Regulation on Electronic Licensing in the Financial Services Sector
To improve the effectiveness of integrated licensing in the financial services sector, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) introduced an electronic licensing system to integrate all licensing in the financial services sector through OJK Regulation No. 26/ POJK.01/2019 on Electronic Licensing within the Financial Services Sector (“POJK No. 26/2019”), which came into effect on 28 October 2019.
Download read moreNew Regulation on Location Permit
The Minister issued Regulation No. 14 of 2018 on Location Permits (“Regulation 14/2018”), as the first regulation on location permits accommodating the OSS system.
Download read moreReminder - Requirement in The OSS System for Companies to Adjust their Business Classification Code (KBLI)
On 11 October 2018, the Coordinating Ministry for Economic Affairs issued a joint notice in their websites requiring limited liability companies to adjust their Business Entity Numbers (Nomor Induk Berusaha –“NIB”) to the 2017 KBLI.
Download read moreThe New Amendment to the KPK Law: Newly Passed Bill
On 17 October 2019, the government officially enacted Law No. 19 of 2019 on the Second Amendment to Law No. 30 of 2019 on The Corruption Eradication Commission (“Law 19/2019”) which came into effect on the same date.
Download read moreNew Government Regulation on Organization of Electronic Systems and Transactions
The Government of Indonesia finally issued Government Regulation No. 71 of 2019 on Organization of Electronic Systems and Transactions ("GR 71/2019") on 4 October 2019, gaining momentum as the country sees the rise of ‘Unicorns’ and President Joko Widodo boasting about the country’s digital economy.
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