New Regulation on Capital Investment Licensing and Facilities
In order to implement Government Regulation No. 24 of 2018 which introduced an online system for processing and issuing certain business licenses (known as the Online Single Submission “OSS” system), on 20 July 2018, the Investment Coordinating Board (“BKPM”) issued 2 new regulations on investment, ie BKPM Regulation No. 6 of 2018 on the Guidelines and Procedure for Capital Investment Licensing and Facilities (“Regulation 6/2018”) and Regulation No. 7 of 2018 on the Guidelines and Procedure for Capital Investment Supervision (“Regulation 7/2018”).
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Indonesian Equity Crowdfunding Regulation
The Financial Services Authority (“OJK”) issued OJK Regulation No. 37/POJK.04/2018, on 31 December 2018 on equity crowdfunding services (the “Crowdfunding Services”) which allow offers of shares for sale by an issuer directly to investors through an open information technology system (“POJK 37/2018”).
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Regulatory Sandbox of OJK
On 15 August 2018, the Financial Services Authority (Otoritas Jasa Keuangan/OJK) of Indonesia issued a new regulation on financial digital innovation in financial services (“POJK 13/POJK.02/2018”). This is a regulatory sandbox version of the OJK.
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The Implementing Regulation of the Payment Systems Regulation: Payment Services Providers
Following the issuance of Bank Indonesia Regulation No. 22/23/PBI/2020 on Payment Systems (“Payment Systems Regulation”) on 30 December 2020 which came into force on 1 July 2021 that serves as an “umbrella” regulation that provides a regulatory framework for the Indonesian payment systems industry.
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INDONESIA INTRODUCES KNOW-YOUR-BENEFICIAL OWNER PRINCIPLE FOR CORPORATIONS
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