the financial services sector, as well as those supervised by the Financial Services Authority based on legislation, include PT Permodalan Nasional Madani and Crowdfunding Service Providers. Letter c The term “financial sector technology innovation” refers to technology-based innovations that impact products, activities, services, and business models within the digital financial ecosystem. Entities implementing financial sector technology innovations in the financial services sector include:
a. securities transaction settlement, including clearing processes, settlement processes, ownership recording, and securities storage in the capital market; b. capital raising, including technology innovations in raising community funds through securities offerings using electronic system providers (securities crowdfunding) and considering relevant legislation, including capital market regulations;
c. investment management, including technology innovations in investment management;
d. risk management, consisting of activities such as technology innovations for product development, claim handling, distribution, and sales; e. fund collection and/or disbursement, including digital banking and technology-based application lending (peer-to-peer lending); f. market supporters, which are technology innovations supporting Financial Institution (LJK) needs, including data collection; g. activities related to digital financial assets, including crypto assets which are financial assets stored or represented digitally; and h. other digital financial service activities.

Article 3
Paragraph (1)
Sufficiently clear.
Paragraph (2)
Letter a
The term “adequate education” is a principle that emphasizes educational values and actions, including the role of PUJK in providing:

understanding of the characteristics, products, and/or services of the financial sector to the community; and
understanding by Consumers regarding products and/or services, benefits, costs, and risks, as well as procedures and mechanisms for Consumer Protection at Financial Service Providers (PUJK) from marketing through to complaint handling.

Letter b
What is meant by "openness and transparency of product and/or service information" is a principle that prioritizes clarity, accuracy, honesty, and non-misleading nature of information regarding products and/or services both before, during, and after the product and/or service is used by Consumers, including explanations regarding potential losses that may arise.

Letter c
What is meant by "fair treatment and responsible business behavior" is a principle that emphasizes fair, non-discriminatory, and responsible actions by PUJK in conducting business while considering Consumer interests, among others:

considering Consumer needs and capabilities before offering products and/or services to Consumers; and
preventing the emergence of conflicts of interest between PUJK and Consumers as the basis for every procedure carried out by PUJK, for example, marketing products and/or services to Consumers does not make achieving sales targets the main goal, but rather prioritizes focusing on the details of product and/or service information conveyed to Consumers, and complaint handling is not carried out by Employees or office leaders of PUJK who have a connection with the Consumer's Complaint.

Letter d
What is meant by "protection of assets, privacy, and Consumer data" is a principle that emphasizes the certainty of having procedures, mechanisms, and systems to provide protection guarantees, maintain the confidentiality and security of financial assets, information systems, and cyber resilience managed by PUJK, Consumer privacy, data and/or information, and use them in accordance with the interests and purposes approved by Consumers and in accordance with applicable legislation.

Letter e
What is meant by "effective and efficient complaint handling and dispute resolution" is a principle that focuses on fulfilling Consumer rights in submitting Complaints and Disputes, among others covering devices, procedures, and mechanisms from receipt to the resolution of Complaints Indicating Disputes by PUJK simply, quickly, and at an affordable cost.

Letter f
What is meant by "enforcement of compliance" is a principle that emphasizes PUJK actions to ensure compliance with Consumer Protection provisions based on applicable legislation in the financial sector. Examples:

establishment of a Consumer Protection function or unit;
PUJK's responsibility for errors and/or negligence that cause losses to Consumers after through a proof process;
responsibility for Consumer losses caused by third parties acting in the interest of PUJK; and
reporting on the implementation of Consumer Protection to the Financial Services Authority (OJK).

Letter g
What is meant by "healthy competition" is competition between PUJK in conducting business activities carried out honestly, not illegally, or not hindering business competition.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 4
Paragraph (1)
What is meant by "good faith" by PUJK:

offering products and/or services by considering the suitability of Consumer needs and capabilities; and
carrying out other activities in accordance with legislation in the financial services sector, including recording activities for marketing products and/or services.

Paragraph (2)
What is meant by "discriminatory" includes differentiation of treatment among fellow citizens based on skin color, group, ethnicity, economy, and religion. What is meant by "discriminatory excluded in legislation and/or agreements" is that not all products and/or services can be used by Consumers in general, but are targeted at specific Consumer targets.

Paragraph (3)
Clearly stated.

Paragraph (4)
What is meant by "norms applicable in society" includes norms of decency and morality.
Examples of physical and/or psychological disturbances:
candidates for Consumers and/or Consumers experiencing pain, falling ill, severe injury, loss of self-confidence, fear, anxiety, loss of ability to act, and fainting/helplessness. Business activities include marketing and debt collection. Examples of actions causing physical and/or psychological disturbances:

PUJK conducting the seizure of collateral goods in public spaces without prior Consumer consent;
PUJK disseminating information regarding Consumer obligations for late payments to telephone contacts owned by the Consumer; and
PUJK using threats and/or violence in marketing products and/or services.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Article 5
Paragraph (1)
What is meant by "party" is an individual, company, joint venture, association, or organized group.
Business activities in the financial sector include:
a. raising funds from the community and/or for distribution to the community; This provision is not intended to cover fund raising outside the financial sector, such as family arisan and fund raising for social purposes.

b. issuance of securities offered to the community; Does not include capital increases without pre-emptive rights (private placement) and venture capital.

c. provision of payment system products or services; and
d. other activities that can be equated with fund raising, fund distribution, fund management, intermediation in the financial sector, and provision of payment system products or services. Example of prohibited: PUJK approving applications for the use of products and/or services from parties conducting illegal online lending business. What is meant by "competent authority" is Bank Indonesia.

Paragraph (2)
Example of prohibited: PUJK having cooperation with illegal online lending companies.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Examples of parties in the licensing process include parties currently in a testing room/innovation development facility (sandbox).

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 6
Examples of bad faith by Consumers:

Consumers providing information and/or documents that are unclear, inaccurate, wrong, and misleading;
Consumers refusing to fulfill obligations as stated in the agreement and using threats or violence;
Consumers transferring goods that serve as collateral for credit or financing products without PUJK approval; and
Consumers handing over collateral derived from criminal acts.

Article 7
Paragraph (1)
Clearly stated.

Paragraph (2)
What is meant by "accurate information and/or documents" is information and/or documents conveyed precisely and completely that can be accounted for.

Paragraph (3)
Letter a
Examples of reviewing the suitability of documents containing information about candidates for Consumers and/or Consumers with actual facts include matching the suitability of the Consumer's residence with data on the Consumer's identity, conducting adequate surveys, and interviewing Consumers to investigate and confirm the truthfulness of information contained in documents submitted by Consumers.

Letter b
Clearly stated.

Letter c
Number 1
Examples of agreements between Consumers and PUJK:

agreement on fulfillment of the contract; and
agreement on the resolution of Complaints and Disputes.

Number 2
Clearly stated.

Paragraph (4)
Clearly stated.

Article 8
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Written Consumer Protection policies and procedures can consist of 1 (one) unified document or several separate documents.

Letter a
Clearly stated.

Letter b
Clearly stated.

Letter c
Clearly stated.

Letter d
Clearly stated.

Letter e
Clearly stated.

Letter f
Mechanisms for the use and deletion of Consumer data and/or information, including mechanisms for withdrawing consent and/or changing part of the consent to provide Consumer data and/or information.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 9
Paragraph (1)
Letter a
Clearly stated.

Letter b
Examples of abusing authority, opportunity, or means available due to position or status include:

including authority in written Consumer Protection procedures to provide or trade Consumer data and/or information without Consumer consent to other parties; and
using violence in collecting Consumer debts.

Paragraph (2)
The Consumer Protection and community code of ethics can become part of the PUJK's general code of ethics.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 10
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Examples of forms of responsibility for Consumer losses include compensation.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 11
Paragraph (1)
Activities to increase Financial Literacy are carried out by PUJK not as an effort to increase the sales capacity of PUJK products and/or services.

Paragraph (2)
Clearly stated.

Paragraph (3)
Forms of documentation of activity implementation include printed copies and/or digital copies in the form of photos and/or videos.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 12
Clearly stated.

Article 13
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
The realization report for Financial Literacy has the same report components as the plan report, accompanied by an evaluation and documentation of the activity implementation.

Paragraph (4)
The realization report for Financial Inclusion has the same report components as the plan report, accompanied by an evaluation and documentation of the activity implementation.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 14
Paragraph (1)
Clearly stated.

Paragraph (2)
What is meant by "holiday" is a national holiday, joint leave established by the central government, and/or local holidays established by the local government.

Paragraph (3)
What is meant by "day" is a calendar day.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Article 15
Paragraph (1)
What is meant by "semi-annual" is the position at the end of June and December.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Article 16
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
See explanation of Article 14 paragraph (3).

Paragraph (4)
See explanation of Article 14 paragraph (3).

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Paragraph (12)
Clearly stated.

Paragraph (13)
Clearly stated.

Paragraph (14)
Clearly stated.

Article 17
Paragraph (1)
Clearly stated.

Paragraph (2)
The Financial Services Authority (OJK) declares information that the electronic reporting system cannot be accessed due to disruption through:
a. the electronic reporting system; b. email to PUJK; or
c. letter to PUJK.
What is meant by "disruption" is a condition that causes PUJK to be unable to submit reports online, among others caused by disruption of data communication networks, power outages, and repairs to the OJK system.

Paragraph (3)
Submission of reports offline is done by:
a. direct handover; or b. sending via a courier service company.
Submission of reports online is done by sending to the email address (e-mail) established by the Financial Services Authority (OJK), accompanied by a digital copy or scan of the cover letter signed by one of the Board of Directors members.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 18
Clearly stated.

Article 19
Paragraph (1)
Clearly stated.

Paragraph (2)
Letter a
Number 1
Clearly stated.

Number 2
Clearly stated.

Number 3
Clearly stated.

Number 4
Clearly stated.

Number 5
Clearly stated.

Number 6
Clearly stated.

Number 7
What is meant by "other data submitted or given access by Consumers to PUJK" includes photos.

Number 8
Examples of other data in accordance with applicable legislation:

health data and information, which are records or descriptions of individuals related to physical health, mental health, and/or health services;
personal financial data, including but not limited to data on the amount of deposits in banks including savings, certificates of deposit, and credit card data;
criminal records, which are written records about a person who has committed illegal acts or violated the law or is in the process of legal proceedings for acts committed, among others police records and inclusion in prevention or caution lists;
children's data; and
genetic data, which is all data of any kind regarding characteristics of an individual that are inherited or obtained during early prenatal development.

Letter b
Number 1
Clearly stated.

Number 2
Clearly stated.

Number 3
Clearly stated.

Number 4
Clearly stated.

Number 5
Examples of other data: company email addresses, company Taxpayer Identification Numbers (NPWP), company Internet Protocol (IP) addresses, company assets and employee data, and beneficial owners.

Paragraph (3)
What is meant by "processing" includes acquisition and collection, processing and analysis, storage, correction and updating, display, announcement, transfer, dissemination, or disclosure, and/or deletion or destruction.

Paragraph (4)
Examples of other parties: data management companies.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Article 20
Paragraph (1)
Examples of other parties: parties outside PUJK who initiate the exchange of Consumer data and/or information.
Examples of considering applicable legislation regarding personal data protection stating that personal data controllers are required to have a basis for processing personal data, so PUJK is also required to have a basis for processing personal data. Examples of legislation established by the Financial Services Authority (OJK): Financial Services Authority Regulation regarding the implementation of information technology by commercial banks.

Paragraph (2)
Examples of integrated data management infrastructure facilitated by the Financial Services Authority (OJK): the financial information service system known as SLIK.

Paragraph (3)
Clearly stated.

Article 21
Paragraph (1)
What is meant by "transfer" is the movement, sending, and/or duplication of personal data either electronically or non-electronically from PUJK to other parties.

Paragraph (2)
Clearly stated.

Paragraph (3)
Letter a
Clearly stated.

Letter b
Clearly stated.

Letter c
Other adequate and binding data protection instruments established by the Financial Services Authority (OJK) include data protection contract clause standards established by the Financial Services Authority (OJK).

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 22
Clearly stated.

Article 23
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Examples of other parties: data management companies and parties outside PUJK.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 24
Paragraph (1)
What is meant by "information system" is a reliable information system that can provide accurate services by ensuring authorized input, process, and output information, carried out safely, correctly, and completely. Information system security includes among others the availability of written policies and procedures for information systems, the use of safe and reliable systems, including security and protection of data confidentiality, fraud management, fulfillment of certification and/or system security and reliability standards, maintenance and improvement of technology security, implementation of cyber security standards, security of data and/or information, and regular information system audits.

What is meant by "cyber resilience" is the ability of PUJK to continue its business by taking anticipatory, adaptive, and proactive actions against cyber threats. Examples of information system security and cyber resilience: data security and customer asset security.

Paragraph (2)
Clearly stated.

Paragraph (3)
Letter a
In the asset, threat, and vulnerability identification process, PUJK carries out among others applying asset management through inventory and assessment of information technology assets, among others hardware, software, networks, and infrastructure, as well as effective configuration recording, inventory of assets in the form of Consumer data and/or information, identifying vulnerabilities and monitoring recent cyber developments to identify cyber threats and conducting regular cyber security testing.

Letter b
In the asset protection process, PUJK carries out among others applying comprehensive security controls in accordance with the results of asset, threat, and vulnerability identification.

Letter c
In the cyber incident detection process, among others PUJK ensures the availability of baseline performance documentation for critical PUJK functions and support systems, so that every deviation can be detected in a timely manner and anomalous activities and events can be flagged for follow-up.

Letter d
In the cyber incident response and recovery process, among others:

PUJK establishes a cyber incident response and recovery plan to ensure timely response and service restoration in accordance with the risks posed, with minimal impact; and
establishing roles, duties, and responsibilities of the cyber incident response team to ensure that cyber incident response and recovery are carried out with minimal impact on PUJK services and operations.

Paragraph (4)
What is meant by "adequate cyber resilience information system" is an information system that can support the entire process in maintaining cyber resilience, in accordance with the size and complexity of PUJK's business.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 25
Paragraph (1)
What is meant by "target Consumer" is candidates for Consumers and/or Consumers who are the targets of PUJK in designing and testing products and/or services.

Paragraph (2)
Letter a
The needs and capabilities of target Consumers are known by considering among others the background and occupation of target Consumers.
Examples:
The needs and capabilities of policyholders, insured parties, or participants regarding PAYDI include at least:
a. needs for types of insurance benefits, sum insured, and duration of coverage or participation chosen; b. ability to pay premiums or contributions and incur costs, including the period for premium or contribution payments and the imposition of costs.

Letter b
Examples:
suitability of features, risks, and costs with target Consumers includes among others the suitability of product and/or service pricing with the needs and capabilities of target Consumers.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 26
Paragraph (1)
Testing of new products and/or services is carried out on products and/or services that:
a. are offered by PUJK for the first time; and b. are developments of existing products and/or services that result in material changes to the products and/or services, among others selling products and/or services to new target Consumers. Testing can be carried out among others through surveys, marketing research, limited trials, and/or testing or innovation development (sandbox) on the products and/or services in question. Limited trials for licensing of products and/or services are carried out with reference to applicable legislation in the financial services sector.

Paragraph (2)
Potential losses for candidates for Consumers and/or Consumers do not include risks inherent in the products and/or services.
Examples:
Risks inherent in products and/or services are risks of value decline arising from market conditions.
Aspects evaluated in testing include among others:

the purpose of the products and/or services;
transparency of product and/or service information;
suitability of product and/or service marketing with the needs and capabilities of target Consumers; and
suitability of standard contract drafting with applicable legislation.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 27
Letter a
What is meant by "authority" is Bank Indonesia and the Financial Services Authority (OJK).

Letter b
Clearly stated.

Article 28
Paragraph (1)
Guidelines for setting values/prices and/or costs of products and/or services include among others costs incurred to produce products and/or services, expected profits, offer prices of products and/or services to Consumers, and penalty costs or costs in the form of sanctions.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 29
Paragraph (1)
Information regarding products and/or services includes among others:
a. benefits that can be obtained; b. costs that must be paid;
c. risks that may have to be borne;
d. rights that can be obtained; e. obligations that must be fulfilled; f. requirements and procedures that must be fulfilled; and g. types of agreements that can be agreed upon. Examples of risks that may have to be borne: risks of losses to:
a. customer transactions conducted through banks such as foreign exchange transactions which may risk a decrease in foreign exchange value; b. decline in the price of purchased stocks (capital loss); and
c. decline in the value of chosen PAYDI investments.
The form of information provided by PUJK is documented in documents or other electronic media such as product and/or service information summaries, leaflets, brochures, and advertisements.

Paragraph (2)
Clearly stated.

Paragraph (3)
The phrase "clearly readable" also includes the placement of letters, writing, symbols, diagrams, and signs that are not difficult to see or read.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
The phrase "foreign language" refers to languages other than Indonesian and regional languages.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Article 30

Paragraph (1)
Summaries of product and/or service information are made in writing in printed and/or electronic form.

Letter a
Number 1
The phrase "name of product and/or service" refers to the term used by the Financial Services Institution (PUJK) to describe the product and/or service.

The phrase "type of product and/or service" refers to the classification used to group products and/or services used by the PUJK according to their type and characteristics.

Number 2
The phrase "name of issuer" refers to the name of the PUJK that has issued the product and/or service.

Number 3
The phrase "main features" refers to data explaining the characteristics of the product and/or service.

Number 4
The phrase "benefits" refers to something advantageous obtained from purchasing a product and/or utilizing a service, including methods, provision of benefits, and methods of calculating benefits in the form of interest or profit-sharing.

Number 5
The phrase "risk" refers to negative impacts that can cause losses due to a process currently underway or an upcoming event occurring in the ownership, use, and/or utilization of the product and/or service.

Number 6
The phrase "requirements and procedures" refers to the mechanisms and/or procedures that prospective Consumers and/or Consumers must fulfill when using, purchasing, or utilizing the product and/or service.

Information that must be fulfilled includes:
a. documents that prospective Consumers and/or Consumers must prepare, including the obligation of prospective Consumers and/or Consumers to provide information and/or data according to actual conditions and the consequences if prospective Consumers and/or Consumers do not provide the actual information and/or data; and b. procedures that can be taken in the event of a Complaint regarding the purchase of a product and/or utilization of a service.

Number 7
The phrase "costs" refers to all financial charges to Consumers, including administrative costs, opening costs, interest costs, insurance costs, commission or brokerage fees, fines, penalties, early settlement costs, collateral takeover or seizure costs and/or collateral sale costs, and acquisition costs on PAYDI.

Types of costs that cannot be determined in advance are provided with an estimation description or the basis for the estimation used, along with an explanation.

Number 8
The phrase "additional information" refers to information that can be provided in addition to the above information, but is still relevant to the purpose of the summary of product and/or service information.

Additional information includes:
a. the mechanism for submitting insurance benefit claims when the policyholder dies, in insurance products; and b. the mechanism for credit settlement in the event that insurance benefits cannot be claimed, in credit or financing products.

Letter b
The phrase "simulation/illustration" refers to a prototype based on the characteristics of the product and/or service and the conditions affecting it, using specific calculations. The simulations provided can use several calculation scenarios, namely best-case calculations, standard calculations, and worst-case calculations.

In addition, past performance can be disclosed.
The phrase "historical data/performance realization" refers to a description of annual historical performance over a minimum period of the last 5 (five) years or the actual period since formation for products and/or services less than 5 (five) years.

Example:
Simulation and/or historical data in products and/or services:

Deposits
PUJK provides simulation calculations for deposit products, including the amount of money to be deposited, the term, interest rates, taxes, and calculation results.
Life Insurance
PUJK provides simulation calculations for life insurance, including benefits received and premium amounts paid up to the coverage term.
Mutual Fund Products
PUJK provides historical data, including the movement of net asset value or units over the past 5 (five) years, historical performance of mutual funds for periods of 1 (one) month, 3 (three) months, year-to-date, 1 (one) year, and annual performance for periods of 3 (three) years, 5 (five) years, and since inception, presented in graphical form over a minimum period of the last 5 (five) years.

Paragraph (2)
The phrase "summary of product and/or service information" refers to a document or other medium containing characteristics and important or main information regarding the product and/or service.

The phrase "general version of the summary of product and/or service information" refers to a summary of product and/or service information that is not individual or personal and is prepared for all prospective Consumers and/or Consumers in printed or electronic form.

The phrase "personal version of the summary of product and/or service information" refers to a summary of product and/or service information that is specific and specifically prepared for certain prospective Consumers and/or Consumers in printed or electronic form.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 31

Letter a
Examples of government or authority programs: rice farming business insurance, cattle farming business insurance, Student Savings products known as SimPel, Student and Youth Savings known as SiMuda, and the Officeless Financial Services Program in the Context of Financial Inclusion known as Laku Pandai.

Letter b
Examples of products and/or services used repeatedly:

Consumer A, who already has a home ownership credit product at General Bank X, applies for an increase in the credit limit or home ownership credit at General Bank X.
Consumer A tops up premiums, renews the same insurance product.

Article 32

Paragraph (1)
Examples of providing information regarding products and/or services that is clear, accurate, honest, easily accessible, and not potentially misleading in accordance with applicable laws and/or agreements:
A PUJK providing PAYDI provides information that the marketed PAYDI is an insurance product and not a deposit/savings product.

Paragraph (2)
Letter a
Clearly stated.

Letter b
The phrase "before signing the agreement" also includes confirmation of approval or authorization from the Consumer.
Signing can be done through electronic media or in the form of wet signatures. The agreement referred to includes the contract (akad).

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 33

Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Examples of products and/or services that are collective: group insurance and employer pension funds.
The phrase "prospective Consumer" refers to prospective insured persons, prospective participants, or prospective policyholders.

Paragraph (4)
Clearly stated.

Paragraph (5)
Letter a
Clearly stated.

Letter b
The delivery of the summary of product and/or service information via electronic media is in the form of applications, devices, digital delivery media/tools, or web-based sites.

Letter c
The phrase "prospective Consumer's personal communication medium" refers to personal communication media, including telephones, mobile phones, electronic mail, short message service, voicemail, video calls, and instant messaging applications.

Paragraph (6)
The phrase "reference for PUJK products" refers to a PUJK acting as a referrer or recommending another PUJK product and/or service as a requirement to obtain a product from the PUJK in question to the prospective Consumer.

The delivery and explanation of the summary of product and/or service information for the PUJK product reference business model is done with reference to regulations in the financial services sector. Example:
Home ownership credit accompanied by an offer for fire insurance on the house and life insurance for the Consumer.

Paragraph (7)
Confirmation is done by asking questions regarding the prospective Consumer's understanding.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Paragraph (12)
Clearly stated.

Article 34

Paragraph (1)
Clearly stated.

Paragraph (2)
Examples of exceptions as otherwise regulated by applicable laws:
Prospective depositors who, after due diligence, are indicated to be involved in money laundering criminal acts in accordance with Law Number 8 of 2010 concerning the Prevention and Eradication of Money Laundering Criminal Acts and/or involved in terrorism financing criminal acts in accordance with Law Number 9 of 2013 concerning the Prevention and Eradication of Terrorism Financing Criminal Acts, the PUJK is not required to provide reasons for rejection.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 35
Clearly stated.

Article 36

Paragraph (1)
Examples of abusing the situation or condition of prospective Consumers and/or the community in the context of offering products and/or services: a prospective Consumer needs money to finance hospital treatment and at the same time, the PUJK offers credit or financing without considering the prospective Consumer's ability to pay.

Paragraph (2)
Examples of products and/or services without permits: products and/or services that are in the process of obtaining permits from the Financial Services Authority (OJK).

Paragraph (3)
The offer of crypto asset products to the community is conducted through the official media of Crypto Asset Trading Businesses, including sites, applications, and/or social media managed officially by the Crypto Asset Trading Business.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 37

Paragraph (1)
Examples of considering the suitability between the prospective Consumer's needs and ability with the products and/or services offered to the prospective Consumer:
a. the provision of home ownership credit requires suitability with the Consumer's ability to pay installments and the existence of the Consumer's need for home ownership; b. the provision of time deposits considering the Consumer's ability to deposit funds and the existence of Consumer needs, such as for children's education; and
c. the provision of health insurance products suitable for the health conditions of the policyholder or insured person.

Paragraph (2)
Letter a
Examples of prospective Consumer background: education, age, family status, and special needs owned.

Letter b
Examples of prospective Consumer employment: type of job and employment status.

Letter c
Examples of prospective Consumer finances: income and/or expenses.

Letter d
Examples of the purpose and intent of using products and/or services from the PUJK: working capital, investment, and for education funds.

Letter e
Examples of other information used to determine the classification of prospective Consumers: health history.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 38

Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Examples of being responsible for products and/or services chosen by the Consumer: cooperation in marketing insurance products through bancassurance. The Insurance Company is responsible for the risks of the insurance products offered by the General Bank, and the General Bank is responsible for the risks of the banking products issued.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 39

Paragraph (1)
Approval from prospective Consumers and/or Consumers is obtained before the PUJK contacts the prospective Consumer and/or Consumer or before offering products and/or services through personal communication media.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Examples of other parties: data management companies and parties outside the PUJK.

Paragraph (5)
The phrase "voice and/or video recording" refers to recording activities conducted in all processes of offering products and/or services using at least electronic devices capable of recording voice and/or video. Personal communication media of prospective Consumers and/or Consumers using voice and/or video include telephones, mobile phones, and video calls.

Paragraph (6)
Clearly stated.

Paragraph (7)
The phrase "approving the offer" means that prospective Consumers and/or Consumers decide to use the products and/or services offered by the PUJK.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Paragraph (12)
Clearly stated.

Article 40

Paragraph (1)
The phrase "conflict of interest in offering to prospective Consumers and/or Consumers" refers to a conflict situation between the economic interests of the PUJK, or the personal interests of the Board of Directors, Board of Commissioners, Employees, and/or third parties working for or representing the PUJK, with the interests of Consumers in obtaining the product during the offering process.

Examples of disclosing information related to conflicts of interest: disclosure of the existence of commissions for Employees or third parties working for or representing the PUJK attached to the product and/or service and/or charged to the Consumer.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Article 41

Paragraph (1)
Information transparency is provided to policyholders, insured persons, or participants both before and after the PAYDI insurance policy is issued.

Paragraph (2)
Explanations regarding benefits also include potential investment returns and investment risks.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 42
Clearly stated.

Article 43
Clearly stated.

Article 44

Paragraph (1)
Clearly stated.

Paragraph (2)
Written agreements include agreements in electronic form.

Paragraph (3)
Examples of abusing the situation of prospective Consumers and/or Consumers in the context of drafting agreements: prospective Consumers and/or Consumers have very urgent needs and therefore require credit from a General Bank. This situation is exploited by the General Bank by adding agreement requirements that are not in line with the ability of the prospective Consumers and/or Consumers.

Paragraph (4)
Letter a
The phrase "costs" refers to all financial charges to Consumers, including administrative costs, opening costs, interest costs, insurance costs, commission fees, fines, penalties, early settlement costs, collateral takeover or seizure costs and/or collateral sale costs, and acquisition costs on PAYDI. Types of costs that cannot be determined in advance are provided with an estimation description or the basis for the estimation used, along with an explanation.

Letter b
Example:
Commissions paid to insurance company agents and becoming part of the premiums covered by Consumers in PAYDI products.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Article 45

Paragraph (1)
The phrase "rights and obligations" includes:

the Complaint Service mechanism;
Consumers receive information regarding dispute resolution efforts that can be conducted through courts or out of court;
the Consumer's right to terminate the agreement without being subject to penalties or costs in the form of sanctions if within the cooling-off period;
the obligation to pay early settlement penalties;
the obligation to pay administrative costs;
the obligation to pay installments on time; and
receiving reports on the position of deposits, loans, or Consumer funds.

Example:

for PAYDI, PAYDI Consumers are given an understanding of costs, benefits, rights and obligations, and risks related to PAYDI and the sub-funds chosen by the Consumer; and
for credit and/or financing products, Consumers are given an understanding of the credit settlement mechanism in the event that insurance benefits cannot be claimed.

Paragraph (2)
The provision of sufficient time is adjusted to the policies of each PUJK and the characteristics of the products and/or services.

Paragraph (3)
Confirmation is done by asking questions regarding the prospective Consumer's understanding of the agreement clauses, including details of costs, benefits, risks, as well as rights and obligations.

Paragraph (4)
Examples of documents or other media that can be used as evidence:

written confirmation of the prospective Consumer's understanding that can be written in a single agreement document or other media; or
recordings,
as regulated in applicable laws and regulations.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 46

Paragraph (1)
Written agreements include agreements in electronic form.
The phrase "standard form contract" refers to a contract between the PUJK and the Consumer whose content is designed, formulated, established, duplicated, and offered unilaterally by the PUJK to be agreed upon together with the Consumer.

Paragraph (2)
The phrase "exculpatory/exemption clause" refers to a clause whose content adds rights and/or reduces the obligations of the PUJK, or reduces rights and/or adds obligations of the Consumer.

Letter a
Clauses transferring the responsibility or obligations of the PUJK to the Consumer include among others the Consumer releasing the PUJK from responsibility and/or providing compensation in any form that may arise from complaints, or lawsuits filed by the Consumer or their representative. This standard clause transfers responsibility that is legally the responsibility of the business actor to the responsibility of the Consumer through the agreement.

Letter b
Clearly stated.

Letter c
Clearly stated.

Letter d
The phrase "granting the PUJK the right to reduce the usefulness of the product and/or service or reduce the Consumer's assets that are the object of the product and service agreement" includes among others the PUJK changing the value of insurance coverage (coverage).

Letter e
The grant of power of attorney by the Consumer to the PUJK is made separately from the standard form contract and follows applicable laws and regulations.

Letter f
Unilaterally adding, changing, and/or providing subsequent rules after the agreement is approved/agreed upon, including those resulting in the emergence of new rules.

Letter g
Clearly stated.

Letter h
Clearly stated.

Letter i
Clearly stated.

Letter j
Clearly stated.

Letter k
Clearly stated.

Letter l
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 47
Clearly stated.

Article 48

Paragraph (1)
Clearly stated.

Paragraph (2)
PAYDI agreements are in the form of insurance policies.

Letter a
Clearly stated.

Letter b
Clearly stated.

Letter c
Clearly stated.

Letter d
Clearly stated.

Letter e
Clearly stated.

Letter f
Clearly stated.

Letter g
Clearly stated.

Letter h
Clearly stated.

Letter i
Example of "additional features": loyalty bonuses, premium bonuses or top-up contributions, and refunds of administrative costs when certain criteria or conditions stated in the insurance policy are met.

Letter j
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 49

Paragraph (1)
Clearly stated.

Paragraph (2)
Examples of notifications to Consumers: announcements through the PUJK website, electronic mail, and direct letters to the Consumer.

Paragraph (3)
Clearly stated.

Paragraph (4)
Letter a
Examples set by the government or authorities: insurance premiums for the agricultural sector set by the government.

Letter b
Clearly stated.

Letter c
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Article 50

Paragraph (1)
Letter a
Clearly stated.

Letter b
The phrase "confirming Consumer approval or rejection" means that the change is personally confirmed to the Consumer to obtain approval from the Consumer.

Letter c
Examples of other media that can be used as evidence:

recorded telephones, mobile phones, or video calls; and/or
electronic mail delivered to the Consumer.

Paragraph (2)
Clearly stated.

Paragraph (3)
Letter a
Examples set by the government or authorities include the interest rate for People's Business Credit set by the government.

Letter b
Examples of reference for setting obligations: the base interest rate set by the authority.

Letter c
Example:
Regarding corporate credit, the setting of obligations, benefits, and rights is done through a negotiation process.

Paragraph (4)
Clearly stated.

Paragraph (5)
Consumers must still fulfill their obligations first as stated in the agreement before terminating the use of the product and/or service.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Article 51

Paragraph (1)
The cooling-off period is given by the PUJK to the Consumers to re-study the agreement document to either continue or cancel the agreement.

Letter a
The phrase "products and/or services with a long term" refers to products and/or services with an agreed term of more than 1 (one) year, including long-term life insurance and pension funds.

Letter b
The phrase "products and/or services that are complex" can include:

derivative products that have more than 1 (one) underlying asset and have maturity, strike price, and/or more complex payment processes, which are not simple or standard (plain vanilla) in accordance with regulations in the financial services sector;
products that combine at least 2 (two) financial products such as PAYDI; or
products and/or services resulting from cooperation activities with the product integration business model.

Paragraph (2)
Examples of approving agreements: agreement approval through telemarketing methods, approval through electronic media (sites, telephones, applications), or signing the agreement.

Paragraph (3)
Regulations applicable to each product and/or service include the mechanism and time frame for providing the cooling-off period.

Paragraph (4)
Confirmation efforts (welcoming calls) are conducted through telephone calls, video calls, and/or direct physical meetings with policyholders, insured persons, and/or participants.

Paragraph (5)
Documentation can be in the form of voice recordings, video recordings, and/or written confirmation.

Paragraph (6)
Clearly stated.

Paragraph (7)
Letter a
Examples of government or authority programs: subsidized fisherman insurance and People's Business Credit with installment terms of more than 1 (one) year.

Letter b
Examples of products and/or services used repeatedly by Consumers:

Consumer A applies for Pension Fund X product at PUJK B, then stops using the service and after a certain period, Consumer A applies for Pension Fund X product

return to the FSI B that has the same features and benefits; or
2. Consumer A purchases an insurance product renewal.

Letter c
The examples are collective in nature, not based on personal choice and initiative, and are facilities obtained by Consumers: group employee health insurance and employer pension funds.

Letter d
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Paragraph (12)
Clearly stated.

Paragraph (13)
Clearly stated.

Article 52
Paragraph (1)
Regulatory provisions include, among others, the Civil Code, and for the transfer of Shariah products, attention must be paid to fulfilling Shariah principles. Examples of other parties: parties outside the FSI.

Paragraph (2)
Letter a
Clearly stated.

Letter b
Notification to the Consumer is conducted through correspondence facilities agreed upon between the Consumer and the FSI. Notification to the Consumer includes informing the value of the transferred claim rights.

Paragraph (3)
What is meant by "does not cause loss to the Consumer" is that the transfer of claim rights to other parties does not result in additional costs, changes in benefits, risks, rights, and obligations that contradict the terms and conditions regulated in the credit or financing agreement with the FSI.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 53
Paragraph (1)
Clearly stated.

Paragraph (2)
Examples:
In descriptions, advertisements, and/or promotions stating "no administrative fee" while the FSI provides products and/or services with an administrative fee.

Paragraph (3)
Examples:
The FSI pays product and/or service benefits to the Consumer in accordance with regulatory provisions and/or agreements.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 54
Paragraph (1)
Examples of FSIs providing information services for Consumers:

providing Employees who are able to understand and know information regarding regulations, policies, products, and/or services of the FSI;
providing Employees who have skills oriented towards Consumer service (service-oriented skills); or
ensuring information services that can be easily accessed by Consumers.
Information services can be part of the Consumer Protection function or unit.

Paragraph (2)
What is meant by "equal access for every Consumer according to Consumer classification" is the provision of equal access to use products and/or services for Consumers who have the same classification.

Paragraph (3)
Special services for Consumers with disabilities and the elderly include, among others:
a. providing forms using Braille; b. service providers providing application features that consider disabilities;
c. providing ramps;
d. priority queues for Consumers with disabilities and the elderly; e. providing trained Employees to serve Consumers with disabilities and the elderly; f. having ATMs specifically for Consumers with disabilities; or g. providing information media that considers Consumers with disabilities, facilitating Consumers with disabilities and the elderly to obtain products and/or services.

What is meant by "Consumer with disabilities" is every person who experiences long-term physical, intellectual, mental, and/or sensory limitations that, in interaction with the environment, can experience obstacles and difficulties in participating fully and effectively with other citizens based on equal rights, as regulated in regulatory provisions regarding Consumers with disabilities.

What is meant by "elderly" is a person aged 60 (sixty) years or older.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 55
Paragraph (1)
What is meant by maintaining the security of Consumer savings, funds, or assets is an FSI effort, among others, to ensure the occurrence of no actions:
a. fraud, deception, embezzlement of savings, funds, or assets, information leaks, and criminal acts in the financial services sector; or b. misconduct (non-compliance with applicable norms).

Paragraph (2)
Clearly stated.

Article 56
Paragraph (1)
Letter a
Examples of proof of ownership of products and/or utilization of services include, among others, insurance policies, deposit receipts, mutual fund confirmation letters, copies of credit agreements, or copies of financing agreements, which can be in electronic form.

Letter b
Clearly stated.

Letter c
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Article 57
Clearly stated.

Article 58
Paragraph (1)
Examples of Consumer instructions include, among others, powers of attorney for fund deductions for mutual fund investments according to Consumer approval, requests for fund transfers, buying or selling stocks according to Consumer instructions.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Article 59
What is meant by "adequate capacity" is the understanding of the complexity of products and/or services and Consumer classification.

Article 60
Paragraph (1)
What is meant by "default" is the Consumer's inability to fulfill obligations as stated in the FSI agreement.

What is meant by "debt collection" is all efforts made by the FSI to obtain its rights over the Consumer's obligation to pay installments, including taking over or withdrawing collateral in the event of Consumer default.

Warning letters can be delivered physically or digitally through electronic systems or personal communication facilities registered in the electronic system used by the FSI.

Warning letters include, among others, notifications via official digital applications.

Paragraph (2)
Letter a
Clearly stated.

Letter b
Clearly stated.

Letter c
Outstanding principal due includes the final position of total financing or funding that has not been paid off or the principal due.

Letter d
What is meant by "economic benefit" is the rate of return, including, among others, interest, interest due, profit sharing, ujrah, nisbah, margin, and/or Shariah financing service fees due.

Letter e
What is meant by "penalties due and/or damages due" in Shariah financing are penalties (ta'zir) and damages (ta'widh).

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 61
Paragraph (1)
Examples of other parties: debt collection service companies and parties outside the FSI.

Paragraph (2)
Stamped includes stamps in electronic form, or other forms that have characteristics and contain security elements issued by the Government of the Republic of Indonesia used to pay taxes on documents as regulated in regulatory provisions regarding stamp duties.

Paragraph (3)
Clearly stated.

Paragraph (4)
Affiliation between Technology-Based Collective Financing Service Providers or fund providers that are companies with other parties carrying out debt collection functions if there are:

family relationships due to marriage or descent up to the second degree, both horizontally and vertically, with Employees, Board of Directors members, Board of Commissioners members, Shariah Supervisory Board members, and/or shareholders of the company;
relationships with companies due to the existence of one or more Board of Directors or Board of Commissioners members;
control relationships with the company, both directly and indirectly;
share ownership relationships in the company of 20% (twenty percent) or more; and/or
relationships between 2 (two) companies controlled, both directly and indirectly, by the same party.

Affiliation between fund providers that are individuals with other parties carrying out debt collection functions if there are:

family relationships due to marriage or descent up to the second degree, both horizontally and vertically, with Employees, Board of Directors members, Board of Commissioners members, and/or shareholders of the company with:
a. fund providers; and b. Employees employed directly by the fund provider.
parties other than number 1 acting on behalf of the fund provider.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Article 62
Paragraph (1)
Clearly stated.

Paragraph (2)
Letter a
Humiliating includes, among others:

seizure of collateral in public areas; and/or
disseminating information regarding the Consumer's late obligation to contact phones owned by the Consumer;

Letter b
Clearly stated.

Letter c
Clearly stated.

Letter d
What is meant by "continuously" is done more than 3 (three) times in 1 (one) day.

Letter e
Clearly stated.

Letter f
Clearly stated.

Letter g
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 63
Paragraph (1)
What is meant by "collateral" is collateral as regulated in regulatory provisions. Taking over or withdrawing collateral is the execution of collateral as regulated in regulatory provisions.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 64
Paragraph (1)
Clearly stated.

Paragraph (2)
Letter a
Written agreement of the parties containing:

a statement containing that the Consumer has defaulted; and
a statement of voluntary surrender of collateral by the Consumer.

Letter b
Court decision or Financial Services Dispute Settlement Agency (LAPS) decision stating that default has occurred.

Letter c
Clearly stated.

Paragraph (3)
Examples of regulatory provisions related to collateral: laws regarding land mortgages and laws regarding fiduciary rights.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 65
Paragraph (1)
Letter a
Sale of collateral through public auction can be conducted, among others, through:
a. public sale; and b. sale through auction office intermediation.

Letter b
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 66
Paragraph (1)
Explanation to the Consumer regarding the process and results of the sale includes, among others, all costs arising from the sale of collateral, shortage or surplus of the sale results after deducting the Consumer's obligations as stated in the agreement.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 67
Clearly stated.

Article 68
Paragraph (1)
The complaint handling mechanism is a written procedure as regulated in regulatory provisions regarding Consumer Complaint Services in the financial services sector.

Paragraph (2)
Examples of agreements and/or documents for utilizing products and/or services: policies, savings books, credit agreements, participant cards, and/or terms and conditions of financial products and/or services.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 69
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Complaint reception services can be facilitated through media including, among others, telephone, email, automated answering machines, and written documents.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 70
Paragraph (1)
Clearly stated.

Paragraph (2)
Oral complaints include, among others, via telephone, and/or short message services (SMS).
Written complaints include, among others, via letters, electronic mail (email), facsimile, FSI websites, and/or electronic media officially managed by the FSI that can be used to submit Complaint documents.

Complaints received by the FSI from walk-in Consumers are categorized as written complaints.

Paragraph (3)
What is meant by "office" is an office conducting service and operational activities for Consumers.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 71
Paragraph (1)
Required documents are stated in the Complaint Service procedure, agreements, and/or documents for utilizing products and/or services.

Paragraph (2)
Letter a
Consumer identity includes, among others:

Consumer's full name;
residential address according to the Consumer's identity document and other residential addresses, if any; and
Consumer's reachable phone number.

Examples of Consumer identity can include valid Identity Cards, Driver's Licenses, or passports, including family cards and birth certificates for Consumers under 17 (seventeen) years of age.

Letter b
Clearly stated.

Letter c
Clearly stated.

Letter d
Examples of other documents include special powers of attorney if the Consumer delegates the complaint process to a Consumer representative.

Paragraph (3)
Supporting documents that must be completed by the Consumer are documents directly owned and/or obtainable by the Consumer.

Examples of supporting documents directly related to the complained issue: deposit slips, transfer proofs, insurance policies, credit agreements, and/or residence certificates.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Letter a
Clearly stated.

Letter b
Other matters beyond the Consumer's control include, among others, the involvement of other parties outside the Consumer in the collection of documents required by the Consumer.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Article 72
Paragraph (1)
Submission of complaint receipt confirmation to the Consumer is delivered orally and/or in writing.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 73
Paragraph (1)
Submission of complaint receipt proof to the Consumer can be conducted through electronic facilities.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 74
Paragraph (1)
Clearly stated.

Paragraph (2)
Submission of written complaints is done when supporting documents owned by the Consumer are needed for the resolution of the complaint.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 75
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Letter a
Clearly stated.

Letter b
Clearly stated.

Letter c
Other matters beyond the FSI's control include, among others, the involvement of other parties outside the FSI in the utilization of products and/or services by the Consumer.

Paragraph (4)
Written notifications are delivered, among others, via letters, electronic mail (email), facsimile, and/or communication facilities owned by the Consumer provided to the FSI that can be used to submit Complaint documents.

Paragraph (5)
What is meant by "resolution of complaints outside the time limit" is the resolution of complaints conducted by the FSI with or without going through follow-up and complaint resolution stages and extension of time for follow-up and complaint resolution.

Examples of other parties: parties having cooperation with the FSI in the provision of financial products and/or services.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Article 76
Paragraph (1)
Rejections made by the FSI are followed up by submitting the rejection to the Consumer accompanied by the reason for rejection.

Letter a
Consumers who do not complete document requirements are considered to have canceled their complaint. Missing documents can result in the FSI being unable to analyze and make competent, correct, and objective decisions on complaint resolution.

Letter b
Complaints that have received resolution consist of:

Complaints that reach an agreement; or
Complaints that do not reach an agreement.

Letter c
Clearly stated.

Letter d
Clearly stated.

Letter e
Clearly stated.

Paragraph (2)
Clearly stated.

Article 77
Clearly stated.

Article 78
Paragraph (1)
Letter a
Clearly stated.

Letter b
Examples of complaint responses in the form of settlement offers: submission of apology statements and offers of compensation (redress/remedy).

Paragraph (2)
What is meant by "sufficient time" is the FSI considering geographical conditions, information facilities, and the complexity of products and/or services.

Paragraph (3)
Consumer statements accepting the settlement offer from the FSI can be in the form of agreement documents, minutes of agreement, correspondence letters, recording proofs, or other documents determined by the FSI.

Paragraph (4)
Written responses are required as written proof for the Consumer to proceed to the next process, including submitting Disputes to the Financial Services Dispute Settlement Agency (LAPS).

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Article 79
Paragraph (1)
See explanation of Article 15 paragraph (1).

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Article 80
Paragraph (1)
Clearly stated.

Paragraph (2)
See explanation of Article 17 paragraph (2).

Paragraph (3)
See explanation of Article 17 paragraph (3).

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Article 81
Paragraph (1)
See explanation of Article 14 paragraph (3).

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Article 82
Paragraph (1)
Letter a
Complaint submissions are delivered by Consumers through official channels determined by the Financial Services Authority (OJK).

Letter b
Consumer Dispute settlement requests are based on, among others, Disputes or civil disagreements. Dispute resolution in the financial services sector outside of court for all FSIs is conducted by 1 (one) Financial Services Dispute Settlement Agency (LAPS).

What is meant by "court" includes religious courts.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Article 83
Paragraph (1)
Examples of supervisory actions:

requesting the Financial Services Dispute Settlement Agency (LAPS) to change its articles of association; and/or
requesting the Financial Services Dispute Settlement Agency (LAPS) to hold an extraordinary general meeting.

Paragraph (2)
Clearly stated.

Article 84
Paragraph (1)
The proof process has proven that the products and/or services provided by the FSI have complied with regulatory provisions.

Paragraph (2)
Clearly stated.

Article 85
Paragraph (1)
What is meant by "Consumer and community protection provisions" are provisions regarding all efforts to ensure legal certainty to provide protection to Consumers and the community.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Article 86
Clearly stated.

Article 87
Clearly stated.

Article 88
Paragraph (1)
Clearly stated.

Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Examples of FSIs avoiding conflicts of interest: Marketing Employees who also handle Complaints and are involved in Complaints by Consumers are not allowed to handle such Complaints.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Paragraph (11)
Clearly stated.

Paragraph (12)
Clearly stated.

Article 89
Letter a
Clearly stated.

Letter b
Examples of coordinating the planning process: setting Complaint Service performance targets.

Letter c
Examples of monitoring and evaluating compliance implementation: setting monitoring, evaluation, and reporting of performance related to Complaint Services.

Letter d
Examples of reporting Consumer and community protection implementation, including the Complaint Service process, and providing recommendations for improvement and development of the Complaint Service process.

Letter e
Examples of compiling and submitting reports related to Consumer and community protection: compiling and submitting Complaint Service reports and self-assessments to the Financial Services Authority (OJK) through the FSI Board of Directors.

Letter f
Clearly stated.

Letter g
Clearly stated.

Letter h
Clearly stated.

Letter i
Clearly stated.

Article 90
Paragraph (1)
What is meant by "compliance" includes, among others, ensuring the compilation and implementation of Consumer Protection procedures.

Paragraph (2)
Supervision over the implementation of Board of Directors' responsibilities includes, among others, ensuring that the FSI Board of Directors has and implements Consumer Protection procedures.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
The reporting mechanism is a means for the implementation of Consumer Protection at the FSI, which is run by functions or units, to be known by the FSI Board of Directors.

Paragraph (6)
Clearly stated.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Article 91
Paragraph (1)
Clearly stated.

Paragraph (2)
Examples of training: seminars, in-house training, and workshops. The FSI provides Complaint Service training to FSI Employees in the Consumer Protection function or unit directly related to Consumers before the placement of said Employees.

Paragraph (3)
Clearly stated.

Paragraph (4)
Clearly stated.

Paragraph (5)
Clearly stated.

Paragraph (6)
Evaluation is conducted, among others, to determine the level of Employee understanding and the suitability of training materials.

Paragraph (7)
Clearly stated.

Paragraph (8)
Clearly stated.

Paragraph (9)
Clearly stated.

Paragraph (10)
Clearly stated.

Article 92
Paragraph (1)
Clearly stated.

Paragraph (2)
Letter a
Examples of Consumer rights to obtain security in using products and/or utilizing services as established in regulatory provisions and/or agreements:

Consumers have the right to security and confidentiality of Consumer data and information;
Consumers have the right to obtain information system security and cyber resilience from the FSI; and
Consumers have the right to obtain security of savings, funds, or Consumer assets under the responsibility of the FSI.

Letter b
Examples of Consumer rights to choose products and/or services:

prospective Consumers have the right to receive offers for products and/or services suitable for the needs and capabilities of the prospective Consumer;
when the FSI sells products and/or services resulting from cooperation activities with other FSIs using a reference business model for FSI products and/or services, Consumers have the right to receive choices of products and/or services resulting from the reference business model cooperation activities from at least 2 (two) FSIs, unless otherwise regulated by regulatory provisions in the financial services sector;
prospective Consumers have the right to receive products and/or services suitable for the needs and capabilities of the prospective Consumer; or
prospective Consumers have the right to receive sufficient time to understand the agreement clauses presented by the FSI before the prospective Consumer

Signing agreements (ensuring understanding of agreement clauses).

Letter c
Example: Consumers have the right to receive insurance claim benefits in accordance with the offer promised by the PUJK and/or in accordance with applicable regulations, after the Consumer has fulfilled their obligations.

Letter d
Examples of consumers' rights to receive information regarding products and/or services that is clear, accurate, correct, easily accessible, and not potentially misleading:

Consumers have the right to receive information regarding products and/or services that is clear, accurate, correct, easily accessible, and not potentially misleading;
Consumers have the right to receive a summary of information regarding products and/or services;
when Consumers use products and/or services, Consumers have the right to receive access to the results of voice and/or video recordings conducted during the offer through the Consumer's personal communication media using voice and/or video; and
prospective Consumers and/or Consumers have the right to receive information regarding the existence of conflicts of interest for offers to prospective Consumers and/or Consumers.

Letter e
Examples of consumers' rights to have their opinions heard and complaints addressed regarding products used and/or services utilized:

Consumers have the right to file Complaints; and
Consumers have the right to receive information regarding the status of Complaint handling when Consumers request explanations from the PUJK regarding the Complaints they have filed.

Letter f
Clearly sufficient.

Letter g
Examples of consumers' rights to receive financial education:
Consumers have the right to participate in financial education activities conducted by the authority and/or PUJK that are appropriate for the target participants of the activity.

Letter h
Examples of consumers' rights to be treated or served correctly:

Consumers have the right to be treated or served non-discriminatorily by the PUJK or third parties working for or representing the interests of the PUJK, unless otherwise determined in applicable regulations and/or agreements; and
Consumers have the right to receive products and/or services in accordance with applicable regulations and/or agreements.

Letter i
Clearly sufficient.

Letter j
Clearly sufficient.

Letter k
Examples:

Consumers have the right to receive proof of ownership and/or access to obtain and/or print proof of ownership of products and/or utilization of services promptly in accordance with the agreement between the PUJK and the Consumer; and
Consumers have the right to receive reports from the PUJK regarding the position of balances and fund movements, assets, or Consumer obligations accurately, correctly, promptly, and in a manner or via media in accordance with the agreement between the PUJK and the Consumer.

Paragraph (3)
Letter a
Clearly sufficient.

Letter b
Clearly sufficient.

Letter c
Examples of consumers' obligations to act in good faith in the use of products and/or services, namely not using financial services products and/or services as a means of money laundering, terrorism financing crimes, and financing the proliferation of weapons of mass destruction.

Letter d
Examples of consumers' obligations to provide information and/or documents that are clear, accurate, correct, and not misleading, namely providing data regarding themselves, including correct Identity Cards.

Letter e
Examples of consumers' obligations to pay in accordance with the value/price and/or costs of products and/or services agreed upon with the PUJK, namely paying premiums in accordance with the policy to the PUJK.

Letter f
Examples of consumers' obligations to participate in Consumer Protection Dispute Resolution efforts in accordance with applicable regulations, namely attending mediation meetings initiated by the Financial Services Sector Dispute Resolution Agency (LAPS).

Paragraph (4)
Clearly sufficient.

Article 93
Paragraph (1)
Clearly sufficient.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Information regarding the characteristics of the financial services sector, services, and its products:

the banking sector includes, among others, savings, safe deposit boxes, credit or financing based on Sharia principles, institutional matters, and bank licensing;
the capital market, derivative finance, and carbon exchange sectors include, among others, bonds, stocks, sukuk, mutual funds, institutional matters, and capital market licensing;
the insurance, guarantee, and pension fund sectors include, among others, life insurance, general insurance, bancassurance, and defined contribution pension programs; and
the financing institutions, venture capital companies, microfinance institutions, and other Financial Service Institutions sectors include, among others, vehicle financing based on Sharia principles, disbursement of loan funds with collateral based on pledge law, and Technology-Based Crowdfunding Service Providers.
Other information includes, among others, Information related to the system and Information managed by the Financial Services Authority (OJK) as well as Information related to illegal investments.

Article 94
Paragraph (1)
Clearly sufficient.

Paragraph (2)
What is meant by "telephone" is the contact service telephone of the Financial Services Authority.
Face-to-face meetings, known by the international term, are walk-ins.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Article 95
Paragraph (1)
Clearly sufficient.

Paragraph (2)
Provision of Information via mail can be done by attaching the letter to an electronic mail (email).

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Fulfillment of Information by the PUJK includes, among others, documents required by the Financial Services Authority.

Paragraph (6)
Conditions beyond the control of the PUJK include, among others, the involvement of third parties outside the PUJK in fulfilling Information requests.

Paragraph (7)
Clearly sufficient.

Paragraph (8)
Clearly sufficient.

Paragraph (9)
Clearly sufficient.

Paragraph (10)
Clearly sufficient.

Article 96
Paragraph (1)
Clearly sufficient.

Paragraph (2)
The Integrated Consumer and Community Service System in the Financial Services Sector is a system facilitated by the Financial Services Authority.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
What is meant by "following up on Complaints" is:
a. the PUJK follows up on Complaints Indicating Disputes in the Integrated Consumer and Community Service System in the Financial Services Sector; and/or

b. the PUJK follows up on requests from the Financial Services Authority regarding Complaints Indicating Violations.

Paragraph (6)
Clearly sufficient.

Paragraph (7)
Responses include, among others:

not accepting the PUJK's response – the Financial Services Sector Dispute Resolution Agency (LAPS), if the Consumer states disagreement with the response in the APPK and chooses to proceed to the LAPS Financial Services Sector;
not accepting the PUJK's response, if the Consumer states disagreement with the response in the APPK; or
accepting the PUJK's response, if the Consumer states agreement with the response in the APPK.

Paragraph (8)
Clearly sufficient.

Paragraph (9)
Clearly sufficient.

Paragraph (10)
Clearly sufficient.

Paragraph (11)
Clearly sufficient.

Article 97
Clearly sufficient.

Article 98
Paragraph (1)
Clearly sufficient.

Paragraph (2)
Letter a
Clearly sufficient.

Letter b
Examples of supporting institutions: Insurance Brokerage Companies, Reinsurance Brokerage Companies, Insurance Loss Appraisal Companies, Actuarial Consulting Companies, and Insurance Agency Companies. Professions conducting activities in the financial services sector include supporting financial sector professions and financial services sector professions, among others, public accountants, actuaries, securities broker representatives, and securities underwriting representatives.

Letter c
Third parties include, among others, authorities, government agencies, law enforcement officials, business entities, organizations, non-governmental organizations, communities, researchers, and academics.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Clearly sufficient.

Paragraph (6)
Clearly sufficient.

Paragraph (7)
Clearly sufficient.

Article 99
Paragraph (1)
Letter a
What is meant by "bad faith" is bad faith based on the assessment of the Financial Services Authority.

Letter b
Clearly sufficient.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
What is meant by "based on the assessment of the Financial Services Authority" is that violations committed by a party against applicable regulations in the financial services sector result in material losses for Consumers, the community, or the financial services sector. Civil lawsuits are legal standing lawsuits, not class action lawsuits.

Article 100
Paragraph (1)
Clearly sufficient.

Paragraph (2)
The appointment of third parties can be done before or after a court decision.

Paragraph (3)
Procedures for the distribution of Consumer, community, and/or PUJK loss restitution include, among others, requirements and procedures for Consumers, the community, and/or PUJK to receive compensation.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Clearly sufficient.

Paragraph (6)
Clearly sufficient.

Article 101
Clearly sufficient.

Article 102
Clearly sufficient.

Article 103
Letter a
What is meant by "information and reports" is related to the implementation of Consumer and community protection provisions.

Letter b
Field observations are conducted, among others, by:
a. PUJK Conduct Supervision surveys (Market Conduct); and/or b. market intelligence operations.

Article 104
Paragraph (1)
Clearly sufficient.

Paragraph (2)
The time limits as stated in the document and/or information request letters submitted by the Financial Services Authority.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Clearly sufficient.

Article 105
Clearly sufficient.

Article 106
Clearly sufficient.

Article 107
Paragraph (1)
Examples of themes in Thematic Inspections:
a. standard agreements; b. home ownership credit; and
c. collateral withdrawal mechanisms.

Paragraph (2)
Special Inspections are conducted, among others, through verification and examination of Complaints.
Specific aspects include, among others, specific business activities or operations, indications of deviations committed by the PUJK, and Complaint resolution. Indications of deviations committed by the PUJK include those submitted via Consumer Complaints.

Article 108
Paragraph (1)
Clearly sufficient.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Prohibitions against hindering the Thematic Inspection and Special Inspection processes include, among others, refusing and delaying the implementation of the Thematic Inspection and Special Inspection processes.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Clearly sufficient.

Paragraph (6)
Clearly sufficient.

Paragraph (7)
Clearly sufficient.

Article 109
Paragraph (1)
The authority to give orders or take certain actions is conducted in PUJK Conduct Supervision (Market Conduct) besides for the resolution of Consumer Complaints.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
Clearly sufficient.

Article 110
Paragraph (1)
Letter a
Clearly sufficient.

Letter b
Clearly sufficient.

Letter c
Clearly sufficient.

Letter d
Examples of third parties: parties that have cooperation with the PUJK in the provision of financial services products and/or services.

Letter e
Clearly sufficient.

Letter f
Examples of other Written Orders: submitting specific information, documents, and/or reports to the Financial Services Authority.

Paragraph (2)
Clearly sufficient.

Article 111
What is meant by "supervisory actions" is actions aimed at providing guidance, mentoring, taking preventive steps, and applying quick corrective steps against the PUJK. Supervisory actions are part of the results of direct and indirect supervision implementation.

Article 112
Examples of coordination between the Financial Services Authority and the Government and Bank Indonesia: in filing civil lawsuits and providing information and/or recommendations for the revocation of licenses of public accounting offices and/or public accountants for violations committed by public accounting offices and/or public accountants. The Government includes, among others, ministries/agencies.

Article 113
Clearly sufficient.

Article 114
Clearly sufficient.

Article 115
Paragraph (1)
Clearly sufficient.

Paragraph (2)
Clearly sufficient.

Paragraph (3)
Clearly sufficient.

Paragraph (4)
Clearly sufficient.

Paragraph (5)
The time of 10 (ten) working days includes confirmation and clarification of supporting evidence.

Paragraph (6)
Clearly sufficient.

Paragraph (7)
Clearly sufficient.

Paragraph (8)
Clearly sufficient.

Paragraph (9)
Clearly sufficient.

Article 116
Clearly sufficient.

Article 117
Clearly sufficient.

Article 118
Clearly sufficient.

Article 119
Clearly sufficient.

Article 120
Clearly sufficient.

Article 121
Clearly sufficient.

Article 122
Clearly sufficient.

Article 123
Clearly sufficient.

Article 124
Paragraph (1)
Examples:
The PUJK submits the Complaint Service report for the first time on a semi-annual basis for the data position from January 2024 to June 2024.

Paragraph (2)
Clearly sufficient.

Article 125
Clearly sufficient.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 62/OJK

Financial Services Authority Regulation Number 22 of 2023 on Consumer and Community Protection in the Financial Services Sector

Lineage: Superseded

Timeline