Regulatory Alerts2024-02-01
Added · Updated
Procedures and Mechanisms for Submission of Financing Transaction Data and Reporting by Information Technology-Based Joint Financing Service Providers (LPBBTI)
The Financial Services Authority mandates Information Technology-Based Joint Financing Service Providers (LPBBTI) to submit financing transaction data in real-time to the fintech lending data center, alongside periodic monthly and annual audited financial reports, and incident reports. The regulation specifies the formats, submission mechanisms (primarily via electronic systems), and deadlines for these reports, with mandatory compliance starting July 1, 2024, following a trial period from February to June 2024. LPBBTIs are also required to publish their audited financial position and profit/loss statements on their electronic systems within one month after the annual reporting deadline.
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