LogoRegulatory Alerts
2026-07-24

Added · Updated

Procedure for the Organization of Carbon Trading Through the Carbon Exchange

The Financial Services Authority (OJK) establishes the procedures for organizing carbon trading through the Carbon Exchange, replacing Circular Letter No. 12/SEOJK.04/2023. The regulation defines eligible carbon units, including Emission Allowances and Emission Reduction Certificates, and sets capital, shareholder integrity, and director/commissioner competency requirements for exchange organizers. It mandates OJK approval for shareholders and outlines specific documentation and eligibility criteria for trading both domestic and foreign carbon units.

Otoritas Jasa Keuangan (Financial Services Authority) logo

Indonesia

Otoritas Jasa Keuangan (Financial Services Authority)

Click to view thumbnail

EXTRACT MEMBER OF THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 6 OF 2026 CONCERNING PROCEDURE FOR THE ORGANIZATION OF CARBON TRADING THROUGH THE CARBON EXCHANGE BY THE GRACE OF GOD THE ALMIGHTY, MEMBER OF THE BOARD OF COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering: that to implement the provisions of Financial Services Authority Regulation Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange (State Gazette of the Republic of Indonesia Year 2023 Number 24/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 48/OJK) as amended by Financial Services Authority Regulation Number 10 of 2026 concerning Amendment to Financial Services Authority Regulation Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange (State Gazette of the Republic of Indonesia Year 2026 Number 18/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 201/OJK), it is necessary to establish a Member of the Board of Commissioners of the Financial Services Authority Regulation concerning the Procedure for the Organization of Carbon Trading through the Carbon Exchange; Recalling: 1. Law Number 8 of 1995 concerning the Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64, Supplement to the State Gazette of the Republic of Indonesia Number 3608) as last amended by Law Number 4 of 2026 concerning Amendment to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (State Gazette of the Republic of Indonesia Year 2026 Number 62, Supplement to the State Gazette of the Republic of Indonesia Number 7180); 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) as last amended by Law Number 4 of 2026 concerning Amendment to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (State Gazette of the Republic of Indonesia Year 2026 Number 62, Supplement to the State Gazette of the Republic of Indonesia Number 7180); 3. 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) as last amended by Law Number 4 of 2026 concerning Amendment to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (State Gazette of the Republic of Indonesia Year 2026 Number 62, Supplement to the State Gazette of the Republic of Indonesia Number 7180); 4. Financial Services Authority Regulation Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange (State Gazette of the Republic of Indonesia Year 2023 Number 24/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 48/OJK) as amended by Financial Services Authority Regulation Number 10 of 2026 concerning Amendment to Financial Services Authority Regulation Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange (State Gazette of the Republic of Indonesia Year 2026 Number 18/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 201/OJK); DECIDES: Establish: MEMBER OF THE BOARD OF COMMISSIONERS REGULATION CONCERNING THE PROCEDURE FOR THE ORGANIZATION OF CARBON TRADING THROUGH THE CARBON EXCHANGE Article 1 Provisions regarding the procedure for the organization of carbon trading through the carbon exchange as contained in: a. Appendix I containing provisions:

  1. carbon units traded at the carbon exchange organizer;
  2. capital of the carbon exchange organizer;
  3. requirements for shareholders of the carbon exchange organizer;
  4. requirements for members of the Board of Directors and members of the Board of Commissioners of the carbon exchange organizer;
  5. assessment of the fitness and propriety of shareholders, members of the Board of Directors, and members of the Board of Commissioners;
  6. operations and internal control of the carbon exchange organizer;
  7. procedure for requesting licensing of the carbon exchange organizer;
  8. regulations and articles of association of the carbon exchange organizer;
  • 2 - This extract is in accordance with the original Head of the Legal Development Directorate Legal Department signed. Aat Windradi
  1. annual work plan and budget of the carbon exchange organizer;
  2. report of the carbon exchange organizer; and b. Appendix II containing:
  3. application form for the business license of the carbon exchange organizer; and
  4. list of questions related to the integrity of members of the Board of Directors, members of the Board of Commissioners, candidates for members of the Board of Directors, candidates for members of the Board of Commissioners, and controllers/shareholders, which are an inseparable part of this Member of the Board of Commissioners of the Financial Services Authority Regulation. Article 2 At the time this Member of the Board of Commissioners of the Financial Services Authority Regulation comes into force, Financial Services Authority Circular Letter Number 12/SEOJK.04/2023 concerning the Procedure for the Organization of Carbon Trading through the Carbon Exchange is revoked and declared invalid. Article 3 This Member of the Board of Commissioners of the Financial Services Authority Regulation comes into force on the date of establishment. Established in Jakarta on July 24, 2026 EXECUTIVE HEAD OF THE CAPITAL MARKET, DERIVATIVE FINANCIAL, AND CARBON EXCHANGE SUPERVISOR FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, signed. HASAN FAWZI

APPENDIX I MEMBER OF THE BOARD OF COMMISSIONERS REGULATION OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 6 OF 2026 CONCERNING THE PROCEDURE FOR THE ORGANIZATION OF CARBON TRADING THROUGH THE CARBON EXCHANGE

  • 2 - I. GENERAL PROVISIONS In this Member of the Board of Commissioners of the Financial Services Authority Regulation, the following terms are defined:
  1. Greenhouse Gas, hereinafter abbreviated as GHG, is a gas contained in the atmosphere, both natural and anthropogenic, that absorbs and re-emits infrared radiation.
  2. Carbon Unit Registry System, hereinafter abbreviated as SRUK, is a system for providing and managing data and information related to carbon units at the level of organizing carbon economic value instruments.
  3. Carbon Unit is the result of emission reduction and/or absorption that is certified through domestic certification schemes, international certification, or GHG Emission Allowances expressed in units of carbon dioxide equivalent tons.
  4. GHG Emission Reduction Certificate, hereinafter abbreviated as SPE-GRK, is proof of emission reduction by businesses and/or activities that have undergone measurement, reporting, and verification (MRV), and are recorded in the SRUK in the form of registry numbers and/or codes.
  5. GHG Emission Allowance is the amount of GHG emissions that can be released into the atmosphere by regulated installations.
  6. Carbon Exchange is a system that regulates carbon trading and/or ownership records of Carbon Units.
  7. Party is an individual, legal entity, company, joint venture, association, or organized group.
  8. Carbon Exchange Organizer is a party that organizes and provides the Carbon Exchange.
  9. Board of Directors is a limited liability company organ authorized and fully responsible for managing the limited liability company for the interests of the limited liability company, in accordance with the purpose and objectives of the limited liability company and representing the limited liability company, both inside and outside of court, in accordance with the provisions of the articles of association.
  10. Board of Commissioners is a limited liability company organ tasked with conducting general and/or specific supervision in accordance with the articles of association and providing advice to the Board of Directors.

II. CARBON UNITS TRADED AT THE CARBON EXCHANGE ORGANIZER

  1. The Financial Services Authority regulates, licenses, supervises, and develops carbon trading through the Carbon Exchange.
  2. Carbon Units traded at the Carbon Exchange Organizer consist of: a. GHG Emission Allowances.
  1. GHG Emission Allowances are securities.
  2. GHG Emission Allowances are established by the minister in charge of government affairs in the field of Sector and Sub-Sector Nationally Determined Contribution (NDC) and carbon economic value instruments (NEK). b. SPE-GRK.
  3. SPE-GRK are securities.
  4. SPE-GRK are issued by the minister in charge of government affairs in the field of environmental protection and management after receiving a recommendation from the minister in charge of government affairs in the field of Sector and Sub-Sector NDC and NEK instruments. c. Non SPE-GRK.
  5. Non SPE-GRK are securities.
  6. Non SPE-GRK are issued by international standards and have received approval from the minister in charge of government affairs in the field of Sector and Sub-Sector NDC and NEK instruments.
  1. The Carbon Exchange Organizer may facilitate the trading of: a. Carbon Units registered in the SRUK; and/or b. carbon units from abroad that are not registered in the SRUK, provided they do not conflict with applicable legislation.
  2. Carbon units from abroad that are not registered in the SRUK as referred to in item 3 letter b must meet the following requirements: a. have been registered, validated, and verified by an institution accredited by an international registration system organizer and/or have been registered at a foreign Carbon Exchange; and b. other requirements established by the Financial Services Authority.
  3. The Financial Services Authority establishes other requirements as referred to in item 4 letter b after coordinating with the minister in charge of government affairs in the field of environmental protection and management.
  4. To implement the provisions of Article 3 paragraph (3) letter b and paragraph (4) of Financial Services Authority Regulation Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange as amended by Financial Services Authority Regulation Number 10 of 2026 concerning Amendment to Financial Services Authority Regulation Number 14 of 2023 concerning Carbon Trading through the Carbon Exchange, the Carbon Exchange Organizer submits an application for registration of carbon units to the Financial Services Authority through the work unit overseeing Carbon Exchange licensing, attaching documents at least as follows: a. identity of the applicant; b. documents related to the project that is the basis for the carbon units to be applied for; c. proof of registration, validation, and verification by an institution accredited by an international registration system organizer, so that it can be concluded that the carbon units to be registered meet the requirements to be traded on a foreign Carbon Exchange; d. carbon unit trading plan; e. review results of the Carbon Exchange Organizer regarding:
  1. requirement documents; and
  2. integrity, quality, and standards of carbon unit registration. f. other documents deemed necessary by the Financial Services Authority.

III. CAPITAL OF THE CARBON EXCHANGE ORGANIZER

  1. The Carbon Exchange Organizer submits to the Financial Services Authority documents showing the fulfillment of paid-up capital at the Carbon Exchange Organizer by shareholders.
  2. Details of capital proof documents:
  • 3 - a. articles of association; or b. proof of capital deposit.
  1. Funds used for capital deposits do not come from loans, proven among others by a statement letter that capital deposits do not come from loans or financing facilities in any form from other Parties and do not come from and for the purpose of money laundering, terrorism financing, and financing of proliferation of weapons of mass destruction.
  2. The Financial Services Authority may require shareholders of the Carbon Exchange Organizer to increase the capital of the Carbon Exchange Organizer by considering operational needs or the condition of the Carbon Exchange Organizer's activities.

IV. REQUIREMENTS FOR SHAREHOLDERS OF THE CARBON EXCHANGE ORGANIZER

  1. Shareholders of the Carbon Exchange Organizer must meet integrity and financial feasibility requirements. a. Requirements for shareholders of the Carbon Exchange Organizer include:
  1. competent to perform legal acts;
  2. having good character and morality;
  3. never sentenced for proven commission of: a) financial crimes, namely crimes in the banking field, capital market crimes, and non-bank financial industry crimes proven to have been committed within the last 20 (twenty) years before nomination; b) special crimes, namely crimes other than those regulated in the Criminal Code with a prison sentence threat of 1 (one) year or more, at least: corruption; narcotics/psychotropics; smuggling; customs; excise; human trafficking; illegal arms trafficking; terrorism; counterfeiting money; in the tax field; in the forestry field; in the environmental field; in the marine and fisheries field proven to have been committed within the last 20 (twenty) years before nomination; and c) criminal offenses, namely crimes contained in the Criminal Code with a prison sentence threat of 1 (one) year or more proven to have been committed within the last 10 (ten) years before nomination;
  4. never committed disgraceful acts, proven by submitting at least a police record certificate where the period from the date of issuance to submission to the Financial Services Authority is not more than 6 (six) months or in accordance with the validity period given by the police if less than 6 (six) months;
  5. never committed material violations of legislation in the financial services sector;
  • 4 -
  1. having a commitment to comply with legislation and support Financial Services Authority policies; and
  2. having a commitment to the development of the Carbon Exchange Organizer and a healthy Indonesian capital market. b. Financial feasibility requirements for shareholders of the Carbon Exchange Organizer include:
  3. financial capacity that can support the development of the Carbon Exchange Organizer's business;
  4. never declared bankrupt and/or never been a shareholder, member of the Board of Directors, or member of the Board of Commissioners who caused a company to be declared bankrupt within the last 5 (five) years before nomination; and
  5. having a commitment to take necessary measures if the Carbon Exchange Organizer faces financial difficulties.
  1. In the event that the shareholder of the Carbon Exchange Organizer is a legal entity, the requirement provisions as referred to in item 1 apply mutatis mutandis to the said legal entity insofar as relevant.
  2. Shareholders of the Carbon Exchange Organizer include: a. controlling shareholders; and b. shareholders who are not controlling shareholders.
  3. The Financial Services Authority is authorized to establish Parties assessed as controlling the Carbon Exchange Organizer to act as controlling shareholders.
  4. In the event that the candidate Carbon Exchange Organizer is a limited liability company that does not have a controlling shareholder, the assessment of the financial feasibility aspect may be conducted on the limited liability company itself.

V. REQUIREMENTS FOR MEMBERS OF THE BOARD OF DIRECTORS AND MEMBERS OF THE BOARD OF COMMISSIONERS OF THE CARBON EXCHANGE ORGANIZER

  1. Members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Organizer must meet integrity requirements including regarding financial reputation, competence, and expertise. a. Members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Organizer must meet integrity requirements as follows:
  1. competent to perform legal acts;
  2. having good character and morality;
  3. never sentenced for proven commission of: a) financial crimes, namely crimes in the banking field, capital market crimes, and non-bank financial industry crimes proven to have been committed within the last 20 (twenty) years before nomination; b) special crimes, namely crimes other than those regulated in the Criminal Code with a prison sentence threat of 1 (one) year or more, at least: corruption; narcotics/psychotropics; smuggling; customs; excise; human trafficking;
  • 5 - illegal arms trafficking; terrorism; counterfeiting money; in the tax field; in the forestry field; in the environmental field; in the marine and fisheries field proven to have been committed within the last 20 (twenty) years before nomination; and c) criminal offenses, namely crimes contained in the Criminal Code with a prison sentence threat of 1 (one) year or more proven to have been committed within the last 10 (ten) years before nomination;
  1. never committed disgraceful acts, proven by submitting at least a police record certificate where the period from the date of issuance to submission to the Financial Services Authority is not more than 6 (six) months or in accordance with the validity period given by the police if less than 6 (six) months;
  2. never committed material violations of legislation, for example violations subject to maximum fines, suspension of business activities, revocation of business licenses, cancellation of approvals, cancellation of registration, and/or revocation of individual licenses; and
  3. having a commitment to the development of the Carbon Exchange Organizer and the Indonesian capital market. b. Members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Organizer must meet financial reputation requirements at least proven by:
  4. not having bad loans and/or financing; and
  5. never declared bankrupt and/or never been a shareholder, controller of a company that is not a shareholder, member of the Board of Directors, or member of the Board of Commissioners who was declared guilty of causing a company to be declared bankrupt within the last 5 (five) years before nomination. c. Members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Organizer must meet competence and expertise requirements as follows:
  6. for members of the Board of Directors of the Carbon Exchange Organizer: a) having adequate knowledge of the capital market and/or the financial field relevant to their position; b) having an education level of at least diploma; c) having at least 2 (two) years of experience in managerial positions in companies operating in the field of climate change control, capital market sector, and/or financial sector; and d) one of the members of the Board of Directors has knowledge or experience in the field of climate change control and carbon markets, proven by practical experience, development, policy/regulation formulation, and/or assessment related to carbon trading activities and/or sustainable finance; or
  • 6 -
  1. for members of the Board of Commissioners of the Carbon Exchange Organizer: a) having knowledge in the field of capital markets; and b) having at least 2 (two) years of experience in the field of climate change control, capital market sector, and/or financial sector.
  1. In the event that a candidate member of the Board of Directors of the Carbon Exchange Organizer holds shares and/or is a controller, directly or indirectly, of a user of the Carbon Exchange Organizer's services, such shares must be transferred at the latest 6 (six) months since the General Meeting of Shareholders' meeting appointing the member of the Board of Directors of the Carbon Exchange Organizer.
  2. While the shares as referred to in item 2 have not been transferred, the member of the Board of Directors of the Carbon Exchange Organizer cannot use voting rights in the General Meeting of Shareholders of the user of services and outside the General Meeting of Shareholders of the user of services of the Carbon Exchange Organizer in question.

VI. ASSESSMENT OF FITNESS AND PROPRIETY OF SHAREHOLDERS, MEMBERS OF THE BOARD OF DIRECTORS, AND MEMBERS OF THE BOARD OF COMMISSIONERS

  1. Assessment of Fitness and Propriety of Shareholders a. Approval of shareholders of the Carbon Exchange Organizer must go through a fitness and propriety assessment by the Financial Services Authority. b. Candidate shareholders submit a letter of application for approval of candidate shareholders of the Carbon Exchange Organizer attached with documents as follows:
  1. individuals include: a) a signed curriculum vitae; b. photocopy of identity card/identity document; c. latest color photograph sized 4x6 cm with a red background, 2 (two) sheets; d. photocopy of tax identification number; e. police record certificate; f. statement letter from the shareholder committing to comply with legislation and support Financial Services Authority policies; g. statement letter from the shareholder committing to the development of the Carbon Exchange Organizer and a healthy Indonesian capital market; h. proof of financial capacity, proven by annual tax notification letters in the last 2 (two) years, bank accounts, and/or proof of asset ownership; i. proof/statement letter from the shareholder never declared bankrupt and/or never been a shareholder, member of the Board of Directors, or member of the Board of Commissioners who caused a company to be declared bankrupt within the last 5 (five) years before nomination; j. statement letter from the shareholder committing to take necessary measures

  • 7 -

  • 8 - when the Carbon Exchange Operator faces financial difficulties; and k) answers to questions according to the format of the Question List as contained in Appendix II of Chapter II which is an inseparable part of this Financial Services Authority Board of Commissioners Regulation; or

  1. legal entities, including: a) photocopy of the deed of establishment and/or amendment of the articles of association as follows: (1) for Indonesian legal entities, a photocopy of the deed of establishment that has been approved by the competent authority, along with the latest amendment of the articles of association that has obtained approval from the competent authority or has been issued a receipt of notification of amendment of the articles of association from the competent authority; or (2) for foreign legal entities, a photocopy of the deed of establishment that has been approved along with the latest amendment of the articles of association that has obtained approval from the competent authority in the country of origin, if there are amendments to the articles of association, and documents required according to the regulations of the country of origin if the legal entity in question is a foreign legal entity that is a state or government-owned legal entity; b) photocopy of the taxpayer identification number for Indonesian legal entities; c) information regarding Parties controlling the legal entity, directly or indirectly, which at least contains the name and form of control; d) the latest audited financial report; e) a statement letter from shareholders committing to comply with laws and regulations and support the policies of the Financial Services Authority; f) a statement letter from shareholders committing to the development of the Carbon Exchange Operator and the healthy Indonesian capital market; g) a statement letter from shareholders committing to take necessary measures if the Carbon Exchange Operator faces financial difficulties; h) a list of names and data of the members of the Board of Directors, members of the Board of Commissioners, and/or management of the prospective shareholders of the Carbon Exchange Operator, including: (1) a signed curriculum vitae; (2) photocopy of the national identity card/population identity card or valid passport;

  • 9 - (3) latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets; (4) photocopy of the taxpayer identification number; and (5) police record certificate or police clearance; i) a list of names and data of the shareholders of the prospective shareholders of the Carbon Exchange Operator, including: (1) individuals: (a) a signed curriculum vitae; (b) photocopy of the national identity card/population identity card or valid passport for foreign citizens; and (c) latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets; (2) legal entities: (a) the latest articles of association; and (b) the latest audited financial report; j) if the legal entity in question is a foreign legal entity operating in the financial services sector, it must be accompanied by a recommendation from the competent supervisory authority of the country of origin which at least states that: (1) the foreign legal entity has a good reputation; and (2) the foreign legal entity has never committed disgraceful acts in the financial sector; and k) if the legal entity in question is a foreign legal entity not operating in the financial services sector, it must be accompanied by a recommendation from the competent Party of the country of origin which at least states that: (1) the foreign legal entity has a good reputation; and (2) the foreign legal entity has never committed disgraceful acts. c. The assessment of competence and propriety of prospective shareholders of the Carbon Exchange Operator is conducted at least through an administrative assessment. d. In carrying out the administrative assessment as referred to in letter c, the Financial Services Authority may conduct clarification with the prospective shareholders of the Carbon Exchange Operator. e. In conducting the assessment of competence and propriety of prospective shareholders, the Financial Services Authority may be assisted by sources with specific expertise from outside the Financial Services Authority.

  • 10 -

  1. Assessment of Competence and Propriety of Board of Directors Members and Board of Commissioners Members a. Members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Operator must undergo an assessment of competence and propriety by the Financial Services Authority. b. The submission of prospective members of the Board of Directors or members of the Board of Commissioners of the Carbon Exchange Operator to the Financial Services Authority must attach documents as follows:
  1. a signed curriculum vitae;
  2. photocopy of the latest formal education diploma and certificates of expertise or proof of knowledge/experience in the capital market, climate change control, and/or carbon market;
  3. photocopy of the national identity card/population identity card or other valid identification for foreign citizens;
  4. police record certificate;
  5. latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets;
  6. a statement letter from the prospective member of the Board of Directors or member of the Board of Commissioners of the Carbon Exchange Operator stating that they have met the provisions of Paragraph V Number 1;
  7. drug-free certificate (SKBN) from the competent Party;
  8. strategic plan, specifically for prospective members of the Board of Directors of the Carbon Exchange Operator;
  9. proof/statement letter of not having non-performing loans and/or financing;
  10. proof/statement letter of never being declared bankrupt and/or never having been a shareholder, controller of a company that is not a shareholder, member of the Board of Directors, or member of the Board of Commissioners who was declared guilty causing a company to be declared bankrupt within the last 5 (five) years before nomination;
  11. a statement letter committing to the development of the Carbon Exchange Operator and the Indonesian capital market; and
  12. answers to questions according to the format of the Question List as contained in Appendix II of Chapter II which is an inseparable part of this Financial Services Authority Board of Commissioners Regulation. c. Every prospective member of the Board of Directors and member of the Board of Commissioners of the Carbon Exchange Operator must first pass the competence and propriety assessment conducted by the Financial Services Authority before being appointed by the general meeting of shareholders of the Carbon Exchange Operator. d. The assessment of competence and propriety of prospective members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Operator is conducted at least through an administrative assessment. e. In carrying out the administrative assessment as referred to in letter d, the Financial Services Authority may conduct clarification with the prospective members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Operator.
  • 11 - f. In conducting the assessment of competence and propriety of prospective members of the Board of Directors and members of the Board of Commissioners, the Financial Services Authority may be assisted by sources with specific expertise from outside the Financial Services Authority. g. The Financial Services Authority is authorized to stop the nomination process for prospective members of the Board of Directors or members of the Board of Commissioners of the Carbon Exchange Operator if the prospective candidate is undergoing a legal process. h. The legal process as referred to in letter g is the investigation or judicial process, including appeal and cassation, in criminal cases including:
  1. criminal offenses in the financial sector, namely criminal offenses in the banking sector, capital market sector, and non-bank financial industry sector;
  2. special criminal offenses, namely criminal offenses other than those regulated in the Criminal Code with a prison sentence threat of 1 (one) year or more, at least: corruption; narcotics/psychotropics; smuggling; customs; excise; human trafficking; illegal arms trafficking; terrorism; counterfeiting money; in the tax sector; in the forestry sector; in the environmental sector; in the marine and fisheries sector; and
  3. criminal offenses, namely criminal offenses contained in the Criminal Code with a prison sentence threat of 1 (one) year or more.
  1. The assessment of competence and propriety as referred to in Paragraph VI may be applied partially or fully based on the consideration of the Financial Services Authority for: a. Parties that have obtained a business license from the Financial Services Authority; or b. individuals who are Directors or Commissioners of Parties that have obtained a business license from the Financial Services Authority. VII. OPERATIONAL AND INTERNAL CONTROL OF THE CARBON EXCHANGE OPERATOR
  2. The Carbon Exchange Operator provides systems and/or facilities to support the operation of trading and supervision of Carbon Units, including: a. adequate, safe, and reliable systems according to the operational needs of the Carbon Exchange and placing the data center and disaster recovery center within the territory of Indonesia; b. adequate systems for supervising the trading of Carbon Units; c. systems connected to:
  1. SRUK for the validation of Carbon Units traded at the Carbon Exchange Operator;
  2. storage and settlement institutions (if needed);
  3. clearing and guarantee institutions (if needed); and/or
  4. other systems required to support Carbon Exchange activities; d. backup systems to overcome system failures;
  • 12 - e. systems that have security for information and networks to maintain confidentiality, integrity, and availability; f. human resources with competence in the field of information technology proven by having a diploma, work experience, or certificate of expertise in the field of information technology; g. an adequate business continuity plan, including having a disaster recovery center; and h. the website of the Carbon Exchange Operator that publishes data on the trading of Carbon Units as soon as possible, which at least includes:
  1. name and series of Carbon Units;
  2. transaction price;
  3. transaction volume;
  4. transaction value; and
  5. transaction settlement date.
  1. The Carbon Exchange Operator implements internal control with provisions including: a. conducting periodic tests on system capacity, performance, and security; b. evaluating system vulnerabilities and computer operation data centers against threats from within and outside, physical risks, and natural disaster threats; c. applying continuous supervision and crisis management procedures consisting of consistent and periodic monitoring and evaluation mechanisms of system operations, and management of handling information technology operational problems from the incident level to the crisis level; d. protecting systems from disturbances such as computer viruses and/or malicious software (malware) can be done by installing firewalls; e. appointing professional information technology auditors every time there is a material change; and f. maintaining databases and applications that can reconstruct Carbon Unit trading activities.
  2. Professional information technology auditors as referred to in Paragraph 2 letter e must: a. conduct audits on material system changes that can affect the ongoing trading system and impact normal business processes, both software and hardware; and b. have a valid and independent information system certificate from the competent Party.
  3. The Carbon Exchange Operator conducts periodic reviews in accordance with independent audit standard procedures and is conducted by the Board of Directors and Board of Commissioners to review reports containing recommendations and conclusions from said reports.
  4. The periodic review as referred to in Paragraph 4 is conducted to ensure that all standard operating procedures and provisions are fulfilled.
  • 13 - VIII. PROCEDURES FOR APPLICATION FOR LICENSING OF CARBON EXCHANGE OPERATORS
  1. Applications for obtaining a business license as a Carbon Exchange Operator are submitted by the applicant to the work unit under the function of licensing of the Carbon Exchange Operator.
  2. The Application Letter for Business License as a Carbon Exchange Operator with the format as contained in Appendix II of Chapter I which is an inseparable part of this Financial Services Authority Board of Commissioners Regulation.
  3. The business license application as referred to in Paragraph 2 is accompanied by documents as follows: a. detailed information regarding the applicant, name, address, and telephone number; b. photocopy of the deed of establishment of the limited liability company that has been approved by the competent authority, along with the articles of association and/or the latest amendment of the articles of association of the limited liability company that has obtained approval or has been issued a receipt of notification of amendment of the articles of association from the competent authority; c. photocopy of the taxpayer identification number; d) a list of names and data of the members of the Board of Directors and members of the Board of Commissioners of the Carbon Exchange Operator, including:
  1. a signed curriculum vitae;
  2. photocopy of the latest formal education diploma and certificates of expertise or proof of knowledge/experience in the capital market, climate change control, and/or carbon market;
  3. photocopy of the national identity card/population identity card or other valid identification for foreign citizens;
  4. police record certificate;
  5. latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets;
  6. drug-free certificate (SKBN) from the competent Party;
  7. proof/statement letter of not having non-performing loans and/or financing;
  8. proof/statement letter of never being declared bankrupt and/or never having been a shareholder, controller of a company that is not a shareholder, member of the Board of Directors, or member of the Board of Commissioners who was declared guilty causing a company to be declared bankrupt within the last 5 (five) years before nomination;
  9. a statement letter committing to the development of the Carbon Exchange Operator and the Indonesian capital market;
  10. a statement letter from the prospective member of the Board of Directors or member of the Board of Commissioners of the Carbon Exchange Operator stating that they have met the provisions of Paragraph V Number 1;
  11. strategic plan, specifically for prospective members of the Board of Directors of the Carbon Exchange Operator; and
  12. answers to questions according to the format of the Question List as contained in Appendix II of Chapter II which is an inseparable part of
  • 14 - this Financial Services Authority Board of Commissioners Regulation; e) a list of names and data of the shareholders of the Carbon Exchange Operator, including:
  1. individuals include: a) a signed curriculum vitae; b) photocopy of the national identity card/population identity card; c) latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets; d) photocopy of the taxpayer identification number; e) police record certificate; f) a statement letter from shareholders committing to comply with laws and regulations and support the policies of the Financial Services Authority; g) a statement letter from shareholders committing to the development of the Carbon Exchange Operator and the healthy Indonesian capital market; h) proof of financial capability in the form of annual tax notifications in the last 2 (two) years, bank accounts, and/or proof of asset ownership; i) proof/statement letter from shareholders of never being declared bankrupt and/or never having been a shareholder, member of the Board of Directors, or member of the Board of Commissioners who caused a company to be declared bankrupt within the last 5 (five) years before nomination; j) a statement letter from shareholders committing to take necessary measures if the Carbon Exchange Operator faces financial difficulties; and k) answers to questions according to the format of the Question List as contained in Appendix II of Chapter II which is an inseparable part of this Financial Services Authority Board of Commissioners Regulation; and
  2. legal entities, including: a) photocopy of the deed of establishment and/or amendment of the articles of association as follows: (1) for Indonesian legal entities, a photocopy of the deed of establishment that has been approved by the competent authority, along with the latest amendment of the articles of association that has obtained approval from the competent authority or has been issued a receipt of notification of amendment of the articles of association from the competent authority; or (2) for foreign legal entities, a photocopy of the deed of establishment that has been approved along with the latest amendment of the articles of association that has obtained approval from the competent authority in the country of origin, if there are

  • 15 - amendments to the articles of association, and documents required according to the regulations of the country of origin if the legal entity in question is a foreign legal entity that is a state or government-owned legal entity; b) photocopy of the taxpayer identification number for Indonesian legal entities; c) information regarding Parties controlling the legal entity, directly or indirectly, which at least contains the name and form of control; d) the latest audited financial report; e) a statement letter from shareholders committing to comply with laws and regulations and support the policies of the Financial Services Authority; f) a statement letter from shareholders committing to the development of the Carbon Exchange Operator and the healthy Indonesian capital market; g) a statement letter from shareholders committing to take necessary measures if the Carbon Exchange Operator faces financial difficulties; h) a list of names and data of the members of the Board of Directors, members of the Board of Commissioners, and/or management of the shareholders of the Carbon Exchange Operator, including: (1) a signed curriculum vitae; (2) photocopy of the national identity card/population identity card or other valid identification; (3) latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets; (4) photocopy of the taxpayer identification number; and (5) police record certificate or police clearance; i) a list of names and data of the shareholders of the shareholders of the Carbon Exchange Operator, including: (1) individuals: (a) a signed curriculum vitae; (b) photocopy of the national identity card/population identity card or valid passport; and (c) latest color photographs sized 4x6 cm with a red background, amounting to 2 (two) sheets; or (2) legal entities: (a) the latest articles of association; and (b) the latest audited financial report; j) if the legal entity in question is a foreign legal entity operating in the financial services sector, it must be accompanied by a recommendation from the competent supervisory authority of the country of origin which at least states that: (1) the foreign legal entity has a good reputation; and (2) the foreign legal entity has never committed disgraceful acts in the financial sector; and k) if the legal entity in question is a foreign legal entity not operating in the financial services sector, it must be accompanied by a recommendation from the competent Party of the country of origin which at least states that: (1) the foreign legal entity has a good reputation; and (2) the foreign legal entity has never committed disgraceful acts;

  • 16 - f) the latest audited financial report by a public accountant registered with the Financial Services Authority; g) photocopy of bank statements; h) proof of lawful deposit of paid-up capital; i) a statement letter that the capital deposit does not come from loans or financing facilities in any form from other Parties and does not come from and for the purpose of money laundering, terrorism financing, and financing of proliferation of weapons of mass destruction; j) draft regulations of the Carbon Exchange Operator; k) draft system for the implementation of trading to be used and its supporting facilities; l) standard operating procedures for the implementation of business activities; m) assessment results of the trading and supervision system by professional information technology auditors; n) list of users of the Carbon Exchange Operator; o) economic considerations underlying the establishment of the Carbon Exchange Operator; p) projection of operational plans and mission of the Carbon Exchange Operator for the next 3 (three) years; q) organizational structure along with job descriptions; and r) information on the place of business and photos of the office rooms.

  1. To process the application for a business license as a Carbon Exchange Operator, the Financial Services Authority may conduct further clarifications through face-to-face meetings, requesting presentations, conducting on-site examinations, and/or requesting additional documents.
  2. In the event that the application upon receipt does not meet the requirements, within at most 30 (thirty) working days since the receipt of the application, the Financial Services Authority provides a notification letter to the applicant stating that: a. the application does not yet meet the requirements and/or document consistency; or b. the application is rejected.
  3. In the event that the submitted application has met the requirements, the Financial Services Authority grants the business license as a Carbon Exchange Operator to the applicant within at most 30 (thirty) working days since the application is received completely and correctly.
  • 17 -
  1. Parties that have obtained a business license from the Financial Services Authority and have met the licensing requirements as referred to in item VIII may fail to meet the requirements. IX. REGULATIONS AND ARTICLES OF ASSOCIATION OF THE CARBON EXCHANGE OPERATOR AND THEIR AMENDMENTS
  2. The Regulations of the Carbon Exchange Operator and any amendments thereto shall take effect upon obtaining approval from the Financial Services Authority.
  3. Applications for approval of draft regulations or their amendments shall be submitted to the Financial Services Authority accompanied by: a. the background of the draft regulations or the reasons for the amendments; b. the opinion of service users; c. the approval of the Board of Commissioners; and d. the opinion of Interested Parties.
  4. The Financial Services Authority grants approval to the applicant within a period of 30 (thirty) working days after receiving the complete application for approval of the draft regulations.
  5. Within the period referred to in item 3, the Financial Services Authority may request the Carbon Exchange Operator to amend the material changes to the draft regulations, and/or request additional information related to the aforementioned regulations.
  6. The application for approval of draft regulations shall be calculated from the date of receipt of the amendments and/or additional information as referred to in item 4 by the Financial Services Authority.
  7. Applications for approval of draft amendments to the Articles of Association or their amendments shall be submitted to the Financial Services Authority accompanied by: a. the reasons for the amendments and the drafts; b. the opinion of service users; c. the minutes of the General Meeting of Shareholders made by a notary registered with the Financial Services Authority; d. the summons for the General Meeting of Shareholders; e. the agenda of the General Meeting of Shareholders; and f. the attendance list of the General Meeting of Shareholders.
  8. The Financial Services Authority grants approval to the applicant within a period of 30 (thirty) working days after receiving the complete application for approval of the draft amendments to the Articles of Association.
  9. Within the period referred to in item 7, the Financial Services Authority may request amendments to the material changes to the draft Articles of Association or their amendments and/or request additional information related to the aforementioned Articles of Association.
  10. The process of granting approval for draft Articles of Association or their amendments shall be recalculated from the date of receipt of the amendments and/or additional information as referred to in item 8 by the Financial Services Authority. X. WORK PLAN AND ANNUAL BUDGET OF THE CARBON EXCHANGE OPERATOR
  11. The Work Plan and Annual Budget of the Carbon Exchange Operator must be prepared for a 1 (one) fiscal year starting from January 1 to December 31 of the following year and must contain at least the work plan, revenue budget plan, and expenditure budget.
  12. The realization of the work plan and annual budget as referred to in item 1 shall be reported every 3 (three) months.
  13. The annual budget must be presented comparatively with the previous year's budget.
  14. In the event of material changes to the work plan and annual budget, the Carbon Exchange Operator must submit such changes to the Financial Services Authority to obtain approval.
  15. The Work Plan and Annual Budget of the Carbon Exchange Operator shall be submitted to the working unit overseeing the Carbon Exchange function via an electronic reporting system.
  16. In the event that the electronic reporting system as referred to in item 5 is not yet available, reports shall be submitted via printed documents or electronic documents. XI. REPORTS OF THE CARBON EXCHANGE OPERATOR Reports of the Carbon Exchange Operator must contain at least periodic reports and incidental reports.
  17. Periodic reports, consisting of: a. monthly transaction recapitulation reports
  1. service user activity reports, containing information including: a) transaction value for each service user; and b) trading frequency for each service user.
  2. trading activity reports, containing information including: a) trading volume; b) trading value; c) trading frequency; and d) status of Carbon Units at the Carbon Exchange; b. annual activity reports, containing information including:
  3. audited annual financial reports;
  4. annual governance implementation reports;
  5. periodic reports on the implementation of other activities;
  6. reports on the plan and realization of data updates related to the implementation of anti-money laundering and counter-terrorism financing, and counter-proliferation financing programs; and
  7. reports on the results of self-assessment of risk management implementation; c. monthly transaction recapitulation reports must be submitted no later than the 5th (fifth) trading day of the following month; and d. annual activity reports, including annual financial reports audited by accountants registered with the Financial Services Authority, must be submitted no later than the end of the 3rd (third) month after the date of the annual financial report.
  1. Incidental reports, consisting of: a. reports on approval and/or rejection of Parties applying as service users and/or changes to service users, which must be submitted no later than the next trading day;
  • 18 - This copy is consistent with the original Head of Legal Development Directorate Legal Department signed. Aat Windradi b. reports on changes to organizational structure and/or systems, which must be submitted no later than the next trading day; c. reports on violations and sanctions imposed on service users, which must be submitted no later than the next trading day; d. reports on special events, which must be submitted no later than the end of the same trading day; e. reports on the resignation of members of the Board of Directors and/or members of the Board of Commissioners, which must be submitted no later than 2 (two) working days from the date the event is known; and f. reports on the results of the General Meeting of Shareholders of the Carbon Exchange Operator, which must be submitted no later than 2 (two) working days from the date of the holding of the said General Meeting of Shareholders; and/or g. copies of notarial deeds of the General Meeting of Shareholders of the Carbon Exchange Operator must be submitted to the Financial Services Authority no later than 2 (two) working days after the copy of the notarial deed is received by the Carbon Exchange Operator.
  1. Submission of reports shall be directed to the working unit overseeing the Carbon Exchange via an electronic reporting system.
  2. In the event that the electronic reporting system as referred to in item 3 is not yet available, reports shall be submitted via printed documents or electronic documents. EXECUTIVE HEAD OF THE CAPITAL MARKET, DERIVATIVE FINANCIAL, AND CARBON EXCHANGE SUPERVISOR FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, HASAN FAWZI signed.

APPENDIX II REGULATION OF THE BOARD OF COMMISSIONERS MEMBERS OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 6 OF 2026 CONCERNING PROCEDURE FOR THE IMPLEMENTATION OF CARBON TRADING THROUGH THE CARBON EXCHANGE

  • 2 - CHAPTER I APPLICATION FORM FOR BUSINESS LICENSE AS A CARBON EXCHANGE OPERATOR Number : .... , ......................... 20.... Attachment : Subject : Application for Business License as Carbon Exchange Operator To The Executive Head of Capital Market, Derivative Financial, and Carbon Exchange Supervision Financial Services Authority in Jakarta Hereby we apply for a business license as a Carbon Exchange Operator. As consideration material, we submit the following data:
  1. Applicant Name : …………………………………………………….
  2. Applicant Address : ……………………………………………………. (street name and number) ……………………………………..… - 🗆🗆🗆🗆🗆 (city and postal code)
  3. Taxpayer Identification Number (NPWP) : …………………………………………………….
  4. Capital : ……………………………………………………. a. Authorized Capital : ……………………………………………………. b. Paid-up Capital : …………………………………………………….
  5. Company Address : ……………………………………………………. (street name and number) ……………………………………..… - 🗆🗆🗆🗆🗆 (city and postal code)
  6. Telephone, Telex, and Fax Number : ………………………………………………….....
  7. Contact Person : ……………………………………………………. (include power of attorney)
  8. Business Licenses Already Held : ……………………………………………………. To complete this application, we attach the following documents:
  9. detailed information regarding the applicant, name, address, telephone number, and fax;
  10. photocopy of the limited liability company establishment deed authenticated by the competent authority, along with the Articles of Association and/or the latest amendment to the Articles of Association of the limited liability company that has obtained approval or has been issued a notification receipt of amendment to the Articles of Association from the competent authority;
  11. photocopy of the Taxpayer Identification Number (NPWP);
  12. list of names and members of the Board of Directors and Board of Commissioners, including:
  • 3 - a. signed biographical lists; b. photocopy of the latest formal education diploma and certificates of expertise or proof of knowledge/experience in the capital market, climate change control, and/or carbon market; c. photocopy of the valid citizen identity card/identity document or passport for foreign citizens; d. police record certificate; e. latest 4x6 cm color photos with a red background, 2 (two) sheets; f. drug-free certificate (SKBN) from the competent Party; g. proof/statement letter of not having non-performing loans and/or financing; h. proof/statement letter of never having been declared bankrupt and/or never having been a shareholder, controlling party of a company that is not a shareholder, member of the Board of Directors, or member of the Board of Commissioners who was found guilty of causing a company to be declared bankrupt within the last 5 (five) years before nomination; i. statement letter having a commitment to the development of the Carbon Exchange Operator and the Indonesian capital market; j. statement letter from the prospective member of the Board of Directors or member of the Board of Commissioners of the Carbon Exchange Operator stating that they have met integrity requirements including regarding financial reputation, competence, and expertise; k. strategic plan, specifically for prospective members of the Board of Directors of the Carbon Exchange Operator; and l. in the event that members of the Board of Directors and Board of Commissioners are parties who have undergone suitability and propriety assessments by the Financial Services Authority within the last 4 years, it is sufficient to attach the name, year of suitability and propriety assessment, and position.
  1. list of names and data of shareholders, including: a. individuals, including:
  1. signed biographical lists;
  2. photocopy of citizen identity card/identity document;
  3. latest 4x6 cm color photos with a red background, 2 (two) sheets;
  4. photocopy of Taxpayer Identification Number (NPWP);
  5. police record certificate;
  6. statement letter from the shareholder having a commitment to comply with legislation and support Financial Services Authority policies;
  7. statement letter from the shareholder having a commitment to the development of the Carbon Exchange Operator and a healthy Indonesian capital market;
  8. proof of financial capability in the form of annual tax notification letters in the last 2 (two) years, bank accounts, and/or proof of asset ownership;
  9. proof/statement letter of never having been declared bankrupt and/or never having been a shareholder, member of the Board of Directors, or member of the Board of Commissioners who caused a company to be declared bankrupt within the last 5 (five) years before nomination; and
  • 4 -
  1. statement letter having a commitment to take necessary measures if the Carbon Exchange Operator faces financial difficulties; and b. legal entities, including:
  2. photocopy of the establishment deed and/or amendment to the Articles of Association as follows: a) for Indonesian legal entities, photocopy of the establishment deed authenticated by the competent authority, along with the latest amendment to the Articles of Association that has obtained approval from the competent authority or has been issued a notification receipt of amendment to the Articles of Association from the competent authority; or b) for foreign legal entities, photocopy of the authenticated establishment deed along with the latest amendment to the Articles of Association that has obtained approval from the competent authority in the country of origin, if there are amendments to the Articles of Association, and documents required according to the regulations of the country of origin if the legal entity is a foreign legal entity in the form of a state or government-owned legal entity;
  3. photocopy of Taxpayer Identification Number (NPWP) for Indonesian legal entities;
  4. information regarding Parties controlling the legal entity, directly or indirectly, which must at least contain the name and form of control;
  5. audited financial report of the last year;
  6. statement letter from the shareholder having a commitment to comply with legislation and support Financial Services Authority policies;
  7. statement letter from the shareholder having a commitment to the development of the Carbon Exchange Operator and a healthy Indonesian capital market;
  8. statement letter from the shareholder having a commitment to take necessary measures if the Carbon Exchange Operator faces financial difficulties;
  9. list of names and data of members of the Board of Directors, members of the Board of Commissioners, and/or managers of the shareholder, including: a) biographical lists; b) photocopy of citizen identity card/identity document or valid passport; c) latest 4x6 cm color photos with a red background, 2 (two) sheets; d) photocopy of Taxpayer Identification Number (NPWP); and e) police record certificate or police clearance;
  10. list of names and data of shareholders of the Carbon Exchange Operator shareholder, including: a) signed biographical lists; b) photocopy of citizen identity card/identity document or valid passport; c) latest 4x6 cm color photos with a red background, 2 (two) sheets; and d) latest Articles of Association and audited financial report of the last year for shareholders of the Carbon Exchange Operator shareholder in the form of a legal entity;
  • 5 -
  1. in the event that the shareholder of the Carbon Exchange Operator is a Financial Services Institution supervised by the Financial Services Authority, it is sufficient to attach the list of names of shareholders;
  2. if the legal entity is a foreign legal entity operating in the financial services sector, it must be accompanied by a recommendation from the competent supervisory authority of the country of origin at least stating that the foreign legal entity has a good reputation and has never committed disgraceful acts in the financial sector;
  3. if the legal entity is a foreign legal entity not operating in the financial services sector, it must be accompanied by a recommendation from the competent Party of the country of origin at least stating that the foreign legal entity has a good reputation and has never committed disgraceful acts; and c. in the event that the shareholder of the Carbon Exchange Operator is a Financial Services Institution supervised by the Financial Services Authority, it is sufficient to attach the list of names of shareholders;
  1. the latest audited financial report by an accountant registered with the Financial Services Authority;
  2. photocopy of bank statements;
  3. proof of lawful deposit of paid-up capital;
  4. statement letter stating that the paid-up capital does not originate from: a. loans or financing facilities in any form from other Parties; and b. and for the purpose of money laundering and terrorism financing;
  5. draft regulations of the Carbon Exchange Operator;
  6. draft of the trading operation system to be used and its supporting facilities;
  7. standard operating procedures for business activities;
  8. results of assessment of the trading and supervision system by professional information technology auditors;
  9. list of service users of the Carbon Exchange Operator;
  10. economic considerations underlying the establishment of the Carbon Exchange Operator;
  11. projection of operational plans and mission of the Carbon Exchange Operator for the next 3 (three) years;
  12. organizational structure with job descriptions; and
  13. information on business premises and photos of the office rooms. Thus, this application is submitted, and we thank you for your attention. Applicant, stamp …………………………………….. (full name and signature)
  • 6 - CHAPTER II QUESTIONNAIRE I. INSTRUCTIONS FOR ANSWERING QUESTIONS
  1. All questions must be answered by prospective members of the Board of Directors, members of the Board of Directors, prospective members of the Board of Commissioners, members of the Board of Commissioners, prospective shareholders, and shareholders.
  2. Signed by each member of the Board of Directors, member of the Board of Commissioners, prospective member of the Board of Directors, prospective member of the Board of Commissioners, and controlling party or shareholder on stamped paper.
  3. Place a checkmark 🗸 in the box in front of the word "Yes" if your answer is "Yes", or place a checkmark 🗸 in the box in front of the word "No" if your answer to the following questions is "No". For every "Yes" answer, the applicant must provide a detailed and clear answer containing at least: a. the institution concerned; b. the case and date of the action taken; c. the court or institution taking the action; and d. the action and sanctions taken. II. INTEGRITY OF MEMBERS OF THE BOARD OF DIRECTORS, MEMBERS OF THE BOARD OF COMMISSIONERS, PROSPECTIVE MEMBERS OF THE BOARD OF DIRECTORS, PROSPECTIVE MEMBERS OF THE BOARD OF COMMISSIONERS, AND CONTROLLING PARTIES/SHAREHOLDERS Definition Investment is an activity regarding Securities, banking, insurance, pension funds, cooperatives, other financial institutions including activities, whether direct or indirect, related to Securities companies, investment advisors, banks or other companies operating in the financial sector, and/or other investment activities in the real sector, for example, housing or real estate businesses. Answer the following questions:
  4. In the last 20 (twenty) years, have you ever been convicted for: a. criminal acts related to investment? b. or other crimes?
  5. Has the court: a. declared you bankrupt? Yes No Yes No Yes No
  • 7 - b. in the last 20 (twenty) years, prohibited you from activities related to investment? c. declared you guilty of involvement in legal violations (criminal acts) related to investment and/or involvement in legal violations of legislation in the financial services sector? d. frozen/suspended temporarily, restricted, or revoked the license (or other licenses similar to the license) you hold? e. declared you caused a business related to investment, its business license, or license to conduct business to be rejected, frozen, revoked, or restricted?
  1. Has the Financial Services Authority ever: a. declared and/or found you making false, misleading, or dishonest statements, unfair or unethical statements, or negligent in providing information that should have been provided? b. declared and/or found you involved in violations of legislation in the capital market sector? c. declared you guilty of involvement in investment activities so that the business license or other licenses similar to the business license held by a company were frozen, restricted, or revoked/cancelled? d. rejected your application for license, approval, or registration/certificate of registration? e. imposed sanctions by freezing, restricting activities, or revoking/cancelling licenses, approvals, or registration/certificate of registration you hold, for example, certificate of registration as a capital market supporting profession such as accountant, legal consultant, appraiser, or notary? f. declared your business license or license to conduct business related to investment was rejected, frozen, revoked, or restricted? Yes No Yes No Yes No Yes No Yes No Yes No Yes No Yes No
  • 8 - g. ordered to reject, temporarily suspend, revoke your business license, or impose sanctions by restricting your activities?
  1. Have other competent authorities ever: a. declared and/or found you making false, misleading, or dishonest, unfair, or unethical statements? b. declared and/or found you involved in violations of legislation concerning investment activities? c. declared and/or found you caused a company related to investment whose application for business license was rejected or its business license (or other licenses similar to the business license) to be frozen/suspended temporarily, restricted, or revoked? d. ordered to prohibit you from activities related to investment in the last 20 (twenty) years? e. rejected your application for license (other licenses similar to the license), or frozen/suspended temporarily, restricted, or revoked the license (other licenses similar to the license) you hold to operate in investment activities? f. rejected your application for license (other licenses similar to the license), frozen/suspended temporarily, restricted, or revoked the license (other licenses similar to the license) you hold to operate in activities other than investment activities, for example, certificate of registration as a capital market supporting profession such as accountant, legal consultant, appraiser, or notary?
  2. Has the Carbon Exchange Operator ever: a. declared and/or found you making false, misleading, or dishonest, unfair or unethical statements, or negligent in providing information that should have been provided? b. declared and/or found you involved in violations of Carbon Exchange Regulations? c. disciplined you by issuing or temporarily suspending your service user status where you are a Yes No Yes No Yes No Yes No Yes No Yes No Yes No Yes No Yes No
  • 9 - working from a Carbon Exchange Organizer that resulted from your error, by limiting or temporarily suspending the relationship between the intended service users with other Carbon Exchange service users? d. causing your business license or permit to run a company related to investment to be frozen, revoked or limited?
  1. Has a court in another country ever declared that you were guilty due to criminal prosecution or civil lawsuit in connection with investment?
  2. Have courts in other countries, applicable regulations, or Carbon Exchange Organizers ever ordered measures to be taken against you in connection with fraud?
  3. Are you currently a party involved in litigation in court?
  4. Do you have commitments, specific ties, or conditional obligations towards third parties whose cases are currently being processed or have obtained a court decision?
  5. Taking disciplinary action against you by issuing or freezing membership by preventing or freezing relationships with other members, or by limiting their activities?
  6. Has an insurance company ever refused to pay you or cancelled your insurance coverage?
  7. Have you ever been a member of the Board of Directors of a service user, investment advisor, or controlling shareholder of a financial services institution declared bankrupt?
  8. Do you individually or jointly hold shares exceeding 5% (five percent) in a service user?
  9. Have you ever been declared ineligible according to the requirements set by the Financial Services Authority as a shareholder, controlling shareholder, member of the Board of Directors, member of the Board of Commissioners, and executive officials of a financial services institution? yes no yes no yes no yes no yes no yes no yes no yes no yes no yes no yes no
  • 10 - This copy is consistent with the original Head of Legal Development Directorate Legal Department signed. Aat Windradi …..……., ……..…………..……20…. (place and date) stamp ………………………………..……….. (full name and signature) EXECUTIVE HEAD OF SUPERVISOR OF CAPITAL MARKET, DERIVATIVE AND CARBON EXCHANGE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, HASAN FAWZI signed.

More like this from OJK

OJK published 2 documents in the last 30 days. We email you each new one the day it's published.

Topics
esg
licensing
Share