Regulatory Alerts2014-01-15
Added · Updated
Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 03/BAPPEBTI/PER-PL/01/2014 Concerning Approval of Forward Auction Market Organizers
The Head of the Commodity Futures Trading Regulatory Agency (Bappebti) establishes requirements and procedures for approving Forward Auction Market Organizers, which may be provincial/municipal trade offices, cooperatives, limited liability companies (PTs), or local government-owned enterprises (BUMDs). The regulation mandates minimum paid-up capital of IDR 1 billion for PTs and BUMDs, or IDR 250 million for cooperatives, and requires approval of internal regulations and clearing agreements. Bappebti must issue approval or rejection within 45 working days of complete documentation, while organizers must submit annual reports, notify changes in management or shareholders within one week, and report member suspensions within seven days. This regulation repeals the previous regulation (Number 01/BAPPEBTI/PER-PL/08/2010) effective from its issuance date.