FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 43 /POJK.04/2016

CONCERNING

CLEARING AND GUARANCE INSTITUTION REPORTS

BY THE GRACE OF THE ALMIGHTY GOD,

THE COMMISSIONERS COUNCIL OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that with the enactment of Law Number 21 of 2011 concerning the Financial Services Authority, since December 31, 2012, the functions, duties, and authority for regulating and supervising financial services activities in the Capital Market sector, including regulations regarding Clearing and Guarantee Institution Reports, have transferred from the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority; b. that in order to provide clarity and certainty regarding regulations on Clearing and Guarantee Institution reports, regulations on Clearing and Guarantee Institution reports issued prior to the establishment of the Financial Services Authority need to be changed into a Financial Services Authority Regulation;
c. that based on the considerations as referred to in letters a and b, it is necessary to establish a Financial Services Authority Regulation concerning Clearing and Guarantee Institution Reports;

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA
COPY

Considering:

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

DECIDES:
Establish: FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING CLEARING AND GUARANTEE INSTITUTION REPORTS.

CHAPTER I

GENERAL PROVISIONS

Article 1

In this Financial Services Authority Regulation, Clearing and Guarantee Institution means a Party that provides clearing and guarantee services for the settlement of Stock Exchange Transactions.

CHAPTER II

TYPES OF REPORTS

Article 2

Clearing and Guarantee Institutions are required to submit activity reports to the Financial Services Authority, including:
a. daily reports regarding clearing and guarantee; b. monthly reports containing:

1. recapitulation of activities during the period, accompanied by statistics on the development of clearing and guarantee volumes;
2. reports regarding Stock Exchange Members who are members of the Clearing and Guarantee Institution; and
3. activities of users of Clearing and Guarantee Institution services;
   c. semi-annual financial reports and annual financial reports that have been audited by Accountants registered with the Financial Services Authority, accompanied by the opinion of such Accountants;
   d. budget realization and profit utilization reports; e. reports on the organization of the General Meeting of Shareholders; f. reports regarding changes in the status of users of Clearing and Guarantee Institution services; g. reports regarding the imposition of sanctions by the Clearing and Guarantee Institution against users of Clearing and Guarantee Institution services; and h. reports regarding special events, such as financial difficulties of users of Clearing and Guarantee Institution services.

CHAPTER III

SUBMISSION OF CLEARING AND GUARANTEE INSTITUTION REPORTS

First Section

Electronic Documents

Article 3

The submission of activity reports by Clearing and Guarantee Institutions to the Financial Services Authority as referred to in Article 2 may be done electronically through printed documents or in the form of electronic documents.

Article 4

The Financial Services Authority's receipt of activity reports submitted by Clearing and Guarantee Institutions as referred to in Article 2 and Article 3 is calculated based on the time the report is received by the Financial Services Authority in the form of printed documents or electronic documents.

Second Section

Submission Timeframes and Publication of Reports

Article 5

Daily clearing and guarantee reports as referred to in Article 2 letter a are required to be submitted to the Financial Services Authority no later than the next business day.

Article 6

(1) Monthly reports as referred to in Article 2 letter b include the quantity and type of Securities cleared and guaranteed, the quantity of Stock Exchange Transactions settled, and other information requested by the Financial Services Authority related to its function as a Clearing and Guarantee Institution. (2) Monthly reports as referred to in paragraph (1) are required to be submitted to the Financial Services Authority no later than the 12th (twelfth) day of the following month.

Article 7

(1) Semi-annual financial reports are required to be submitted to the Financial Services Authority no later than 60 (sixty) days from the end of the period.
(2) Annual financial reports are required to be submitted to the Financial Services Authority no later than 90 (ninety) days from the end of the fiscal year.
(3) Semi-annual financial reports and annual financial reports as referred to in paragraph (1) and paragraph (2) are required to be published in at least 2 (two) daily newspapers in the Indonesian language, 1 (one) of which has national circulation, within no later than 30 (thirty) days from the date of the respective Accountant's report. (4) In the event that the Accountant provides an opinion other than a Fair Opinion without Qualification regarding the semi-annual financial reports and annual financial reports as referred to in paragraph (1) and paragraph (2), the Financial Services Authority may summon Board of Directors members and/or conduct examinations to obtain further information.

Article 8

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

Article 9

Reports on the organization of the General Meeting of Shareholders as referred to in Article 2 letter e are required to be submitted to the Financial Services Authority no later than 2 (two) days after the date of the General Meeting of Shareholders of the Clearing and Guarantee Institution.

Article 10

Reports regarding changes in the status of users of Clearing and Guarantee Institution services as referred to in Article 2 letter f are required to be submitted to the Financial Services Authority no later than 2 (two) days after such changes occur.

Article 11

Reports regarding the imposition of sanctions by the Clearing and Guarantee Institution against users of Clearing and Guarantee Institution services and reports regarding special events as referred to in Article 2 letter g and letter h are required to be submitted to the Financial Services Authority no later than the next day.

Article 12

In the event that the submission deadlines for reports as referred to in Article 6, Article 7 paragraph (1) and paragraph (2), Article 8, Article 9, Article 10, and Article 11 fall on a holiday, such reports are required to be submitted on the next business day.

CHAPTER IV

SANCTION PROVISIONS

Article 13

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

Article 14

In addition to administrative sanctions as referred to in Article 13 paragraph (1), the Financial Services Authority may take specific actions against any party that violates the provisions of this Financial Services Authority Regulation.

Article 15

The Financial Services Authority may announce the imposition of administrative sanctions as referred to in Article 13 paragraph (1) and specific actions as referred to in Article 14 to the public.

CHAPTER V

CLOSING PROVISIONS

Article 16

Upon the enactment of this Financial Services Authority Regulation, the Decision of the Head of the Capital Market Supervisory Agency Number Kep-66/PM/1996 dated January 17, 1996 concerning Clearing and Guarantee Institution Reports, along with Regulation Number X.B.1 which is its attachment, are revoked and declared invalid.

Article 17

This Financial Services Authority Regulation takes effect upon being enacted.

In order that everyone knows it, it is ordered to enact this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on December 2, 2016

CHAIRMAN OF THE COMMISSIONERS COUNCIL
FINANCIAL SERVICES AUTHORITY,

signed
MULIAMAN D. HADAD

Enacted in Jakarta on December 7, 2016

MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,

signed
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2016 NUMBER 272

Copy matches the original
Legal Director 1
Legal Department

signed
Yuliana

EXPLANATION

OF

FINANCIAL SERVICES AUTHORITY REGULATION

NUMBER 43 /POJK.04/2016

CONCERNING

CLEARING AND GUARANTEE INSTITUTION REPORTS

I. GENERAL

That since December 31, 2012, the functions, duties, and authority for regulating and supervising financial services activities in the Capital Market, Insurance, Pension Fund, Financing Institutions, and Other Financial Service Institutions sectors have transferred from the Minister of Finance and the Capital Market Supervisory Agency and Financial Institutions to the Financial Services Authority.

In light of the above, it is necessary to reorganize the existing regulatory structure, particularly those related to the Capital Market sector, by converting Capital Market Supervisory Agency and Financial Institutions regulations related to the Capital Market sector into Financial Services Authority Regulations. This reorganization is conducted to ensure that there are Financial Services Authority Regulations regarding the Capital Market sector that are consistent with Financial Services Authority Regulations in other sectors.

Based on the background and aspects mentioned above, it is necessary to replace the legislation in the Capital Market sector regulating Clearing and Guarantee Institution Reports, namely the Decision of the Head of the Capital Market Supervisory Agency Number Kep-66/PM/1996 dated January 17, 1996 concerning Clearing and Guarantee Institution Reports along with Regulation Number X.B.1 which is its attachment, into a Financial Services Authority Regulation concerning Clearing and Guarantee Institution Reports.

II. ARTICLE BY ARTICLE

Article 1

Sufficiently clear.

Article 2

Sufficiently clear.

Article 3

Sufficiently clear.

Article 4

Sufficiently clear.

Article 5

Sufficiently clear.

Article 6

Sufficiently clear.

Article 7

Sufficiently clear.

Article 8

Sufficiently clear.

Article 9

Sufficiently clear.

Article 10

Sufficiently clear.

Article 11

Sufficiently clear.

Article 12

Sufficiently clear.

Article 13

Sufficiently clear.

Article 14

Sufficiently clear.

Article 15

Sufficiently clear.

Article 16

Sufficiently clear.

Article 17

Sufficiently clear.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 5968