31 August 2020
In conducting its corporate actions, Public Companies[1] in Indonesia are mainly subject to the material transaction regulation. In the last 10 years, the capital market industry in Indonesia as well as other jurisdictions outside Indonesia have experienced significant changes and development.
To accommodate such market changes and to align with international best practices, the Financial Services Authority (Otoritas Jasa Keuangan/”OJK”) has issued a new OJK Regulation No. 17/POJK.04/2020 concerning the same matters (“POJK 17/2020”) on 21 April 2020.
POJK 17/2020 replaces the previous material transaction regulation issued by the Indonesian Capital Market and Financial Institutions Supervisory Board (“BAPEPAM-LK”) in 2011 that was usually referred to as BAPEPAM-LK Reg. IX.E.2. Bapepam-LK was the supervisory agency for Public Companies in Indonesia prior to the establishment of OJK in 2012.
Read the full article here.
For more information, please contact:
Sandro Mieda Panjaitan,
sandro.panjaitan@zicolaw.com
