Financial Services Authority Regulation Number 42/POJK.04/2016 Concerning Stock Exchange Reports

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 42 /POJK.04/2016
CONCERNING
STOCK EXCHANGE REPORTS
BY THE GRACE OF THE ALMIGHTY GOD
THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering :
a. that with the enactment of Law Number 21 of 2011 concerning the Financial Services Authority, since December 31, 2012, the functions, duties, and authority for regulating and supervising financial services activities in the Capital Market sector, including regulations concerning Stock Exchange Reports, have transferred from the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority; b. that in order to provide clarity and certainty regarding regulations on Stock Exchange Reports, regulations on Stock Exchange Reports issued prior to the establishment of the Financial Services Authority need to be amended into a Financial Services Authority Regulation;
c. that based on the considerations as referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation concerning Stock Exchange Reports;
COPY

Considering : 1. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64, Supplement to the State Gazette of the Republic of Indonesia Number 3608);
2. Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Supplement to the State Gazette of the Republic of Indonesia Number 5253);
DECIDING:
Establishing : FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING STOCK EXCHANGE REPORTS.

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

1. Stock Exchange is a Party that organizes and provides systems and/or facilities to match the offers to sell and buy Securities from other Parties with the aim of trading Securities among them.
2. Stock Exchange Transaction is a contract made by Stock Exchange Members in accordance with the requirements determined by the Stock Exchange regarding the sale and purchase of Securities, borrowing and lending of Securities, or other contracts regarding Securities or the price of Securities.

CHAPTER II
TYPES OF REPORTS
Article 2
Stock Exchanges are obligated to submit activity reports to the Financial Services Authority, including:
a. daily reports regarding Stock Exchange Transactions; b. monthly reports containing:

1. recapitulation of activities during the period, accompanied by statistics on price developments and trading volumes;
2. reports regarding Issuers whose Securities are listed on the Stock Exchange; and
3. activities of Stock Exchange Members;
   c. reports regarding the suspension or cancellation of Securities listing, including the re-listing of Securities, Securities whose trading is suspended, and the lifting of trading suspensions;
   d. semi-annual financial reports and annual financial reports that have been audited by Accountants registered with the Financial Services Authority, accompanied by the opinion of such Accountants; e. reports on budget realization and profit utilization; f. reports on the organization of the General Meeting of Shareholders; g. reports regarding changes in the status of Stock Exchange Members and Representative Securities Companies; h. reports regarding the imposition of sanctions by the Stock Exchange against Stock Exchange Members and/or Representative Securities Companies on the Stock Exchange; and
   i. reports regarding special events such as financial difficulties of Stock Exchange Members.

CHAPTER III
SUBMISSION OF STOCK EXCHANGE REPORTS
First Section
Electronic Documents
Article 3
The submission of activity reports by Stock Exchanges to the Financial Services Authority as referred to in Article 2 may be done electronically.

Article 4
The Financial Services Authority's receipt of activity reports submitted by Stock Exchanges as referred to in Article 2 and Article 3 is calculated based on the time the report is received by the Financial Services Authority in the form of printed documents or electronic documents. Second Section Submission Timeframes and Announcement of Reports
Article 5
Daily Stock Exchange Transaction reports as referred to in Article 2 letter a must be submitted to the Financial Services Authority no later than the next business day.

Article 6
(1) Monthly reports as referred to in Article 2 letter b include the number and types of listed Securities, the number of listed Issuers, new Securities listings, and other information requested by the Financial Services Authority related to its function as a Stock Exchange. (2) Monthly reports as referred to in paragraph (1) must be submitted to the Financial Services Authority no later than the 12th (twelfth) day of the following month.

Article 7
Reports regarding the suspension or cancellation of Securities listing, including re-listing, and reports regarding Securities whose trading is suspended, as referred to in Article 2 letter c, must be submitted to the Financial Services Authority no later than the next business day.

Article 8
(1) Semi-annual financial reports as referred to in Article 2 letter d must be submitted to the Financial Services Authority no later than 60 (sixty) days from the end of the period.
(2) Annual financial reports as referred to in Article 2 letter d must be submitted to the Financial Services Authority no later than 90 (ninety) days from the end of the fiscal year.
(3) Semi-annual financial reports and annual financial reports as referred to in paragraphs (1) and (2) must be announced in at least 2 (two) daily newspapers in the Indonesian language, 1 (one) of which has national circulation, no later than 30 (thirty) days from the date of the respective Accountant's report. (4) In the event that the Accountant provides an opinion other than a Clean Opinion on the semi-annual and annual financial reports as referred to in paragraphs (1) and (2), the Financial Services Authority may summon members of the Board of Directors and/or conduct examinations to obtain further information.

Article 9
Budget realization reports as referred to in Article 2 letter e must be prepared quarterly and submitted to the Financial Services Authority through the Board of Commissioners, with the provision that such reports are submitted cumulatively on a quarterly basis and received by the Financial Services Authority no later than the 12th (twelfth) day after the end of the respective quarter.

Article 10
Reports on the organization of the General Meeting of Shareholders as referred to in Article 2 letter f must be submitted to the Financial Services Authority no later than 2 (two) business days after the date of the Stock Exchange's General Meeting of Shareholders.

Article 11
Reports regarding changes in the status of Stock Exchange Members and Representative Securities Companies on the Stock Exchange as referred to in Article 2 letter g must be submitted to the Financial Services Authority no later than 2 (two) days after such changes occur.

Article 12
Reports regarding the imposition of sanctions by the Stock Exchange against Stock Exchange Members and/or Representative Securities Companies on the Stock Exchange and reports regarding special events as referred to in Article 2 letters h and i must be submitted to the Financial Services Authority no later than the next day.

Article 13
In the event that the submission deadlines for reports as referred to in Article 6, Article 8 paragraphs (1) and (2), Article 9, Article 11, and Article 12 fall on a holiday, such reports must be submitted on the next business day.

CHAPTER IV
SANCTION PROVISIONS
Article 14
(1) Without prejudice to criminal provisions in the Capital Market sector, the Financial Services Authority has the authority to impose administrative sanctions on any party that violates the provisions of this Financial Services Authority Regulation, including parties causing the violation, in the form of:
a. written warnings; b. fines, namely the obligation to pay a certain amount of money;
c. business activity restrictions;
d. business activity suspension; e. business license revocation; f. approval cancellation; and g. registration cancellation.
(2) Administrative sanctions as referred to in paragraph (1) letters b, c, d, e, f, or g may be imposed with or without prior imposition of administrative sanctions in the form of written warnings as referred to in paragraph (1) letter a. (3) Administrative sanctions in the form of fines as referred to in paragraph (1) letter b may be imposed independently or together with the imposition of administrative sanctions as referred to in paragraph (1) letters c, d, e, f, or g.

Article 15
In addition to administrative sanctions as referred to in Article 14 paragraph (1), the Financial Services Authority may take specific actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 16
The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 14 paragraph (1) and specific actions as referred to in Article 15 to the public.

CHAPTER V
CLOSING PROVISIONS
Article 17
Upon the enactment of this Financial Services Authority Regulation, the Decision of the Chairman of the Capital Market Supervisory Agency Number Kep-64/PM/1996 dated January 17, 1996 concerning Stock Exchange Reports, along with Regulation Number X.A.1 which is its attachment, are repealed and declared invalid.

Article 18
This Financial Services Authority Regulation takes effect upon its enactment.
To ensure that everyone knows it, it is ordered to promulgate this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.
Established in Jakarta on December 2, 2016
CHAIRMAN OF THE BOARD OF COMMISSIONERS
FINANCIAL SERVICES AUTHORITY, signed
MULIAMAN D. HADAD
Promulgated in Jakarta on December 7, 2016
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, signed
YASONNA H. LAOLY
STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2016 NUMBER 5967 Copy in accordance with the original Legal Director 1 Legal Department signed Yuliana

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 42 /POJK.04/2016
CONCERNING
STOCK EXCHANGE REPORTS

I. GENERAL
That since December 31, 2012, the functions, duties, and authority for regulating and supervising financial services activities in the Capital Market, Insurance, Pension Fund, Financing Institutions, and Other Financial Institutions sectors have transferred from the Minister of Finance and the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority. In light of the above, it is necessary to reorganize the existing regulatory structure, particularly those related to the Capital Market sector, by converting Capital Market Supervisory Agency regulations related to the Capital Market sector into Financial Services Authority Regulations. This reorganization is conducted to ensure that there are Financial Services Authority regulations regarding the Capital Market sector that are consistent with Financial Services Authority regulations in other sectors. Based on the background and aspects mentioned above, it is necessary to replace the existing Capital Market sector legislation regulating Stock Exchange Reports, namely the Decision of the Chairman of the Capital Market Supervisory Agency Number Kep-64/PM/1996 dated January 17, 1996 concerning Stock Exchange Reports, along with Regulation Number X.A.1 which is its attachment, with a Financial Services Authority Regulation concerning Stock Exchange Reports.

II. ARTICLE BY ARTICLE
Article 1
Sufficiently clear.
Article 2
Sufficiently clear.
Article 3
Sufficiently clear.
Article 4
Sufficiently clear.
Article 5
Sufficiently clear.
Article 6
Sufficiently clear.
Article 7
Sufficiently clear.
Article 8
Sufficiently clear.
Article 9
Sufficiently clear.
Article 10
Sufficiently clear.
Article 11
Sufficiently clear.
Article 12
Sufficiently clear.
Article 13
Sufficiently clear.
Article 14
Sufficiently clear.
Article 15
Sufficiently clear.
Article 16
Sufficiently clear.
Article 17
Sufficiently clear.
Article 18
Sufficiently clear.
SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 5967