OJK Regulation No. 5 of 2025 on Supporting Professions in the Financial Services Sector

EXTRACT
FINANCIAL SERVICES AUTHORITY REGULATION
OF THE REPUBLIC OF INDONESIA
NUMBER 5 OF 2025
ON
SUPPORTING PROFESSIONS IN THE FINANCIAL SERVICES SECTOR BY THE GRACE OF THE ALMIGHTY GOD, THE COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering: that in order to implement the provisions of Article 259 paragraph (6) and paragraph (7) of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector, it is necessary to establish a Financial Services Authority Regulation concerning Supporting Professions in the Financial Services Sector; Recalling: 1. 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) as amended by Law Number 4 of 2023 concerning 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);
2. Law Number 4 of 2023 concerning 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:
Establishing: THE FINANCIAL SERVICES AUTHABILITY REGULATION CONCERNING SUPPORTING PROFESSIONS IN THE FINANCIAL SERVICES SECTOR.

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

Financial Services Sector is the banking sector, capital market, derivative finance, carbon exchange, insurance, guarantee, pension fund, financing institution, venture capital company, microfinance institution, other financial service institutions, financial sector technology innovation, digital financial assets, and crypto assets, which are regulated and supervised by the Financial Services Authority.
Party is a party that carries out activities in the Financial Services Sector regulated and supervised by the Financial Services Authority, including financial service institutions and/or individuals or legal entities that carry out activities in the Financial Services Sector.
Supporting Profession in the Financial Services Sector, hereinafter referred to as Supporting Profession, is a profession practitioner in the Financial Services Sector that provides professional services to various industries in the Financial Services Sector to support the effectiveness of the Financial Services Sector.
Public Accountant is a person who has obtained permission to provide services as referred to in the Law concerning public accountants.
Actuary is a public actuary who has obtained permission from the minister in charge of government affairs in the field of finance to provide actuarial services to the public.
Actuarial Consultant is an Actuary working in an actuarial consulting office.
Legal Consultant is a legal expert who provides legal opinions to Parties.
Valuation is a work process to provide a written opinion on the economic value of a valuation object in accordance with valuation standards.
Public Appraiser is a person who has competence to carry out Valuation activities and has obtained permission from the minister in charge of government affairs in the field of finance.
Notary is a public official authorized to make authentic deeds and has other authorities as referred to in the Law concerning the office of notaries.
Substitute Notary is a person who is temporarily appointed as a Notary to replace a Notary who is on leave, sick, or temporarily unable to perform their duties as a Notary as referred to in the Law concerning the office of Notaries.
Continuing Professional Education, hereinafter referred to as PPL, is a continuing education and/or professional training for Supporting Professions that is continuous and aims to maintain competence.
State Official is a state official as referred to in the Law concerning civil servants.
Professional Association is a professional organization that oversees Practitioners of Professions in the Financial Services Sector.
Minister is the minister who oversees the ministry designated as the supervisor and supervisor of Supporting Professions.
Legal Consulting Office, hereinafter abbreviated as KKH, is a civil partnership or firm that serves as a venue for Legal Consultants in carrying out their activities.
Public Appraisal Service Office, hereinafter abbreviated as KJPP, is a business entity in the form of a partnership that has obtained a business license from the minister in charge of government affairs in the field of finance as a venue for Public Appraisers in carrying out Valuation activities.

CHAPTER II
USE OF SUPPORTING PROFESSION SERVICES
Article 2
Supporting Professions consist of:
a. Public Accountant; b. Actuarial Consultant;
c. Public Appraiser;
d. Notary; e. Legal Consultant; and f. other professions determined by the Financial Services Authority.

Article 3
(1) To be able to provide services in the Financial Services Sector, Supporting Professions as referred to in Article 2 letters a through e must:
a. have obtained a license or other form equivalent to a license from the ministry, institution, and/or supervising authority of the relevant Supporting Profession; and b. be registered with the Financial Services Authority and recorded as active in the list of Supporting Professions at the Financial Services Authority. (2) The use of Supporting Professions registered with the Financial Services Authority is carried out for services required by laws and regulations in the Financial Services Sector and/or written instructions from the Financial Services Authority. (3) The use of Public Accountant and Public Accountant office services in financial service activities is carried out in accordance with the Financial Services Authority Regulation concerning the use of Public Accountant and Public Accountant office services in financial service activities. (4) The use of Public Appraisers in the capital market sector is carried out for Valuation activities as follows:
a. property Valuation activities include:
1. Real property Valuation;
2. Personal property Valuation;
3. Project development/construction Valuation;
4. Property development Valuation;
5. Plantation asset Valuation;
6. Fishery asset Valuation;
7. Forestry asset Valuation;
8. Mining asset Valuation; and
9. Other property Valuation;
b. business Valuation activities include:
1. Company and/or business entity Valuation;
2. Investment in company Valuation;
3. Financial instrument Valuation;
4. Intangible asset Valuation;
5. Providing fairness opinions on transactions;
6. Preparation of project and business feasibility studies;
7. Valuation of economic profits/losses caused by a certain activity or event; and
8. Other business Valuation.
(5) Parties must use Supporting Professions that meet the provisions as referred to in paragraph (1) in the use of Supporting Profession services required as referred to in paragraph (2), paragraph (3), and/or paragraph (4). (6) Parties that violate the provisions as referred to in paragraph (5):
a. are deemed not to have fulfilled their obligations regarding the use of Supporting Profession services in accordance with laws and regulations in the Financial Services Sector; and b. are subject to sanctions in accordance with laws and regulations. (7) The Financial Services Authority is authorized to issue written orders to Supporting Professions that carry out activities in the Financial Services Sector that do not meet the provisions as referred to in paragraph (1).

Article 4
(1) In the event of other professions as referred to in Article 2 letter f:
a. if there is an institution or agency authorized or granting licenses for other professions, other professions must first obtain a license from the said institution or agency and obtain a registration certificate from the Financial Services Authority; or b. if there is no institution or agency authorized or granting licenses for other professions as referred to in Article 2 letter f, other professions must first obtain a license from the Financial Services Authority. (2) Parties must use services from other professions that meet the provisions as referred to in paragraph (1) in the use of other profession services required by the Financial Services Authority in accordance with laws and regulations. (3) Parties that violate the provisions as referred to in paragraph (2):
a. are deemed not to have fulfilled their obligations regarding the use of Supporting Profession services in accordance with laws and regulations in the Financial Services Sector; and b. are subject to sanctions in accordance with laws and regulations. (4) The Financial Services Authority is authorized to issue written orders to other professions that carry out activities in the Financial Services Sector that do not meet the provisions as referred to in paragraph (1). (5) Further provisions regarding licensing or registration requirements for other professions determined by the Financial Services Authority as referred to in paragraph (1) are regulated in a Financial Services Authority Regulation.

Article 5
In certain conditions, the Financial Services Authority may determine exemptions from the use of Supporting Profession services that have obtained a registration certificate from the Financial Services Authority for activities in the Financial Services Sector.

CHAPTER III
ADMINISTRATIVE MANAGEMENT OF SUPPORTING PROFESSIONS IN THE FINANCIAL SERVICES SECTOR First Section Registration
Article 6
To obtain a registration certificate for Supporting Professions as referred to in Article 3 paragraph (1) letter b, Supporting Professions must submit a registration application and supporting documents to the Financial Services Authority through the integrated licensing and registration system of the Financial Services Authority.

Article 7
(1) Supporting Professions that will submit a registration application to the Financial Services Authority as referred to in Article 6 must meet at least the following requirements:
a. have a valid and active license or other form equivalent to a license from the ministry, institution, and/or supervising authority of the Supporting Profession; b. have competence and knowledge in the Financial Services Sector according to the Supporting Profession in providing their services;
c. be members of the Professional Association; and
d. in the event that the Supporting Profession is a reporting party as determined in laws and regulations regarding the implementation of anti-money laundering programs and counter-terrorism financing, the Supporting Profession must have been registered in the application system for the implementation of anti-money laundering and counter-terrorism financing programs organized by the Financial Transaction Reports and Analysis Center. (2) In addition to meeting the requirements as referred to in paragraph (1), Supporting Professions must meet integrity requirements stated in a declaration letter containing at least:
a. never subjected to administrative sanctions such as revocation of license, cancellation of approval, and/or cancellation of registration from the Financial Services Authority or previous authorities; b. never convicted for proven criminal offenses in the field of financial services;
c. not listed in the list of non-performing credits and/or financing;
d. never and/or proven to be a party, either alone or together with others, committing money laundering crimes including predicate crimes, terrorism financing, and proliferation financing of weapons of mass destruction and/or convicted for proven money laundering, terrorism financing, and proliferation financing of weapons of mass destruction crimes; e. not holding dual positions:

in other Supporting Profession offices;
as other Supporting Professions registered with the Financial Services Authority;
and/or
as holders of other positions,
which are regulated by laws and regulations or ethical codes prohibited from being held by the same person; f. not included as parties prohibited from becoming main parties in accordance with the Financial Services Authority Regulation concerning Re-evaluation for main parties of financial service institutions; g. acting independently, objectively, and professionally in performing their duties; h. maintaining the confidentiality of data and information obtained in providing services to Parties in accordance with laws and regulations; and
i. applying professional standards, quality control standards, and professional ethical codes in the provision of services.
(3) The fulfillment of competence and knowledge in the Financial Services Sector as referred to in paragraph (1) letter b is carried out through programs organized by:
a. ministries, institutions, or supervising authorities of Supporting Professions; b. Professional Associations recognized by the Financial Services Authority and/or ministries, institutions, or supervising authorities of Supporting Professions; and/or
c. other parties cooperating with parties as referred to in letters a and b.
(4) When submitting a registration application for the first time to the Financial Services Authority, Supporting Professions may choose the scope of service provision in 1 (one) or more Financial Services Sector as long as they meet the competence and knowledge requirements according to the scope of service provision chosen.

Article 8
Registration application documents for Supporting Professions and supporting documents as referred to in Article 6 must contain at least:
a. proof of valid license or other form equivalent to a license from the ministry, institution, and/or supervising authority of the Supporting Profession that is still active; b. proof of membership in the Professional Association;
c. latest curriculum vitae;
d. Identity Card (Kartu Tanda Penduduk); e. latest color passport-sized photo with size 4x6 cm (centimeters); f. proof of competence and knowledge in the Financial Services Sector and industries using the services of Supporting Professions obtained within the last 2 (two) years calculated from the date of obtaining competence and knowledge in the Financial Services Sector and industries using the services of Supporting Professions; g. declaration letter with stamp stating that the Supporting Profession, when submitting the registration application and while registered with the Financial Services Authority, meets the provisions as referred to in Article 7 paragraph (2); and h. proof of registration in the application system for the implementation of anti-money laundering and counter-terrorism financing programs organized by the Financial Transaction Reports and Analysis Center, if the Supporting Profession is a reporting party as determined in laws and regulations regarding the implementation of anti-money laundering and counter-terrorism financing programs.

Article 9
In addition to meeting the requirements as referred to in Article 7, Supporting Professions carrying out activities in the capital market must meet the following requirements:
a. for Legal Consultants:
1. not grouped and/or holding dual positions in any capacity in other KKHs and/or other capital market Supporting Professions registered with the Financial Services Authority; and
2. must hold the position of partner in a KKH that meets the requirements:
a) led by a partner responsible for legal due diligence and legal opinions; b) applies at least 2 (two) levels of control in conducting legal due diligence; c) has and applies a quality control system in conducting legal due diligence and providing legal opinions; and d) for KKHs that only have 1 (one) Legal Consultant partner, to be able to carry out activities in the capital market, must make a cooperation agreement with another Legal Consulting Office that has Legal Consultant partners regarding the transfer of responsibility if the relevant Legal Consultant is unable to perform their duties. b. for Public Appraisers:
1. have licenses for Public Appraiser of property and/or Public Appraiser of business from the minister in charge of government affairs in the field of finance;
2. not hold dual positions in any capacity in other KJPPs and/or other capital market Supporting Professions registered with the Financial Services Authority;
3. have recommendations from the Professional Association; and
4. hold the position of partner and/or shareholder in a KJPP that must meet the requirements:
a) has a business license from the minister in charge of government affairs in the field of finance and is led by a Public Appraiser who has been registered with the Financial Services Authority; b) is in the form of a civil partnership or firm with Public Appraisers acting as the leader of the KJPP partner, who is a Public Appraiser registered with the Financial Services Authority with a scope of service provision in the capital market sector; c) has a business license from the minister in charge of government affairs in the field of finance and is led by a Public Appraiser who has been registered with the Financial Services Authority; d) applies at least 2 (two) levels of control in conducting Valuation; e) has and consistently applies a quality control system as regulated in laws and regulations concerning Public Appraisers; f) is willing to undergo examinations conducted by the Financial Services Authority regarding the implementation of Valuation work and quality control systems at the relevant KJPP; and g) make an agreement with Public Appraisers from other KJPPs that have the same scope of Valuation activities regarding the transfer of responsibility if the relevant Public Appraiser is unable to perform their duties, in the event that the relevant KJPP does not have 2 (two) Public Appraisers with the same scope of Valuation activities.

Article 10
(1) In addition to submitting registration application documents and supporting documents as referred to in Article 8, Supporting Professions carrying out activities in the capital market must submit:
a. Public Appraisers in the capital market sector:

photocopy of the license for Public Appraiser of property and/or Public Appraiser of business from the minister in charge of government affairs in the field of finance according to the scope of Valuation activities submitted to the Financial Services Authority;
recommendation letter from the Professional Association stating that the relevant Public Appraiser has met the requirements established by the Professional Association and is worthy of consideration to carry out activities in the capital market according to the scope of Valuation activities owned; and
documents related to the KJPP:
a) photocopy of the establishment deed of the KJPP along with the latest amendments; b) photocopy of the business license from the minister in charge of government affairs in the field of finance; c) photocopy of the registration certificate for capital market Supporting Profession partner leaders from the Financial Services Authority; d) photocopy of the agreement with Public Appraisers who have the same scope of Valuation activities from other KJPPs regarding the transfer of responsibility if the Public Appraiser of the relevant KJPP is unable to perform their duties, in the event that the relevant KJPP does not have 2 (two) Public Appraisers with the same scope of Valuation activities; e) organizational chart of the KJPP showing:
1) the composition of partners, middle management supervisors, and executive staff, along with the names holding those positions; and
2) in conducting Valuation, Public Appraisers apply at least 2 (two) levels of control consisting of Public Appraisers responsible for signing reports, and middle management supervisors who supervise executive staff;
f) cooperation agreement documents with foreign KJPPs or foreign appraisal organizations, if the KJPP cooperates with foreign KJPPs or foreign appraisal organizations; g) photocopy of the tax identification number in the name of the KJPP; and h) declaration letter with stamp signed by the leader of the KJPP partner, stating:
1) the KJPP has a quality control system as regulated in laws and regulations concerning Public Appraisers;
2) the leader of the KJPP partner is responsible for the implementation of the quality control system at the relevant KJPP; and
3) the KJPP is willing to undergo examinations by the Financial Services Authority regarding the implementation of Valuation work and quality control systems at the relevant KJPP.
b. Legal Consultants in the capital market, documents related to the KKH include:
photocopy of the establishment deed of the KKH along with the latest amendments;
photocopy of the tax identification number in the name of the KKH;
cooperation agreement between Legal Consultants and Legal Consultants who are partners in other KKHs regarding the transfer of responsibility if the relevant Legal Consultant is unable to perform their duties, for KKHs that only have 1 (one) Legal Consultant partner;
organizational chart of the KKH showing the leadership, composition of partners, middle management supervisors, and executive staff; and
declaration letter with stamp signed by the leader of the KKH partner stating that the KKH will carry out activities in accordance with laws and regulations in the capital market sector and other regulations.
(2) In providing recommendation letters to Public Appraisers as referred to in paragraph (1) letter a number 2, Professional Associations must consider:
a. the relevant Public Appraiser has had experience involved in Valuation processes for capital market purposes for at least 3 (three) assignments within the last 3 (three) years; or b. the relevant Public Appraiser has participated in professional education in the capital market sector organized by the Professional Association within the last 24 (twenty-four) months.

Article 11
Competence and knowledge requirements for Supporting Professions as referred to in Article 7 paragraph (1) letter b must be at least the number of professional credit units to be fulfilled as determined by the Financial Services Authority.

Article 12
(1) Registration requirements and procedures for Public Accountants and Public Accountant offices are carried out in accordance with the Financial Services Authority Regulation concerning the use of Public Accountant and Public Accountant office services in financial service activities. (2) In addition to meeting the registration requirements as referred to in paragraph (1), Public Accountants must have been registered in the application system for the implementation of anti-money laundering and counter-terrorism financing programs organized by the Financial Transaction Reports and Analysis Center as referred to in Article 7 paragraph (1) letter d, accompanied by proof of registration as referred to in Article 8 letter h.

Part Two

Addition and Reduction of Service Scope

Article 13
Supporting Professions that are registered with the Financial Services Authority may add the scope of services provided to 1 (one) or more Financial Services Sectors by submitting:
a. an application for the addition of the scope of services provided, which must meet the competency and knowledge requirements in the Financial Services Sector as referred to in Article 11 in accordance with the additional choice of Financial Services Sector; and b. supporting documents for the competency and knowledge requirements in the Financial Services Sector, through the integrated licensing and registration system of the Financial Services Authority.

Article 14
(1) For Public Appraisers who will add the scope of Appraisal activities in the capital market sector from Public Property Appraiser or Public Business Appraiser to Public Property Appraiser and Public Business Appraiser, Public Appraisers must submit an application for the addition of the scope of Public Appraiser activities. (2) The application for the addition of the scope of Public Appraiser activities as referred to in paragraph (1) is submitted to the Financial Services Authority by submitting:
a. a photocopy of the Public Property Appraiser and/or Public Business Appraiser license from the Minister who handles government affairs in the field of finance in accordance with the scope of Appraisal activities submitted to the Financial Services Authority; b. the latest curriculum vitae containing professional assignment data; and
c. a photocopy of the cooperation agreement with another Public Appraiser who has the same scope of Appraisal activities from the Public Appraisal Practice Firm regarding the transfer of responsibility if the relevant Public Appraiser is unable to perform their duties,
in the event that the relevant Public Appraisal Practice Firm does not have 2 (two) Public Appraisers with the same scope of Appraisal activities.
(3) Public Appraisers must submit the application for the addition of the scope of Appraisal activities and supporting documents through the integrated licensing and registration system of the Financial Services Authority.

Article 15
(1) Supporting Professions may reduce the scope of services provided to 1 (one) or more Financial Services Sectors.
(2) Supporting Professions as referred to in paragraph (1) must submit an application for the reduction of the scope of services provided and supporting documents through the integrated licensing and registration system of the Financial Services Authority. (3) The application for the reduction of the scope of services provided as referred to in paragraph (2) must contain at least:
a. a letter of statement with a stamp stating that the Supporting Profession is reducing the scope of services provided and has completed all obligations established by the Financial Services Authority and the completion of services provided in the scope of services to be reduced; and b. the reason for the reduction of the scope of services provided. (4) Supporting documents as referred to in paragraph (2) contain evidence that all obligations established by the Financial Services Authority and the completion of services provided in the scope of services to be reduced have been completed.

Part Three

Review of Registration Applications

Article 16
(1) The Financial Services Authority conducts a review to approve or reject:
a. registration applications and supporting documents as referred to in Article 6; b. the addition of the scope of services provided to Financial Services Sectors as referred to in Article 13;
c. the addition of the scope of Appraisal activities in the capital market sector as referred to in Article 14; and/or
d. the reduction of the scope of services provided for Public Appraisers in the capital market sector as referred to in Article 15, within a maximum period of 14 (fourteen) working days since the registration, addition, or reduction of scope application is received in complete form. (2) The Financial Services Authority may request additional documents related to the fulfillment of requirements within the period as referred to in paragraph (1). (3) In the event that Supporting Professions do not submit additional documents as referred to in paragraph (2) within a maximum period of 14 (fourteen) working days after the request of the Financial Services Authority, Supporting Professions are deemed to have cancelled the application and may submit a new registration. (4) In the event that registration applications and the addition of the scope of services provided to Financial Services Sectors are approved by the Financial Services Authority as referred to in paragraph (1) letters a, b, and c, Supporting Professions are issued a registered letter and are included in the list of Supporting Professions at the Financial Services Authority. (5) In the event that applications as referred to in paragraph (1) are rejected by the Financial Services Authority, the Financial Services Authority provides a notification letter to Supporting Professions stating that the application is rejected due to not meeting the requirements. (6) In the event that the Financial Services Authority has approved the reduction of the scope of services provided to Financial Services Sectors as referred to in paragraph (1) letter d, then:
a. the registered letter of Supporting Professions in accordance with the scope of services provided that is reduced is cancelled and declared invalid; and b. Supporting Professions are prohibited from conducting activities in Financial Services Sectors in accordance with the scope of services provided that is reduced since the date of the decision letter.

CHAPTER IV

OBLIGATIONS

Part One

General

Article 17
(1) During registration with the Financial Services Authority, Supporting Professions are obliged to continue to meet registration requirements at least:
a. have never been subject to administrative sanctions in the form of license revocation, approval cancellation, and/or registration cancellation from the Financial Services Authority or previous authorities; b. have never been convicted for committing criminal offenses in the field of financial services;
c. are not listed in the list of non-performing loans or financing;
d. have never and/or are proven to be parties, either alone or together with others, committing money laundering crimes including the predicate crimes, terrorism financing, and proliferation financing of weapons of mass destruction and/or are convicted for committing money laundering crimes, terrorism financing, and proliferation financing of weapons of mass destruction; e. do not hold concurrent positions as other Supporting Professions and/or other positions that are prohibited from being held concurrently by the same person according to statutory regulations or professional codes of ethics; f. are not included as parties prohibited from becoming principal parties according to Financial Services Authority Regulations regarding re-evaluation of principal parties of financial services institutions; g. act independently, objectively, and professionally in performing their duties; h. maintain the confidentiality of data and information obtained in providing services to Parties in accordance with statutory regulations; and
i. apply professional standards, quality control standards, and professional codes of ethics in the provision of services insofar as otherwise regulated in statutory regulations in Financial Services Sectors.
(2) Supporting Professions that violate the provisions as referred to in paragraph (1) letter g are subject to administrative sanctions in the form of registration suspension for a maximum of 1 (one) year. (3) Supporting Professions that violate the provisions as referred to in paragraph (1) letters b, d, and f are subject to administrative sanctions in the form of registration cancellation for Supporting Professions. (4) Supporting Professions that violate the provisions as referred to in paragraph (1) letters h and i are subject to administrative sanctions in the form of registration suspension for a maximum of 1 (one) year and/or administrative sanctions in the form of fines of up to Rp5,000,000,000.00 (five billion rupiah). (5) The Financial Services Authority imposes administrative sanctions in the form of registration cancellation for Supporting Professions subject to administrative sanctions in the form of registration suspension as referred to in paragraph (2) and paragraph (4) 2 (two) times within a period of 3 (three) years. (6) Supporting Professions that violate the provisions as referred to in paragraph (1) letters c and e are subject to administrative sanctions in the form of warnings or written reprimands accompanied by a deadline for correction. (7) In the event that Supporting Professions have been subject to administrative sanctions in the form of warnings or written reprimands as referred to in paragraph (6) and continue to violate the provisions as referred to in paragraph (1) letters c and e after the established deadline, Supporting Professions are subject to administrative sanctions in the form of registration suspension for a maximum of 1 (one) year. (8) Supporting Professions that continue to violate the provisions as referred to in paragraph (1) letters c and e after the registration suspension period as referred to in paragraph (7) expires, Supporting Professions are subject to administrative sanctions in the form of registration cancellation.

Article 18
(1) In addition to meeting the obligations as referred to in Article 17, Supporting Professions are obliged to:
a. participate in Professional Continuing Education (PPL) every year organized by parties as referred to in Article 7 paragraph (3); b. submit reports to the Financial Services Authority;
c. be willing to provide data and information and respond to calls and/or undergo examinations by the Financial Services Authority regarding compliance with the provision of services in Financial Services Sectors and the application of quality control over service activities provided to Parties in accordance with statutory regulations in Financial Services Sectors during the service provision period and after the cooperation agreement with Parties has ended; and
d. not hold concurrent positions as referred to in Article 7 paragraph (2) letter e in 1 (one) period.
(2) Supporting Professions that do not meet the obligation to participate in PPL as referred to in paragraph (1) letter a for 2 (two) consecutive years are subject to administrative sanctions in the form of suspension of the registered letter of Supporting Professions for 1 (one) year from the date the administrative sanction is determined. (3) Regulations regarding PPL as referred to in paragraph (1) letter a are determined by the Financial Services Authority.

Article 19
The obligation of Supporting Professions to participate in PPL as referred to in Article 18 paragraph (1) letter a takes effect for the following year since Supporting Professions obtain the registered letter from the Financial Services Authority.

Article 20
(1) In addition to the obligation to maintain the fulfillment of registration requirements as referred to in Article 9 and meet the obligations as referred to in Article 17 and Article 18, Legal Consultants who conduct activities in the capital market sector are obliged to conduct legal due diligence and provide legal opinions in accordance with the professional standards of the Professional Association or other customary legal due diligence and legal opinion standards, insofar as otherwise regulated in professional standards formulated by the Professional Association. (2) In addition to meeting the obligations as referred to in paragraph (1), Legal Consultants who conduct activities in the capital market sector are prohibited from:
a. transferring assignment responsibilities in the capital market sector to other parties not registered with the Financial Services Authority; and/or b. being combined and/or holding concurrent positions in any capacity in other Legal Practice Firms and/or other capital market Supporting Professions registered with the Financial Services Authority. (3) In addition to the obligation to maintain the fulfillment of registration requirements as referred to in Article 9 and meet the obligations as referred to in Article 17 and Article 18, Public Appraisers who conduct activities in the capital market sector are obliged to:
a. conduct Appraisals in accordance with the scope of Appraisal activities as stated in the registered letter of capital market Supporting Professions; and b. present Appraisal reports determined by the Financial Services Authority. (4) In addition to meeting the obligations as referred to in paragraph (3), Public Appraisers who conduct activities in the capital market sector are prohibited from:
a. using appraisers from other Public Appraisal Practice Firms to provide professional services; b. holding concurrent positions in any capacity in other Public Appraisal Practice Firms and/or as other capital market Supporting Professions registered with the Financial Services Authority; and
c. providing Appraisal services or any other services from Public Appraisers and/or Public Appraisal Practice Firms that may cause conflicts of interest with parties where the Public Appraiser holds concurrent positions and their affiliations, if the Public Appraiser holds concurrent positions with parties that have obtained licenses, approvals, and/or whose registration statements have become effective.
(5) In addition to the obligation to maintain the fulfillment of registration requirements as referred to in Article 9 and meet the obligations as referred to in Article 17 and Article 18, Notaries who conduct activities in the capital market sector are prohibited from:
a. transferring assignment responsibilities in the capital market sector to other parties not registered with the Financial Services Authority; and/or b. holding concurrent positions as other capital market Supporting Professions and/or other positions that are prohibited from being held concurrently with the position of Notary according to statutory regulations. (6) Legal Consultants or Public Appraisers who no longer hold the position of partners, associates, or no longer have the authority to bind Parties on behalf of Legal Practice Firms or Public Appraisal Practice Firms cannot conduct activities in the capital market. (7) The Financial Services Authority has the authority to impose administrative sanctions on Legal Consultants, Public Appraisers, and Notaries who conduct activities in the capital market sector who violate the provisions as referred to in paragraph (1), paragraph (2), paragraph (3), paragraph (4), and/or paragraph (5), in the form of:
a. written warnings; b. fines, namely the obligation to pay a certain amount of money; and/or
c. registration cancellation.
(8) Administrative sanctions as referred to in paragraph (7) letter b or letter c may be imposed with or without prior imposition of administrative sanctions in the form of written warnings as referred to in paragraph (7) letter a. (9) Administrative sanctions in the form of fines as referred to in paragraph (7) letter b may be imposed separately or together with the imposition of administrative sanctions as referred to in paragraph (7) letter c.

Article 21
(1) The Financial Services Authority has the authority to impose administrative sanctions on parties causing violations as referred to in Article 17, Article 18, and Article 20 paragraph (1), paragraph (2), paragraph (3), paragraph (4), and paragraph (5), 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 suspensions; e. business license revocations; f. approval cancellations; and/or g. registration cancellations.
(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 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 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 22
In addition to administrative sanctions as referred to in Article 20 paragraph (7), the Financial Services Authority may take certain actions against any party who violates the provisions of this Financial Services Authority Regulation.

Article 23
The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 20 paragraph (7) and Article 21, as well as certain actions as referred to in Article 22, to the public.

Article 24
The obligations and prohibitions of Public Accountants and Public Accounting Firms in financial services activities are implemented in accordance with Financial Services Authority Regulations regarding the use of services of Public Accountants and Public Accounting Firms in financial services activities.

Part Two

Reporting

Article 25
(1) The submission of reports as referred to in Article 18 paragraph (1) letter b contains at least:
a. periodic activity reports of Supporting Professions containing information about Supporting Profession activities in Financial Services Sectors through the Financial Services Authority reporting system; b. incidental reports including:

reports of changes in Supporting Profession data and information through the integrated licensing and registration system of the Financial Services Authority; and
reports regarding violations of statutory regulations in Financial Services Sectors and/or at the Financial Services Authority committed by Parties, and/or conditions or estimated conditions that may endanger the business continuity of Parties or stakeholders accompanied by evidence to the Financial Services Authority.
(2) The period of periodic activity reports as referred to in paragraph (1) letter a is for 1 (one) year calculated from January 1 to December 31.
(3) In the event that Supporting Professions registered with the Financial Services Authority are less than the 1 (one) year period as referred to in paragraph (2), the period of periodic activity reports is calculated from registration with the Financial Services Authority until December 31 of the current year. (4) Periodic activity reports as referred to in paragraph (1) letter a for Public Accountants are implemented in accordance with Financial Services Authority Regulations regarding the use of services of Public Accountants and Public Accounting Firms in financial services activities. (5) Periodic activity reports as referred to in paragraph (1) letter a must be submitted at the latest on the 15th of the following month after the end of the reporting period to the Financial Services Authority. (6) Incidental reports as referred to in paragraph (1) letter b number 1 must be submitted at the latest 10 (ten) working days after:
a. the date of approval or notification of data changes from the Minister; and/or b. the occurrence of data and information changes.
(7) Incidental reports as referred to in paragraph (1) letter b number 2 must be submitted at the latest 3 (three) working days since violations, conditions, and/or estimated conditions are found.
(8) In the event that the final deadline for report submission as referred to in paragraph (5) falls on a holiday, reports must be submitted at the latest on 1 (one) working day thereafter.
(9) Supporting Professions that are late in submitting reports as referred to in paragraph (1) are subject to administrative sanctions in the form of fines of Rp100,000.00 (one hundred thousand rupiah) per day of delay and a maximum of Rp3,000,000.00 (three million rupiah) per report. (10) The imposition of administrative sanctions as referred to in paragraph (9) does not eliminate the obligation to submit reports as referred to in paragraph (1).

Article 26
(1) In addition to meeting the obligations as referred to in Article 25, Supporting Professions who conduct activities in the capital market sector are obliged to report the types of data and information changes with the following regulations:
a. For Legal Consultants in the capital market sector, the types of data and information changes reported:
1. transfer to other Legal Practice Firms;
2. leaving the Legal Practice Firm where the Legal Consultant works;
3. status as a State Official;
4. changes to the name of the Legal Practice Firm; and/or
5. changes to the address of the Legal Practice Firm; and/or
6. changes to the name of the head of the Legal Practice Firm.
b. For Notaries in the capital market sector, the types of data and information changes reported:
1. Notaries who resign or are dismissed in accordance with Laws regarding the position of Notaries;
2. office addresses and/or work areas;
3. status as a State Official;
4. extension of the term of office as a Notary, if any; and/or
5. subject to sanctions from competent authorities.
c. For Public Appraisers in the capital market sector, the types of data and information changes reported:
1. transfer to other Public Appraisal Practice Firms;
2. holding any position with parties that have obtained licenses, approvals, and/or whose registration statements have become effective, as well as their affiliations; and/or
3. status as a State Official.
d. For partners of Public Appraisal Practice Firms in Public Appraisers in the capital market sector, the types of data and information changes reported:
1. changes to the address of the Public Appraisal Practice Firm;
2. changes to the establishment deed of the Public Appraisal Practice Firm including if there are changes to the composition of partners, partner leaders, and/or changes to the name of the Public Appraisal Practice Firm;
3. changes to the business license of the Public Appraisal Practice Firm from the Minister who handles government affairs in the field of finance if there are changes to the name of the Public Appraisal Practice Firm;
4. changes to cooperation agreements with foreign Public Appraisal Practice Firms or foreign appraisal organizations that have obtained approval from the Minister who handles government affairs in the field of finance;
5. changes to cooperation agreements with Public Appraisers from other Public Appraisal Practice Firms; and/or
6. closure or opening of Public Appraisal Practice Firms.
(2) Reports of data changes as referred to in paragraph (1) must be submitted at the latest 10 (ten) working days after:
a. the date of approval or notification of data changes from the Minister; and/or b. the occurrence of data and information changes.
(3) Legal Consultants, Notaries, Public Appraisers, and partner leaders of Public Appraisal Practice Firms who are Public Appraisers in the capital market who are late in submitting reports as referred to in paragraph (1) are subject to administrative sanctions in the form of fines of Rp100,000.00 (one hundred thousand rupiah) per day of delay and a maximum of Rp3,000,000.00 (three million rupiah) per report. (4) The imposition of administrative sanctions as referred to in paragraph (3) does not eliminate the obligation to submit reports as referred to in paragraph (1).

Article 27
(1) Supporting Professions are declared late in submitting periodic activity reports if reports are submitted after the final deadline for report submission as referred to in Article 25 paragraph (5) up to 30 (thirty) days thereafter. (2) Supporting Professions are declared late in submitting incidental reports if reports are submitted after the final deadline for report submission as referred to in Article 25 paragraph (6), paragraph (7), and Article 26 paragraph (2) up to 30 (thirty) days thereafter.

(3) In the event that a Supporting Profession submits periodic activity reports past the deadline as referred to in Article 25 paragraph (5), the calculation of the number of days of delay in submitting periodic activity reports shall be calculated from the first day after the final deadline for submission as referred to in Article 25 paragraph (5).

(4) In the event that a Supporting Profession submits incidental reports past the deadline as referred to in Article 25 paragraph (6), paragraph (7), and Article 26 paragraph (2), the calculation of the number of days of delay in submitting periodic activity reports shall be calculated from the first day after the final deadline for submission as referred to in Article 25 paragraph (6), paragraph (7), and Article 26 paragraph (2).

Article 28

(1) A Supporting Profession is deemed not to have submitted periodic activity reports if the report has not been submitted after the final deadline for late submission of reports as referred to in Article 27 paragraph (1).

(2) A Supporting Profession is deemed not to have submitted incidental reports if the report has not been submitted after the final deadline for late submission of reports as referred to in Article 27 paragraph (2).

(3) A Supporting Profession that does not submit reports as referred to in paragraph (1) and paragraph (2) shall be subject to administrative sanctions in the form of fines of Rp5,000,000.00 (five million rupiah) per report.

Article 29

(1) In the event that the Financial Services Authority and/or a Supporting Profession finds errors in data and information in reports as referred to in Article 25 paragraph (1), the Supporting Profession is required to prepare and submit corrections for the errors in data and information in the reports to the Financial Services Authority through the Financial Services Authority's reporting system.

(2) A Supporting Profession that does not submit report corrections to the Financial Services Authority as referred to in paragraph (1) shall be subject to administrative sanctions in the form of written reprimands or written warnings accompanied by a deadline for correction.

(3) The administrative sanctions as referred to in paragraph (2) may be preceded by written instructions.

(4) The imposition of administrative sanctions as referred to in paragraph (3) does not eliminate the obligation to submit report corrections to the Financial Services Authority as referred to in paragraph (1).

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Article 30

Reporting by Public Accountants and Public Accounting Firms in financial service activities shall be implemented in accordance with Financial Services Authority Regulations regarding the use of Public Accountants and Public Accounting Firms in financial service activities.

CHAPTER V
SUSPENSION OF SERVICE PROVISION

First Section
Temporary Inactivity

Article 31

(1) In the event that a Supporting Profession:
a. takes leave to conduct activities in the Financial Services Sector for a period of at least 1 (one) year; b. is subject to administrative sanctions in the form of registration suspension from the Financial Services Authority and/or license suspension sanctions from the Minister;
c. has service provision suspended for a temporary period issued by the competent agency;
d. is appointed and/or designated as a State Official; e. is a partner and/or associate of a Supporting Profession office that is currently subject to sanctions in the form of business license suspension from the ministry, agency, and/or supervisory and regulatory authority of the Supporting Profession; and/or f. there are other causes that result in the Supporting Profession being unable to conduct its activities for a temporary period, the Supporting Profession is declared temporarily inactive.

(2) For Supporting Professions declared temporarily inactive as referred to in paragraph (1):
a. all registration certificates issued in the name of the Supporting Profession are declared temporarily invalid; b. the Supporting Profession cannot provide services to Parties;
c. the Supporting Profession is exempted from the obligation to submit reports as referred to in Article 25 paragraph (1), if reporting obligations arise during the period of temporary inactivity;
d. Supporting Professions other than Public Accountants are exempted from the obligation to participate in Continuing Professional Education (PPL) until the end of the temporary inactivity period; and e. the Supporting Profession remains obligated to comply with summons and/or undergo examinations by the Financial Services Authority.

(3) In the event that a Supporting Profession participates in PPL during the period of temporary inactivity, participation in PPL may be counted as fulfillment of requirements for reactivation in the Financial Services Sector, provided that the PPL is conducted within the last 2 (two) years of the temporary inactivity period.

(4) Supporting Professions currently subject to administrative sanctions in the form of registration suspension from the Financial Services Authority and/or license suspension sanctions from the Minister as referred to in paragraph (1) letter b cannot apply for leave to conduct activities in the Financial Services Sector as referred to in paragraph (1) letter a.

Article 32

(1) In the event that a Supporting Profession applies for leave to conduct activities in the Financial Services Sector as referred to in Article 31 paragraph (1) letter a, the Supporting Profession must first submit:
a. an application to the Financial Services Authority accompanied by reasons and the duration of the leave; and b. a statement letter stating that it is not currently providing services in the Financial Services Sector, through the Financial Services Authority's integrated licensing and registration system.

(2) The duration of leave that can be applied for is at most 5 (five) years, including extensions.

(3) A Supporting Profession may extend or shorten the duration of leave.

(4) A Supporting Profession that intends to extend the duration of leave must submit a new application letter at least 14 (fourteen) working days before the duration of leave expires, accompanied by reasons.

(5) A Supporting Profession that intends to shorten the duration of leave must submit a new application letter at least 14 (fourteen) working days before the date of expiration of the new duration of leave, accompanied by reasons.

(6) In the event that a Supporting Profession shortens the duration of leave to less than 1 (one) year:
a. the exemption from the obligation to submit reports as referred to in Article 31 paragraph (2) letter c is cancelled; b. the Supporting Profession is required to submit reports as referred to in Article 25 paragraph (1) to the Financial Services Authority at the latest on the 15th of the month following the expiration of the duration of leave; and
c. the exemption from the obligation to participate in PPL until the end of the temporary inactivity period as referred to in Article 31 paragraph (2) letter d is cancelled.

(7) A Supporting Profession that has shortened the duration of leave and cannot participate in PPL in the year the leave is conducted as referred to in paragraph (6) letter c is required to carry out PPL by accumulating professional credit units in the following year.

(8) In the event that the applications as referred to in paragraph (1) and paragraph (4) are approved by the Financial Services Authority, the Supporting Profession's registration certificate is declared temporarily inactive through a notification letter from the Financial Services Authority.

(9) In the event that the application as referred to in paragraph (5) is approved by the Financial Services Authority, the Supporting Profession's registration certificate is declared active again through a notification letter from the Financial Services Authority.

(10) In the event that the applications as referred to in paragraph (1), paragraph (4), and paragraph (5) are not approved by the Financial Services Authority, the Financial Services Authority issues a notification letter.

Article 33

(1) A Supporting Profession appointed and/or designated as a State Official as referred to in Article 31 paragraph (1) letter d submits a notification letter to the Financial Services Authority through the Financial Services Authority's integrated licensing and registration system.

(2) The duration of temporary inactivity for a Supporting Profession appointed and/or designated as a State Official corresponds to the term of office as a State Official.

(3) A Supporting Profession that no longer holds the position of State Official and will resume activities in the Financial Services Sector must submit:
a. a notification letter to the Financial Services Authority; and b. a list of changes in data and information from the Supporting Profession and/or the Supporting Profession office, accompanied by supporting evidence, if any.

(4) A Supporting Profession that resumes activities in the Financial Services Sector as referred to in paragraph (3) is required to:
a. fulfill the obligation to participate in PPL as referred to in Article 18 paragraph (1) letter a; and b. submit periodic activity reports as referred to in Article 25 paragraph (1) letter a in the following year.

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Article 34

(1) In the event that a Supporting Profession that is temporarily inactive due to taking leave as referred to in Article 31 paragraph (1) letter a will become active again and be recorded on the list of active Supporting Professions at the Financial Services Authority, the Supporting Profession must submit an application for reactivation to the Financial Services Authority through the Financial Services Authority's integrated licensing and registration system at least 1 (one) month before the period of temporary inactivity ends.

(2) In the event that a Supporting Profession that is temporarily inactive as referred to in Article 31 paragraph (1) letter a, letter b, letter c, letter e, and letter f will become active again and be recorded on the list of active Supporting Professions at the Financial Services Authority, the Supporting Profession must:
a. report a list of changes in data and information from the Supporting Profession, accompanied by supporting evidence, if any; and b. include proof of participation in PPL as referred to in Article 31 paragraph (3), through the Financial Services Authority's integrated licensing and registration system at least 1 (one) month before the period of temporary inactivity ends.

(3) The reactivation provisions for Supporting Professions as referred to in paragraph (1) and paragraph (2) are carried out simultaneously.

(4) If necessary, the Financial Services Authority may request additional documents for the purpose of reactivating the Supporting Profession.

(5) The Financial Services Authority approves or rejects the application for reactivation as referred to in paragraph (1) within a maximum period of 14 (fourteen) working days since the reactivation application was received in complete form.

(6) In the event that the application for reactivation is approved by the Financial Services Authority, the Supporting Profession is given a notification letter that it has become active again and is included in the list of Supporting Professions at the Financial Services Authority.

(7) In the event that the application for reactivation is incomplete, the Financial Services Authority provides a notification letter to the Supporting Profession to complete the requirements at the latest 14 (fourteen) working days from the date of the Financial Services Authority's notification.

(8) In the event that the Supporting Profession does not complete the missing documents required within a maximum period of 14 (fourteen) working days after the date of the Financial Services Authority's notification letter as referred to in paragraph (5), the Supporting Profession is deemed to have cancelled the reactivation application, and the applicant may submit a new application.

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(9) In the event that the application for reactivation is rejected by the Financial Services Authority as referred to in paragraph (5), the Financial Services Authority provides a notification letter to the Supporting Profession stating that the application is rejected because it does not meet the requirements.

Article 35

(1) A Notary who submits a leave application as referred to in Article 32 paragraph (1) letter a appoints a Replacement Notary in accordance with the provisions of legislation regarding the Notary position.

(2) The leave application as referred to in paragraph (1) is accompanied by a letter of appointment of a Replacement Notary.

(3) In the event that the leave application is not accompanied by a letter of appointment of a Replacement Notary as referred to in paragraph (2), the Financial Services Authority rejects the leave application.

Article 36

(1) A Replacement Notary who replaces the duties of a Notary must first be registered with the Financial Services Authority to be able to provide services.

(2) The requirements and registration documents for Notaries as referred to in Article 7 and Article 8 apply mutatis mutandis to Replacement Notaries, except:
a. fulfillment of the requirement to have been appointed and taken the oath as a Notary by the ministry in charge of legal affairs; and b. submission of the appointment decision letter as a Notary from the ministry in charge of legal affairs.

(3) In addition to the requirements and documents as referred to in paragraph (1), a Replacement Notary is required to submit:
a. a letter of appointment as a Replacement Notary from the Notary being replaced as referred to in Article 35 paragraph (1); b. a decision from the Notary Supervisory Board regarding the leave of the Notary being replaced; and
c. minutes of the oath-taking as a Replacement Notary from the competent agency.

Article 37

(1) The validity period of the Supporting Profession registration certificate for a Replacement Notary is valid for 5 (five) years.

(2) In the event that the validity period of the Supporting Profession registration certificate for a Replacement Notary as referred to in paragraph (1) has expired, the Replacement Notary may submit a new registration application with the requirements as referred to in Article 36 if appointed as a Replacement Notary from a Notary on leave.

Article 38

(1) In the event that the Notary being replaced has been declared active again by the Financial Services Authority, the Supporting Profession registration certificate held by the Replacement Notary becomes inactive, and the Replacement Notary cannot conduct activities as a Supporting Profession.

(2) The Supporting Profession registration certificate for a Replacement Notary that is inactive as referred to in paragraph (1) letter a can be applied for reactivation when replacing a Notary on leave, provided that the Supporting Profession registration certificate of the Replacement Notary is still valid as referred to in Article 37.

(3) The reactivation letter as referred to in paragraph (2) is submitted by the Replacement Notary through the Notary being replaced at the time of the leave application request, in the application letter document as referred to in Article 35 paragraph (1) to the Financial Services Authority, attaching the requirements as referred to in Article 36 paragraph (3).

(4) The Financial Services Authority provides notification of the reactivation of the Supporting Profession registration certificate for a Replacement Notary that has met the requirements as referred to in paragraph (3).

Article 39

Obligations and prohibitions applicable to Notaries in this Financial Services Authority Regulation apply mutatis mutandis to Replacement Notaries who replace Notaries.

Second Section
Permanent Inactivity

Article 40

In the event that:
a. a Supporting Profession is subject to administrative sanctions by the Financial Services Authority resulting in the cancellation of the registration certificate; b. the license as a Supporting Profession from the ministry, agency, or supervisory and regulatory authority is revoked and no longer valid;
c. dismissed as a Supporting Profession by the competent agency;
d. a Supporting Profession resigns as a Supporting Profession registered with the Financial Services Authority; or e. a Supporting Profession dies, the Supporting Profession is declared permanently inactive.

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Article 41

A Supporting Profession is deemed to have resigned as a Supporting Profession registered with the Financial Services Authority as referred to in Article 40 letter d, if:
a. the Supporting Profession submits a letter of resignation and cancellation of the Supporting Profession registration certificate to the Financial Services Authority; b. the application for reactivation by the Supporting Profession does not meet the requirements within a maximum period of 6 (six) months after the period of temporary inactivity ends; or
c. the Supporting Profession does not apply for reactivation within a maximum period of 6 (six) months after the period of temporary inactivity ends.

Article 42

The resignation application as referred to in Article 41 letter a is submitted to the Financial Services Authority accompanied by documents at least:
a. a stamped statement letter stating that the applicant is resigning and has fulfilled all obligations arising from the Financial Services Authority, and is not currently providing services in the Financial Services Sector; and b. a resignation certificate from the Supporting Profession office for Supporting Professions who are partners in the Supporting Profession office, through the Financial Services Authority's integrated licensing and registration system at the latest 2 (two) months before the planned resignation date.

Article 43

(1) The Financial Services Authority approves or rejects the resignation application as a Supporting Profession as referred to in Article 42 within a maximum period of 14 (fourteen) working days since the resignation application was received in complete form.

(2) In the event that the resignation application is incomplete, the Financial Services Authority provides a notification letter to the Supporting Profession to complete the document requirements at the latest 14 (fourteen) working days from the date of the Financial Services Authority's notification.

(3) In the event that the Supporting Profession does not complete the missing document requirements within a maximum period of 14 (fourteen) working days after the date of the Financial Services Authority's notification letter as referred to in paragraph (2), the Supporting Profession is deemed to have cancelled the resignation application.

(4) In the event that the resignation application as referred to in paragraph (1) is rejected by the Financial Services Authority, the Financial Services Authority provides a notification letter to the Supporting Profession stating that the application is rejected because it does not meet the requirements.

(5) In the event that the Financial Services Authority approves the resignation application, the Supporting Profession meets the condition of permanent inactivity and the Financial Services Authority:
a. issues a decision letter cancelling the registration certificate issued in the name of the Supporting Profession; and b. includes the Supporting Profession in the list of permanently inactive Supporting Professions at the Financial Services Authority.

Article 44

In the event that a Supporting Profession:
a. is being examined by the ministry, agency, supervisory and regulatory authority of the Supporting Profession, the Financial Services Authority, other relevant authorities, and/or other parties; b. has been subject to written reprimands or written warnings from the Financial Services Authority 2 (two) times within the last 2 (two) years calculated from the time the application was submitted in complete form;
c. is fulfilling obligations to be carried out based on recommendations from the ministry, agency, supervisory and regulatory authority of the Supporting Profession, the Financial Services Authority, other relevant authorities, and/or other parties;
d. is serving sanctions from the ministry, agency, supervisory and regulatory authority of the Supporting Profession, the Financial Services Authority, other relevant authorities, and/or other parties; or e. other conditions that can be considered by the Financial Services Authority, the Financial Services Authority rejects the resignation application as referred to in Article 43.

Article 45

A Supporting Profession that meets the condition of permanent inactivity as referred to in Article 40 then:
a. the Financial Services Authority establishes the cancellation of the Supporting Profession registration certificate and declares it invalid throughout the Financial Services Sector; b. the Supporting Profession does not conduct activities in the Financial Services Sector since the date of the decision letter cancelling the Supporting Profession registration certificate; and
c. is included in the list of permanently inactive Supporting Professions at the Financial Services Authority.

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Article 46

(1) In the event that a Supporting Profession is subject to administrative sanctions in the form of cancellation of the Supporting Profession registration certificate and the Supporting Profession is currently providing services in the Financial Services Sector to a Party, the Supporting Profession stops the process of providing services to the Party in the Financial Services Sector.

(2) In the event that the cessation of service provision as referred to in paragraph (1) results in the service provision process not being completed, the Financial Services Authority may provide consideration to the Party to transfer the work to another Supporting Profession in accordance with the provisions of legislation.

(3) A Supporting Profession that meets the conditions as referred to in paragraph (1) does not create or extend new contracts or cooperation for service provision in the Financial Services Sector with Parties.

Third Section
Temporary Inactivity and Permanent Inactivity for Public Accountants and Public Accounting Firms

Article 47

Temporary inactivity and permanent inactivity for Public Accountants and Public Accounting Firms in financial service activities shall be implemented in accordance with Financial Services Authority Regulations regarding the use of Public Accountants and Public Accounting Firms in financial service activities.

CHAPTER VI
MEDIA

Article 48

In the event that the Financial Services Authority's integrated licensing and registration system and/or reporting system cannot be used, the Supporting Profession submits applications and/or reports offline to the Financial Services Authority.

Article 49

In the event that the Financial Services Authority has an information system related to Supporting Professions for updating data and information regarding Supporting Professions recorded on the list of Supporting Professions at the Financial Services Authority, which integrates:
a. registration documents as referred to in Article 8 and Article 10 paragraph (1); b. reports on changes in data and information and activity reports of Supporting Professions; and/or
c. other data and/or information,
which are located in the ministry, agency, or supervisory and regulatory authority of the Supporting Profession, Supporting

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Supporting Professions are not required to submit the registration documents referred to in Article 8 and Article 10 paragraph (1), periodic activity reports of Supporting Professions referred to in Article 25 paragraph (1) letter a, and reports of changes to Supporting Professions' data and information referred to in Article 25 paragraph (1) letter b number 1 to the Financial Services Authority.

Article 50
(1) In the event that the Financial Services Authority's reporting system and/or the integrated licensing and registration system experience technical disturbances or force majeure occurs at the deadline for submitting reports as referred to in Article 25 paragraph (5) and paragraph (6), so that Supporting Professions cannot submit reports, the Financial Services Authority notifies Supporting Professions of the technical disturbance or force majeure. (2) The notification as referred to in paragraph (1) is submitted:
a. directly to Supporting Professions; b. through electronic media; and/or
c. other media.
(3) Supporting Professions submit reports as referred to in Article 25 paragraph (1) at the latest 2 (two) working days after notification from the Financial Services Authority regarding the technical disturbance or force majeure as referred to in paragraph (1) has been resolved. (4) In the event that the Financial Services Authority's integrated licensing and registration system experiences technical disturbances or force majeure occurs, Supporting Professions submit applications, reports, and/or notifications as referred to in Article 6, Article 13, Article 14, Article 15, Article 25, Article 29, Article 32, Article 33, Article 34, and Article 42, offline or via electronic mail to the Financial Services Authority.

CHAPTER VII
OTHER PROVISIONS

Article 51
(1) Restrictions on the provision of Supporting Professions services are carried out in accordance with the provisions of legislation established by ministries, institutions, and/or supervising and overseeing authorities of the relevant Supporting Professions. (2) In addition to the provisions as referred to in paragraph (1), the Financial Services Authority may regulate other provisions regarding restrictions on the provision of Supporting Professions services. https://jdih.ojk.go.id/

Article 52
(1) Public Appraisers who conduct activities in the capital market, insurance, guarantee, pension fund, financing institutions, venture capital companies, microfinance institutions, and/or other financial service institutions are prohibited from providing professional Valuation services to the same Party for more than 3 (three) consecutive times. (2) In the event that Public Appraisers who conduct activities in the capital market, insurance, guarantee, pension fund, financing institutions, venture capital companies, microfinance institutions, and/or other financial service institutions have provided professional Valuation services to the same Party for 3 (three) consecutive times as referred to in paragraph (1), Public Appraisers may accept professional Valuation assignments again from the same Party after 1 (one) year of not performing professional Valuation assignments for that Party, calculated from the date of the Valuation Report on the last professional Valuation assignment. (3) Actuarial Consultants who conduct activities in the insurance, guarantee, and pension fund sectors are prohibited from providing required services to Parties in the insurance, guarantee, and pension fund sectors that are the same for more than 3 (three) consecutive times. (4) In the event that Actuarial Consultants who conduct activities in the insurance, guarantee, and pension fund sectors as referred to in paragraph (3) have provided required services to Parties in the insurance, guarantee, and pension fund sectors that are the same for 3 (three) consecutive times, Actuarial Consultants may provide required services again to Parties in the insurance, guarantee, and pension fund sectors that are the same after 1 (one) time of not providing required services. (5) Supporting Professions that violate the provisions as referred to in paragraph (1) and paragraph (3) are subject to administrative sanctions in the form of:
a. written reprimand or written warning; b. fines;
c. suspension of registration; and/or
d. cancellation of registration.
(6) Administrative sanctions as referred to in paragraph (5) letter b, letter c, or letter d may be imposed with or without being preceded by the imposition of administrative sanctions in the form of written reprimand or written warning as referred to in paragraph (5) letter a. (7) Administrative sanctions in the form of fines as referred to in paragraph (5) letter b may be imposed separately or together with the imposition of administrative sanctions as referred to in paragraph (5) letter a, letter c, or letter d. https://jdih.ojk.go.id/

(8) The Financial Services Authority may announce the imposition of administrative sanctions as referred to in paragraph (5) to the public.

Article 53
In the event that Public Appraisers and/or Actuarial Consultants are assigned through written instructions from the Financial Services Authority, the assignment is not counted in the calculation of the service restriction period as referred to in Article 52.

Article 54
In implementing the fulfillment of this Financial Services Authority Regulation, the Financial Services Authority may:
a. coordinate with ministries, institutions, and/or supervising and overseeing authorities of Supporting Professions and/or Professional Associations; b. request data and/or information from Supporting Professions;
c. summon Supporting Professions;
d. conduct examinations of Supporting Professions; and/or e. take other necessary actions.

Article 55
The Financial Services Authority may follow up on the results of guidance and supervision conducted by ministries, institutions, and/or supervising and overseeing authorities of Supporting Professions, and/or other authorized parties conducting guidance and supervision.

Article 56
The Financial Services Authority, based on certain considerations, may provide approvals or policies that differ from this Financial Services Authority Regulation.

CHAPTER VIII
TRANSITIONAL PROVISIONS

Article 57
(1) Applications for:
a. registration; b. addition of service scope;
c. reduction of service scope;
d. temporary inactivity; e. reactivation; and/or f. resignation, submitted by Supporting Professions and accepted by the Financial Services Authority before this Financial Services Authority Regulation takes effect, are processed in accordance with:
a. Financial Services Authority Regulation Number 38/POJK.05/2015 concerning Registration and Supervision of Actuarial Consultants, Public Accountants, and Appraisers Conducting Activities in the Non-Bank Financial Industry; b. Financial Services Authority Regulation Number 66/POJK.04/2017 concerning Legal Consultants Conducting Activities in the Capital Market;
c. Financial Services Authority Regulation Number 67/POJK.04/2017 concerning Notaries Conducting Activities in the Capital Market;
d. Financial Services Authority Regulation Number 68/POJK.04/2017 concerning Appraisers Conducting Activities in the Capital Market; and e. Financial Services Authority Regulation Number 9 of 2023 concerning the Use of Public Accountant Services and Public Accounting Firms in Financial Services Activities. (2) Supporting Professions that commit violations of Financial Services Authority Regulations regarding Supporting Professions that occurred before this Financial Services Authority Regulation takes effect and are currently under examination by the Financial Services Authority, are subject to administrative sanctions based on the Financial Services Authority Regulations in effect at the time the violation occurred. (3) Supporting Professions that have been registered with the Financial Services Authority before this Financial Services Authority Regulation takes effect must fulfill the requirement documents as referred to in Article 8 letter h at the latest 1 (one) year since this Financial Services Authority Regulation was promulgated. (4) Registration certificates with the Financial Services Authority that have been owned by Supporting Professions before this Financial Services Authority Regulation takes effect, such registration certificates are declared to remain valid. (5) For Public Appraisers and Actuarial Consultants who have held registration certificates in the non-bank financial industry before this Financial Services Authority Regulation takes effect, Public Appraisers and Actuarial Consultants update data and/or information and supporting documents to the Financial Services Authority through the Financial Services Authority's integrated licensing and registration system at the latest 1 (one) year since this Financial Services Authority Regulation was promulgated. (6) The updating of data and/or information and supporting documents as referred to in paragraph (5) is conducted by selecting the service scope in:
a. insurance, guarantee, and pension funds; b. financing institutions, venture capital companies, microfinance institutions, and other financial service institutions; and/or
c. financial sector technology innovation, digital financial assets, and crypto assets.
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CHAPTER IX
CLOSING PROVISIONS

Article 58
At the time this Financial Services Authority Regulation takes effect:
a. Financial Services Authority Regulation Number 38/POJK.05/2015 concerning Registration and Supervision of Actuarial Consultants, Public Accountants, and Appraisers Conducting Activities in the Non-Bank Financial Industry (State Gazette of the Republic of Indonesia Year 2015 Number 361, Supplement to the State Gazette of the Republic of Indonesia Number 5807); b. Financial Services Authority Regulation Number 66/POJK.04/2017 concerning Legal Consultants Conducting Activities in the Capital Market (State Gazette of the Republic of Indonesia Year 2017 Number 287, Supplement to the State Gazette of the Republic of Indonesia Number 6155);
c. Financial Services Authority Regulation Number 67/POJK.04/2017 concerning Notaries Conducting Activities in the Capital Market (State Gazette of the Republic of Indonesia Year 2017 Number 288, Supplement to the State Gazette of the Republic of Indonesia Number 6156); and
d. Financial Services Authority Regulation Number 68/POJK.04/2017 concerning Appraisers Conducting Activities in the Capital Market (State Gazette of the Republic of Indonesia Year 2017 Number 289, Supplement to the State Gazette of the Republic of Indonesia Number 6157), are revoked and declared invalid.

Article 59
This Financial Services Authority Regulation takes effect 1 (one) year since the date of promulgation. https://jdih.ojk.go.id/

This copy is consistent with the original
Director of Legal Development
Legal Department signed
Aat Windradi

For the knowledge of everyone, ordering the promulgation of this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on 26 February 2025
CHAIRMAN OF THE COMMISSIONERS BOARD
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
MAHENDRA SIREGAR

Promulgated in Jakarta on 3 March 2025
MINISTER OF LAW OF THE REPUBLIC OF INDONESIA, signed SUPRATMAN ANDI AGTAS

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2025 NUMBER 10/OJK https://jdih.ojk.go.id/

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
REPUBLIC OF INDONESIA
NUMBER 5 OF 2025
CONCERNING
SUPPORTING PROFESSIONS IN THE FINANCIAL SERVICES SECTOR

I. GENERAL
The existence of Supporting Professions is one of the important factors in the development of the national financial services industry.
Considering the significant role of Supporting Professions in the financial services industry in providing assurance services on financial reports, valuations of assets, legal authenticity of authentic deeds, and/or providing legal opinions in the context of corporate actions, Supporting Professions operating in the Financial Services Sector must be independent, objective, and professional to meet the needs of service users and uphold public trust in the Financial Services Sector.

In realizing an integrated regulatory and supervisory system for all activities in the Financial Services Sector mandated to the Financial Services Authority, strong and effective supporting infrastructure is needed, including the role of reliable and competent Supporting Professions.

Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK), which is a reform in financial regulations, also mandates the importance of strengthening Supporting Professions, including that Supporting Professions must have licenses from ministries, institutions, and/or supervising and overseeing authorities of Supporting Professions, and must be registered with the Financial Services Authority if providing services in the Financial Services Sector. Furthermore, UU P2SK grants the Financial Services Authority the authority to conduct guidance and supervision of Supporting Professions through coordination with ministries, institutions, and/or supervising and overseeing authorities of Supporting Professions. Strengthening coordination with ministries, institutions, and/or supervising and overseeing authorities of Supporting Professions as well as Professional Associations is a key factor in strengthening the supervision of Supporting Professions in the Financial Services Sector. UU P2SK also grants the Financial Services Authority the authority to formulate further regulations regarding requirements and procedures for the registration of Supporting Professions in the Financial Services Sector in accordance with the duties and authority of the Financial Services Authority.

To create regulatory equality among Supporting Professions in the Financial Services Sector and to follow up on the mandate of UU P2SK, regulations regarding Supporting Professions in the Financial Services Sector are needed as the legal basis for Supporting Professions that will conduct activities in the Financial Services Sector to register with the Financial Services Authority with specific requirements and registration procedures, including the competency aspects of Supporting Professions in an integrated manner. Through this Financial Services Authority Regulation that regulates the entire Financial Services Sector, it is expected to realize competent and integrity-driven Supporting Professions in performing their duties and to ensure the sustainable and stable growth of the Financial Services Sector.

Based on the above, it is necessary to formulate a Financial Services Authority Regulation concerning Supporting Professions in the Financial Services Sector.

II. ARTICLE BY ARTICLE

Article 1
Sufficiently clear.

Article 2
Letter a
Sufficiently clear.
Letter b
Sufficiently clear.
Letter c
Sufficiently clear.
Letter d
Sufficiently clear.
Letter e
Sufficiently clear.
Letter f
This provision is intended to accommodate the possibility of the need for other Supporting Professions services to provide opinions or valuations in accordance with the development of the Financial Services Sector in the future and to be registered or licensed with the Financial Services Authority, including:

practicing accountants;
tax consultants;
financial services Sharia experts;
providers of registration statement preparation services; or
parties who conduct analyses and provide opinions on:
a) the feasibility of corporate actions; b) mining potential; c) transactions; or d) compliance with sustainable finance principles.

Article 3
Paragraph (1)
Letter a
Licenses or other forms equivalent to licenses from ministries, institutions, and/or supervising and overseeing authorities of the relevant Supporting Professions include:
1. Public Accountants and Actuarial Consultants, licenses from the minister in charge of financial affairs;
2. Notaries who have been appointed and have taken the oath as Notaries by the minister in charge of legal affairs;
3. Legal Consultants who have been appointed as advocates in accordance with the Law concerning advocates and are members of the relevant Professional Association of Legal Consultants; and
4. Public Appraisers, licenses from the minister in charge of financial affairs.
Letter b
Sufficiently clear.
Paragraph (2)
The use of Supporting Professions in the Financial Services Sector includes:
1. the use of Public Appraisers to conduct Valuation activities in accordance with Financial Services Authority Regulations regarding bank asset quality;
2. the use of Public Appraisers to conduct business and/or property Valuation activities in the capital market in accordance with Financial Services Authority Regulations regarding the use of Public Appraisers in the capital market;
3. the use of Public Appraisers to conduct Valuation activities in the non-bank financial industry in accordance with Financial Services Authority Regulations regarding the use of Public Appraisers in the non-bank financial industry;
4. the use of Public Accountants in accordance with Financial Services Authority Regulations regarding the use of Public Accountant services and Public Accounting Firms in financial services activities;
5. the use of Actuarial Consultants in accordance with Financial Services Authority Regulations regarding the use of Actuarial Consultants in the non-bank financial industry;
6. the use of Legal Consultants in accordance with Financial Services Authority Regulations regarding the use of Legal Consultants in the capital market;
7. the use of Notaries in accordance with Financial Services Authority Regulations regarding the use of Notaries in the capital market; or
8. the use of Supporting Professions as determined by the Financial Services Authority.
Public Appraisers conducting Valuations in the banking sector and non-bank financial industries are independent appraisers as regulated in Financial Services Authority Regulations in the banking sector and non-bank financial industries. Paragraph (3) Sufficiently clear. Paragraph (4) Sufficiently clear. Paragraph (5) Sufficiently clear. Paragraph (6) Sufficiently clear. Paragraph (7) Sufficiently clear.

Article 4
Sufficiently clear.

Article 5
Exceptions are necessary to accommodate the development of activities in the Financial Services Sector that require opinions from parties with specific expertise related to activities to be conducted in the Financial Services Sector. The mentioned exceptions include, among others, in the capital market sector, considering:
a. the ease of small and medium-scale business actors in obtaining access to capital market funding; b. the absence of Professional Associations supervising parties with the mentioned expertise; and
c. the party has obtained licenses from capital market authorities in other countries or based on the laws of the mentioned countries to conduct activities in the capital market without licenses, approvals, or registrations from capital market authorities.

Article 6
Sufficiently clear.

Article 7
Paragraph (1)
Letter a
See the explanation of Article 3 paragraph (1) letter a.
Letter b
Sufficiently clear.
Letter c
Sufficiently clear.
Letter d
Sufficiently clear.
Paragraph (2)
Letter a
The term "previous authority" refers to the Capital Market Supervisory Agency and Financial Institutions.
Letter b
Sufficiently clear.
Letter c
Non-performing loans and/or financing include:
1. non-performing loans and/or financing recorded in the financial information service system;
2. non-performing loans and/or financing not yet reported by financial service institutions in the financial information service system, but based on research conducted by the Financial Services Authority, such loans and/or financing have met the criteria for being classified as non-performing in accordance with legislation; and/or
3. failure to fulfill obligations to settle securities transactions in securities companies.
Letter d
Sufficiently clear.
Letter e
Number 1
Examples of not holding dual positions in other Supporting Professions offices, as prohibited by legislation or ethical codes for the same person, include if Legal Consultant A works in Legal Consultant ABC office, then Legal Consultant A cannot hold dual positions in Legal Consultant DEF office. Number 2 Sufficiently clear. Number 3 Examples of other positions include State Officials. Letter f Sufficiently clear. Letter g Independence includes:
a. having no material financial interests with Parties, directly or indirectly, such as:
1. investments in Parties; and/or
2. other interests in Parties that may cause conflicts of interest;
b. having no employment relationships with Parties, such as:
1. holding dual positions as key employees of Parties;
2. having former colleagues or professional employees from Supporting Professions offices who work as key employees at Parties, except after more than 1 (one) year of no longer working at the relevant Supporting Professions office;
3. having colleagues or professional employees from Supporting Professions offices who previously worked as key employees at Parties within the last 6 (six) months, except if the individual did not participate in performing Supporting Professions assignments for such Parties during the provision of Supporting Professions services;
c. having no family relationships due to marriage and lineage up to the second degree, both horizontally and vertically, with key employees, directors, and/or commissioners or equivalents of Parties;
d. having no material business relationships, directly or indirectly, with Parties, key employees of Parties, or major and controlling shareholders of Parties or equivalents; e. not providing other services to Parties that may cause conflicts of interest; f. providing services or products to Parties based on contingent fees or commissions, or receiving contingent fees or commissions from Parties; g. having no legal disputes with Parties; and/or h. the absence of other matters that may cause conflicts of interest between Parties and Supporting Professions. The term "key employees" as referred to in letter e number 1 refers to persons who have the authority and responsibility to plan, lead, and/or control company activities, including members of the Board of Commissioners, members of the Board of Directors, and managers of Parties. The term "equivalents" as referred to in letter e includes, among others, managers and/or supervisors of Parties in the form of legal entity cooperatives. Business relationships as referred to in letter d do not include business relationships where Supporting Professions and/or Supporting Professions offices are consumers of Parties' goods or services in the context of routine activities. The term "major and controlling shareholders" as referred to in letter d is as regulated in legislation regarding major and controlling shareholders in the Financial Services Sector. The term "contingent fees" as referred to in letter f refers to fees established for the execution of professional services that will only be charged if there are specific findings or results, where the fee amount depends on those specific findings or results, except if fees are established by courts or regulatory bodies or in the case of taxation, if the basis for determination is the outcome of legal settlements or findings of regulatory bodies. Letter h Sufficiently clear. Letter i Professional standards, quality control standards, and professional ethical codes in accordance with professional regulations for each Supporting Profession. The term "professional standards for Public Appraisers" refers to Indonesian Valuation Standards and other international Valuation Standards that apply internationally if not yet regulated in SPI, insofar as they do not conflict with Financial Services Authority Regulations, and the ethical code for Public Appraisers is the Indonesian Appraiser Ethical Code. The term "professional standards for Actuarial Consultants" refers to actuarial practice standards and the ethical code for Actuarial Consultants is the Actuarial Ethical Code drafted by the Actuarial Consultants Association, which is established

by the Minister in charge of financial affairs.

The term “professional standards and code of ethics for Legal Consultants in the capital market sector” refers to the professional standards and code of ethics drafted by the Association of Legal Consultants in the Financial Sector.

The term “code of ethics for Notaries” refers to the Notary code of ethics drafted by the professional organization of the Notary position as referred to in the Law regarding the Notary position.

Paragraph (3)

The Program Organizer coordinates with the Financial Services Authority, among others, in determining professional education material, the number of professional credit units, and/or the submission of participant education recapitulation data.

Paragraph (4)

Is clear enough.

Article 8

Letter a

For Notaries, supporting documents for the license consist of the appointment decision and the minutes of the oath as a Notary from the ministry in charge of legal affairs.

For Legal Consultants, it consists of the appointment decision as an advocate from the competent authority in accordance with the Law on Advocates.

Letter b

Is clear enough.

Letter c

Is clear enough.

Letter d

Is clear enough.

Letter e

Is clear enough.

Letter f

Is clear enough.

Letter g

Is clear enough.

Letter h

Proof of registration can include screenshots of the electronic mail approval of registration from the Reporting and Analysis Center for Financial Transactions and/or screenshots of the active status on the goAML system dashboard.

Article 9

Letter a

The term “2 (two) levels of control” refers to Legal Consultants who are responsible for signing reports and intermediate supervisors who supervise operational staff.

Letter b

The Public Appraiser License held must correspond to the scope of Valuation activities in the capital market requested.

The term “2 (two) levels of control” refers to Public Appraisers who are responsible for signing reports and intermediate supervisors who supervise operational staff.

Article 10

Paragraph (1)

Is clear enough.

Paragraph (2)

Letter a

Is clear enough.

Letter b

Professional education to fulfill competence and knowledge in the capital market with a minimum number of professional credit units to be fulfilled as determined by the Financial Services Authority.

Article 11

Is clear enough.

Article 12

Is clear enough.

Article 13

Letter a

Is clear enough.

Letter b

The term “supporting documents” refers to documents explaining evidence of competence and knowledge held in the Financial Services Sector in accordance with the additional Financial Services Sector to be selected.

Example:

Supporting Profession “X” is registered with the Financial Services Authority in the banking sector. If Supporting Profession “X” also wishes to provide services to Parties in the capital market, derivative finance, and carbon exchange and/or insurance, guaranteeing, and pension funds sectors, Supporting Profession “X” must add the scope of service provision in the capital market, derivative finance, and carbon exchange and/or insurance, guaranteeing, and pension funds sectors with the Financial Services Authority.

Article 14

Paragraph (1)

Is clear enough.

Paragraph (2)

Letter a

Is clear enough.

Letter b

A resume containing professional assignment data that must at least include the name of the client, the year of Valuation, the purpose of Valuation, and the type of Valuation, as well as work experience for at least 3 (three) years within the scope of Valuation corresponding to the classification of the request for addition of the scope of Valuation activities submitted, along with the job title in that work.

Letter c

Is clear enough.

Paragraph (3)

Is clear enough.

Article 15

Paragraph (1)

Example:

Supporting Profession “Y” is registered with the Financial Services Authority in the banking sector, capital market sector, derivative finance, and carbon exchange, as well as the insurance, guaranteeing, and pension funds sector. If Supporting Profession “Y” only wishes to provide services to Parties in the banking and capital market, derivative finance, and carbon exchange sectors, then Supporting Profession “Y” can reduce the scope of service provision in the insurance, guaranteeing, and pension funds sector.

Paragraph (2)

Is clear enough.

Paragraph (3)

Is clear enough.

Paragraph (4)

Is clear enough.

Article 16

Paragraph (1)

Is clear enough.

Paragraph (2)

Additional documents related to fulfilling requirements include, among others, the correspondence between the submitted documents and the requirements to be fulfilled, or other documents required by the Financial Services Authority for the review of the application.

Paragraph (3)

Is clear enough.

Paragraph (4)

Is clear enough.

Paragraph (5)

Is clear enough.

Paragraph (6)

Is clear enough.

Article 17

Paragraph (1)

Letter a

See the explanation of Article 7 paragraph (2) letter a.

Letter b

Is clear enough.

Letter c

See the explanation of Article 7 paragraph (2) letter c.

Letter d

Is clear enough.

Letter e

See the explanation of Article 7 paragraph (2) letter e.

Letter f

Is clear enough.

Letter g

See the explanation of Article 7 paragraph (2) letter g.

Letter h

Is clear enough.

Letter i

See the explanation of Article 7 paragraph (2) letter i.

Paragraph (2)

Is clear enough.

Paragraph (3)

Is clear enough.

Paragraph (4)

Is clear enough.

Paragraph (5)

Is clear enough.

Paragraph (6)

Is clear enough.

Paragraph (7)

Is clear enough.

Paragraph (8)

Is clear enough.

Article 18

Paragraph (1)

Letter a

The term “participating in CPE” means fulfilling the number of professional credit units to be fulfilled as determined by the Financial Services Authority.

The CPE Organizer coordinates with the Financial Services Authority, among others, in determining CPE material, the number of professional credit units, and/or the submission of participant CPE recapitulation data.

Letter b

Is clear enough.

Letter c

Is clear enough.

Letter d

Is clear enough.

Paragraph (2)

Is clear enough.

Paragraph (3)

Is clear enough.

Article 19

Is clear enough.

Article 20

Paragraph (1)

Is clear enough.

Paragraph (2)

Is clear enough.

Paragraph (3)

Is clear enough.

Paragraph (4)

Letter a

Is clear enough.

Letter b

Is clear enough.

Letter c

The definition of affiliation refers to the definition of affiliation in the Law regarding the capital market.

Paragraph (5)

Is clear enough.

Paragraph (6)

Is clear enough.

Paragraph (7)

Is clear enough.

Paragraph (8)

Is clear enough.

Paragraph (9)

Is clear enough.

Article 21

Is clear enough.

Article 22

Specific actions include, among others, orders to make adjustments, fulfill, or improve in accordance with statutory regulations.

Article 23

Is clear enough.

Article 24

Is clear enough.

Article 25

Paragraph (1)

Letter a

Is clear enough.

Letter b

Number 1

All data and information of Supporting Professions submitted to the Financial Services Authority at the time of registration must be reported if there are changes.

Changes in data and information include, among others:

a) changes in the license status of Supporting Professions, such as revocation of license by the Minister;

b) addition of the scope of Valuation activities based on the Public Appraiser License from the minister in charge of financial affairs;

c) temporary cessation of service provision based on Ministerial approval;

d) license extension; or

e) transfer to another Supporting Profession office.

Number 2

Submission to the Financial Services Authority is carried out through the work unit implementing supervisory functions according to the Financial Services Sector.

Paragraph (2)

Supporting Professions that do not provide services in the Financial Services Sector during the reporting period must submit an explanation that the Supporting Profession does not provide services in the Financial Services Sector in the periodic activity report.

Paragraph (3)

Is clear enough.

Paragraph (4)

Is clear enough.

Paragraph (5)

Is clear enough.

Paragraph (6)

Is clear enough.

Paragraph (7)

Is clear enough.

Paragraph (8)

Is clear enough.

Paragraph (9)

Is clear enough.

Paragraph (10)

Is clear enough.

Article 26

Is clear enough.

Article 27

Is clear enough.

Article 28

Is clear enough.

Article 29

Is clear enough.

Article 30

Is clear enough.

Article 31

Paragraph (1)

Letter a

Supporting Professions are recorded in the list of temporarily inactive Supporting Professions by referring to the leave approval letter from the Financial Services Authority.

Letter b

Supporting Professions are recorded in the list of temporarily inactive Supporting Professions by referring to documents including:

administrative sanction letter in the form of license suspension from the Minister; or
administrative sanction letter in the form of registration suspension from the Financial Services Authority.

Letter c

Supporting Professions are recorded in the list of temporarily inactive Supporting Professions by referring to the Minister’s letter approving the temporary cessation of service provision.

Letter d

Is clear enough.

Letter e

Is clear enough.

Letter f

Example of other reasons:

Supporting Professions are unable to perform their duties or are medically estimated to be unable to perform duties for more than 6 (six) consecutive months.

Paragraph (2)

Letter a

Is clear enough.

Letter b

Is clear enough.

Letter c

Is clear enough.

Letter d

Public Accountants are not exempted from participating in CPE during the period of temporary inactivity as regulated in the Financial Services Authority Regulation regarding the use of Public Accountant and Public Accountant Firm services in financial service activities.

Letter e

Is clear enough.

Paragraph (3)

Is clear enough.

Paragraph (4)

Is clear enough.

Article 32

Paragraph (1)

Is clear enough.

Paragraph (2)

Is clear enough.

Paragraph (3)

Is clear enough.

Paragraph (4)

Example:

Public Appraiser “X” has applied for leave to the Financial Services Authority for 3 (three) years from June 1, 2024 to May 31, 2027.

If Public Appraiser “X” wishes to extend the leave period by 1 (one) year until May 31, 2028, then Public Appraiser “X” must submit a letter of request to the Financial Services Authority no later than May 11, 2027 (14 working days before May 31, 2027).

Paragraph (5)

Example:

Public Appraiser “X” has applied for leave to the Financial Services Authority for 3 (three) years from June 1, 2024 to May 31, 2027.

If Public Appraiser “X” wishes to shorten the leave period by 1 (one) year until May 31, 2025, then Public Appraiser “X” must submit a letter of request to the Financial Services Authority no later than May 11, 2025 (14 working days before May 31, 2025).

Paragraph (6)

Is clear enough.

Paragraph (7)

Example:

Public Appraiser “X” has applied for leave to the Financial Services Authority for 3 (three) years from June 1, 2025 to May 31, 2028.

If Public Appraiser “X” wishes to shorten the leave period to become December 10, 2025 (less than 1 (one) year) and during the implementation of leave from June 1, 2025 to December 10, 2025 is unable to participate in CPE, then in 2026 Public Appraiser “X” is required to participate in CPE with the number of professional credit units accumulated from the professional credit units of 2025 and the professional credit units of 2026.

Paragraph (8)

Is clear enough.

Paragraph (9)

Is clear enough.

Paragraph (10)

Is clear enough.

Article 33

Is clear enough.

Article 34

Is clear enough.

Article 35

Is clear enough.

Article 36

Is clear enough.

Article 37

Is clear enough.

Article 38

Is clear enough.

Article 39

Is clear enough.

Article 40

Letter a

Is clear enough.

Letter b

Is clear enough.

Letter c

For Notaries, ceasing or being dismissed as a Notary as regulated in the Law regarding the Notary position.

For Legal Consultants, ceasing or being dismissed from their profession as regulated in the Law on Advocates.

Letter d

Is clear enough.

Letter e

Is clear enough.

Article 41

Is clear enough.

Article 42

Is clear enough.

Article 43

Is clear enough.

Article 44

Letter a

Other related authorities include, among others, Bank Indonesia, the Attorney General’s Office, the Police, and international supervisory authorities.

Other parties include, among others, Professional Associations and Foreign Professional Associations that set international standards regarding Supporting Professions.

Letter b

Is clear enough.

Letter c

Is clear enough.

Letter d

Is clear enough.

Letter e

Example of other conditions that may be considered by the Financial Services Authority:

There is a limitation in the number of Supporting Professions in certain areas causing the Financial Services Authority to need to consider rejecting the resignation application submitted by the Supporting Profession.

Article 45

Is clear enough.

Article 46

Is clear enough.

Article 47

Is clear enough.

Article 48

Submission of applications and/or reports is submitted to the Financial Services Authority through the work unit implementing integrated licensing functions.

Article 49

Letter a

Is clear enough.

Letter b

Is clear enough.

Letter c

Other data and/or information includes, among others, recapitulation of professional education and CPE submitted by professional education and CPE organizers.

Article 50

Paragraph (1)

Is clear enough.

Paragraph (2)

Letter a

Directly, for example, through mail.

Letter b

Electronic media, for example, electronic mail.

Letter c

Other media, for example, mass media.

Paragraph (3)

Is clear enough.

Paragraph (4)

See the Explanation of Article 48.

Article 51

Is clear enough.

Article 52

Paragraph (1)

Example:

Public Appraiser Z provides professional Valuation services to PT ABC, which operates in the capital market, insurance, guaranteeing, pension funds, financing institutions, venture capital companies, microfinance institutions, and/or other financial service institutions, in 2024, 2025, and 2026, then Public Appraiser Z can only provide their services to PT ABC for professional Valuation services for 3 (three) consecutive years starting from the date of the Valuation Report on the first Professional Valuation Assignment. Given that Public Appraiser Z has provided professional Valuation services to PT ABC in 2024, 2025, and 2026 for 3 (three) consecutive years, then Public Appraiser Z cannot provide professional Valuation services to PT ABC in 2027.

Paragraph (2)

Example:

Public Appraiser Z has provided professional Valuation services to PT ABC, which operates in the capital market, insurance, guaranteeing, pension funds, financing institutions, venture capital companies, microfinance institutions, and/or other financial service institutions, in 2024, 2025, and 2026, then Public Appraiser Z cannot provide their services to PT ABC in 2027 and Public Appraiser Z can resume providing their services to PT ABC in 2028.

Paragraph (3)

The limit of at most 3 (three) times in this paragraph is not affected by the distance between frequencies.

Example:

Actuarial Consultant A provides actuarial valuation services for PT XYZ, which operates in the insurance, guaranteeing, and/or pension funds sector, every year, namely in 2026, 2027, and 2028, then Actuarial Consultant A can only provide their services to PT XYZ for actuarial valuation for 3 (three) consecutive years.
Actuarial Consultant A provides valuation services for PT XYZ, which operates in the insurance, guaranteeing, and/or pension funds sector, every 3 (three) years, namely in 2026, 2029, and 2032, then Actuarial Consultant A can provide their services for 3 (three) consecutive actuarial valuations.

Paragraph (4)

Example:

Actuarial Consultant A has provided actuarial valuation services for PT XYZ, which operates in the insurance, guaranteeing, and/or pension funds sector, every year, namely in 2026, 2027, and 2028, then Actuarial Consultant A cannot provide their services to PT XYZ in 2029 and Actuarial Consultant A can resume providing their services to PT XYZ in 2030.
Actuarial Consultant A has provided actuarial valuation services for PT ABC, which operates in the insurance, guaranteeing, and/or pension funds sector, every 3 (three) years, namely in 2026, 2029, and 2032, then Actuarial Consultant A cannot provide their services to PT ABC in 2035 and Actuarial Consultant A can resume providing their services to PT ABC in 2038.

Paragraph (5)

Is clear enough.

Paragraph (6)

Is clear enough.

Paragraph (7)

Is clear enough.

Paragraph (8)

Is clear enough.

Article 53

Example:

Actuarial Consultant C provides actuarial valuation services for PT FGH, which operates in the insurance, guaranteeing, and/or pension funds sector, every year in 2024, 2025, and 2026, then Actuarial Consultant C can only provide their services to PT FGH for actuarial valuation for 3 (three) consecutive years. If in 2027 there is an assignment to Actuarial Consultant C through a written instruction from the Financial Services Authority to provide actuarial valuation services for PT FGH, then Actuarial Consultant C can still provide actuarial valuation services to PT FGH based on the written instruction from the Financial Services Authority mentioned.

Article 54

Is clear enough.

Article 55

Is clear enough.

Article 56

Certain considerations include, among others, to:

a. protect public interest;

b. protect industry growth; and/or

c. protect healthy business competition.

Article 57

Is clear enough.

Article 58

Is clear enough.

Article 59

Is clear enough.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 140/OJK

Part Two

Addition and Reduction of Service Scope

Part Three

Review of Registration Applications

CHAPTER IV

OBLIGATIONS

Part One

General

Part Two

Reporting

Lineage: No known changes

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