Regulatory Alerts2024-12-31
Added · Updated
OJK Regulation No. 49 of 2024 on Supervision, Supervision Status Determination, and Follow-up for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions
This regulation establishes the framework for direct and indirect supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions (PVML) by the Financial Services Authority (OJK). It mandates that OJK conduct supervisory examinations to assess PVML health, compliance, and financial conditions, utilizing inspection teams that may include public accountants or independent appraisers. PVML entities are required to provide full access to documents, data, and personnel, and must implement recommendations from inspection reports within specified deadlines, reporting progress monthly if no specific timeline is set.
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