FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 7 /POJK.04/2018

CONCERNING

SUBMISSION OF REPORTS VIA THE ELECTRONIC REPORTING SYSTEM

FOR ISSUERS OR PUBLIC COMPANIES

BY THE GRACE OF GOD THE ALMIGHTY,

THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that in order to improve the effectiveness and efficiency of report submission and information disclosure by issuers or public companies to the Financial Services Authority, it is necessary to refine the provisions of legislation in the capital market sector regarding the submission of reports and information disclosure through the electronic reporting system for issuers or public companies; b. that based on the considerations as referred to in letter a, it is necessary to establish a Financial Services Authority Regulation concerning the Submission of Reports via the Electronic Reporting System for Issuers or Public Companies;

Recalling:

1. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64, Supplement to the State Gazette of the Republic of Indonesia Number 3608);
2. Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Supplement to the State Gazette of the Republic of Indonesia Number 5253);

DECIDES:

To establish: A FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING THE SUBMISSION OF REPORTS VIA THE ELECTRONIC REPORTING SYSTEM FOR ISSUERS OR PUBLIC COMPANIES.

CHAPTER I

GENERAL PROVISIONS

Article 1

In this Financial Services Authority Regulation, the following terms are defined as:

1. Issuer means a Party that conducts a Public Offering.
2. Public Company means a Corporation whose shares are owned by at least 300 (three hundred) shareholders and has paid-up capital of at least Rp3,000,000,000.00 (three billion rupiah) or a number of shareholders and paid-up capital determined by Government Regulation.
3. Report means reports, information disclosure, or documents that must be submitted by Issuers or Public Companies to the Financial Services Authority as referred to in the provisions of legislation in the capital market sector.
4. Electronic Reporting System, hereinafter abbreviated as SPE, is an information system used as a medium for the electronic submission of Reports by Issuers or Public Companies to the Financial Services Authority.

CHAPTER II

OBLIGATIONS FOR REPORT SUBMISSION

Article 2

(1) Issuers or Public Companies are obligated to submit Reports to the Financial Services Authority through the SPE.
(2) The SPE as referred to in paragraph (1) can be accessed via the website with the address https://spe.ojk.go.id or another address designated by the Financial Services Authority. (3) The Reports as referred to in paragraph (1) include Reports mandated by the provisions of legislation in the capital market sector as follows:
a. regulations concerning plans and organization of general meetings of shareholders; b. regulations concerning reports on the realization of the use of funds from public offerings;
c. regulations concerning the obligation to submit periodic financial reports of Issuers or Public Companies;
d. regulations concerning the submission of annual reports of Issuers or Public Companies; e. regulations concerning the use of public accountants and public accounting firms in financial service activities; f. regulations concerning the implementation of sustainable finance for financial service institutions, Issuers, and Public Companies; g. regulations concerning disclosure of material information or facts by Issuers or Public Companies; h. regulations concerning affiliate transactions and conflicts of interest in certain transactions;
i. regulations concerning material transactions and changes in main business activities;
j. regulations concerning ownership or any changes in ownership of shares of public companies; k. regulations concerning the company secretary of Issuers or Public Companies;
l. regulations concerning the formation and guidelines for drafting the charter of the internal audit unit;
m. regulations concerning the formation and guidelines for the implementation of the audit committee's work; n. regulations concerning the nomination and remuneration committee of Issuers or Public Companies; o. regulations concerning the board of directors and board of commissioners of Issuers or Public Companies; p. regulations concerning capital increases of public companies by granting pre-emptive rights; q. regulations concerning registration statements in the context of public offerings and capital increases by granting pre-emptive rights by Issuers with small-scale assets or Issuers with medium-scale assets; r. regulations concerning capital increases of public companies without granting pre-emptive rights; s. regulations concerning the repurchase of shares issued by Issuers or Public Companies; t. regulations concerning bonus shares; u. regulations concerning the rating of debt securities and/or sukuk;
v. regulations concerning information disclosure for Issuers or Public Companies that have filed for bankruptcy;
w. regulations concerning the issuance and requirements for environmentally conscious debt securities (green bonds);
x. regulations concerning reports and announcements by Issuers issuing regional bonds and/or regional sukuk; and
y. Other Reports that must be submitted to the Financial Services Authority based on the provisions of legislation in the capital market sector.

Article 3

The deadline for submitting Reports through the SPE as referred to in Article 2 paragraph (1) follows each respective provision of legislation in the capital market sector regulating the submission of Reports for Issuers or Public Companies.

Article 4

(1) Issuers or Public Companies are obligated to store Reports as referred to in Article 2 paragraph (1).
(2) The document storage period as referred to in paragraph (1) must be carried out in accordance with the Law concerning corporate documents.
(3) Issuers or Public Companies are obligated to provide all Reports as referred to in paragraph (1) if requested by the Financial Services Authority.

Article 5

(1) Reports submitted by Issuers or Public Companies through the SPE must contain the same information as the information contained in the Reports stored by the Issuer or Public Company. (2) In the event of a difference in information in the Reports stored in the Financial Services Authority's database compared to the information in the Reports stored by the Issuer or Public Company, the information used as the reference is the Report stored in the Financial Services Authority's database.

CHAPTER III

PROCEDURES FOR REPORT SUBMISSION

Article 6

(1) Issuers or Public Companies may only submit Reports electronically to the Financial Services Authority through the SPE after obtaining access rights to use the SPE from the Financial Services Authority. (2) The access rights to use the SPE as referred to in paragraph (1) consist of user identity and password from the Financial Services Authority. (3) Issuers or Public Companies must submit an application to obtain access rights to use the SPE as referred to in paragraph (1) no later than on the allotment date.

Article 7

Issuers or Public Companies are fully responsible for the use of the SPE.

Article 8

(1) Issuers or Public Companies must:
a. provide adequate hardware, software, and internet network with computer and application specifications in accordance with the SPE user guide; and b. read and comply with the procedures and methods of using the SPE based on the user guide. (2) The user guide as referred to in paragraph (1) letter b can be downloaded from the Financial Services Authority website.

Article 9

(1) Issuers or Public Companies are deemed to have submitted Reports through the SPE to the Financial Services Authority if the Issuer or Public Company has received an electronic proof of receipt. (2) The electronic proof of receipt as referred to in paragraph (1) is issued by the SPE via an email notification of the receipt of the Report by the Financial Services Authority to the Issuer or Public Company.

Article 10

(1) Issuers or Public Companies are exempted from the obligation to submit Reports through the SPE as referred to in Article 2 paragraph (1) in the event that:
a. the Financial Services Authority states that the SPE is experiencing disturbances; and/or b. a force majeure event occurs involving:

1. natural disasters, war, riots, fires, strikes that significantly affect the ability of Issuers or Public Companies to submit Reports through the SPE; and/or
2. other events that significantly affect the ability of Issuers or Public Companies to submit Reports through the SPE as designated by the Financial Services Authority.
   (2) In the event of conditions as referred to in paragraph (1), the submission of Reports is carried out by:
   a. handing over or sending directly to the correspondence address of the Financial Services Authority headquarters in the form of electronic documents; or b. sending via email to the address spe@ojk.go.id. (3) In the event that the conditions as referred to in paragraph (1) have been resolved, Issuers or Public Companies must resubmit the Reports that have been submitted as referred to in paragraph (2) through the SPE.

CHAPTER IV

SANCTION PROVISIONS

Article 11

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

Article 12

In addition to administrative sanctions as referred to in Article 11 paragraph (1), the Financial Services Authority may take certain actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 13

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 11 paragraph (1) and certain actions as referred to in Article 12 to the public.

CHAPTER V

TRANSITIONAL PROVISIONS

Article 14

Issuers or Public Companies whose registration statements have become effective before the implementation of this Financial Services Authority Regulation and do not yet have access rights to use the SPE must submit an application to obtain access rights to use the SPE no later than 6 (six) months from the date this Financial Services Authority Regulation is promulgated.

CHAPTER VI

CLOSING PROVISIONS

Article 15

(1) The provisions for the submission of Reports through the SPE to the Financial Services Authority as referred to in Article 2 paragraph (1) shall take effect after 6 (six) months from the date this Financial Services Authority Regulation is promulgated. (2) Upon the implementation of the provisions as referred to in paragraph (1):
a. the obligation to submit Reports in the form of printed documents to the Financial Services Authority as regulated in each respective provision of legislation in the capital market sector regulating the submission of Reports to the Financial Services Authority; and b. the obligation to submit Reports in original form and the obligation to submit copies of electronic documents as regulated in the provisions of legislation in the capital market sector regulating the submission of periodic financial reports and annual reports of Issuers or Public Companies, are declared not to apply.

Article 16

(1) From the date this Financial Services Authority Regulation takes effect until the time period as referred to in Article 15 paragraph (1), Issuers or Public Companies may submit Reports through the SPE. (2) In the event that Issuers or Public Companies as referred to in paragraph (1) have submitted Reports through the SPE, Issuers or Public Companies are not obligated to submit Reports in printed form.

Article 17

Upon the implementation of this Financial Services Authority Regulation, Financial Services Authority Circular Letter Number 6/SEOJK.04/2014 concerning Procedures for Electronic Submission of Reports by Issuers or Public Companies is revoked and declared not to apply.

Article 18

This Financial Services Authority Regulation takes effect on the date of its promulgation.

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

In order that everyone may know 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 25 April 2018

CHAIRMAN OF THE BOARD OF COMMISSIONERS
FINANCIAL SERVICES AUTHORITY, signed
WIMBOH SANTOSO

Promulgated in Jakarta on 25 April 2018

MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, signed
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2018 NUMBER 69

EXPLANATION

OF

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 7 /POJK.04/2018

CONCERNING

SUBMISSION OF REPORTS VIA THE ELECTRONIC REPORTING SYSTEM

FOR ISSUERS OR PUBLIC COMPANIES

I. GENERAL

Law Number 8 of 1995 concerning the Capital Market defines the Principle of Disclosure as a general guideline that requires Issuers and Public Companies or other Parties mentioned to disclose all Material Information that can influence the decision of shareholders or investors regarding the Securities and/or the price of such Securities, to the public in a timely manner.

Based on the Principle of Disclosure, the timely submission of reports and information disclosure by Issuers or Public Companies, both to the Financial Services Authority and to the public, is an important element that must be carried out so that there is no information gap that has the potential to harm investors.

In every policy taken, the Financial Services Authority always pays attention to industry developments and public needs, including among them the development of information technology. In this regard, in order to improve the effectiveness and efficiency of report submission by Issuers or Public Companies to the Financial Services Authority, in 2014 the Financial Services Authority established Financial Services Authority Circular Letter (SEOJK) Number 6/SEOJK.04/2014 concerning Procedures for Electronic Submission of Reports by Issuers or Public Companies. Through the aforementioned SEOJK, Issuers or Public Companies have been urged to submit Reports to the Financial Services Authority through the Electronic Reporting System for Issuers or Public Companies (SPE) provided by the Financial Services Authority.

Based on monitoring data from the Financial Services Authority, since the establishment of SEOJK Number 6/SEOJK.04/2014 concerning Procedures for Electronic Submission of Reports by Issuers or Public Companies, the majority of Issuers or Public Companies have implemented the submission of Reports through the SPE and to date there have been no obstacles in the implementation of the reporting obligation through the aforementioned SPE.

With the above considerations, in order to improve the effectiveness and efficiency of report submission to the Financial Services Authority, the Financial Services Authority assesses that the submission of Reports through the SPE can be mandated, so it is necessary to regulate it in a Financial Services Authority Regulation.

II. ARTICLE BY ARTICLE

Article 1

Clear enough.

Article 2

Paragraph (1)
Clear enough.

Paragraph (2)
Clear enough.

Paragraph (3)
Letter a
Clear enough.

Letter b
Clear enough.

Letter c
Clear enough.

Letter d
Clear enough.

Letter e
Clear enough.

Letter f
Clear enough.

Letter g
Clear enough.

Letter h
Clear enough.

Letter i
Clear enough.

Letter j
Clear enough.

Letter k
Clear enough.

Letter l
Clear enough.

Letter m
Clear enough.

Letter n
Clear enough.

Letter o
Clear enough.

Letter p
Clear enough.

Letter q
Clear enough.

Letter r
Clear enough.

Letter s
Clear enough.

Letter t
Clear enough.

Letter u
Clear enough.

Letter v
Clear enough.

Letter w
Clear enough.

Letter x
Clear enough.

Letter y
In principle, with the implementation of this Financial Services Authority Regulation, all Reports mandated by the provisions of legislation in the capital market sector must be submitted through the SPE, including the obligation to submit Reports that will be regulated later.

Article 3

Clear enough.

Article 4

Paragraph (1)
Storage of reporting through the SPE which is only done in the form of filling out SPE forms can be done by printing the aforementioned SPE form.

Paragraph (2)
Clear enough.

Paragraph (3)
Clear enough.

Article 5

Paragraph (1)
Clear enough.

Paragraph (2)
In practice, the database is also known as a database.

Article 6

Paragraph (1)
Clear enough.

Paragraph (2)
In practice, user identity is also known as user id.
In practice, password is also known as password.

Paragraph (3)
Clear enough.

Article 7

Clear enough.

Article 8

Paragraph (1)
Letter a
In practice, hardware is also known as hardware.
In practice, software is also known as software.
In practice, user guide is also known as user manual.

Letter b
Clear enough.

Paragraph (2)
Clear enough.

Article 9

Paragraph (1)
Clear enough.

Paragraph (2)
In practice, email is also known as e-mail.

Article 10

Clear enough.

Article 11

Clear enough.

Article 12

The term "certain actions" includes, among others:
a. postponement of granting effective statements, for example, effective statements for business mergers, business consolidations; and b. postponement of granting Financial Services Authority statements that there are no further responses to documents submitted to the Financial Services Authority in the context of capital increases with pre-emptive rights for public companies.

Article 13

The announcement of the imposition of administrative sanctions and certain actions by the Financial Services Authority can be carried out, among others, through the Financial Services Authority website or the Financial Services Authority annual report.

Article 14

Clear enough.

Article 15

Clear enough.

Article 16

Clear enough.

Article 17

Clear enough.

Article 18

Clear enough.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 6202