OJK ISSUEs New POJK Regulates Influencer Cooperation In Capital Market

JAKARTA - The Financial Services Authority (OJK) has issued OJK Regulation (POJK) Number 13 of 2025 concerning Internal Control and Behavior of Effect Companies conducting Business Activities as Underwriters (PEE) and Intermediaries of Stock Traders (PPE).

For information, the Emissions Guarantee (PEE) is a company that helps issue shares or bonds to the public, while the Intermediary for Stock Traders (PPE) is a company that conducts buying and selling transactions in the capital market in the name of customers.

Acting Head of the Department of Literacy, Financial Inclusion and Communications OJK M. Ismail Riyadi explained that this regulation aims to strengthen supervision of securities companies, including regulating the use of social media in capital market activities.

"To update internal control arrangements and behavior for Emission Guarantee (PEE) and Intermediary Stock Traders (PPE) including Regional Stock Companies (PED) and PPE which are Marketing Partners more comprehensively," he said in his statement, Selesa, July 15.

This new rule replaces previous provisions and accommodates the latest dynamics in the securities industry, such as increasing product complexity, business processes, and information technology and social media-based service models.

Ismail said that the issuance of POJK was motivated by the increasingly high complexity in the business activities of Emission Guarantee (PEE) and/or Intermediary for Stock Traders (PPE), as well as cultural development and service mechanisms in the securities industry.

This POJK includes internal control arrangements and behavior of securities companies, including the obligation to conduct due diligence on prospective issuers who will conduct public offerings, managing potential conflicts of interest.

In addition, this POJK also regulates provisions related to the implementation of risk management for the use of information technology, including the use of technology service providers, as well as licensing provisions for social media activists in collaboration with the Stock Company.

Ismail conveyed that the regulation related to internal control and behavior of the Stock Company in POJK is expected to improve and strengthen investor protection aspects in the Capital Market from aspects of improving the quality of issuers, mitigating conflicts of interest in public offerings, strengthening functions in PEE and PPE, as well as using social media in the implementation of Stock Company activities.

In general, this POJK regulates provisions, including:

A function that must be owned by PEE;

PEE's behavior is related to PEE's obligations and prohibitions as well as the handling of conflicts of interest;

The functions that must be owned by PPE, including the information technology function of IT, along with provisions regarding IT's governance and risk management;

Functions that must be owned by PPE marketing partners;

PED must have a function;

Restrictions on access to PEE and PPE functions;

The transfer of PPE function power; and PPE and PED behavior related to PPE and PED obligations and prohibitions as well as advertising cooperation with social media activists.

For information, this POJK was promulgated on June 11, 2025 and will take effect 6 (six) months from the date of promulgation, namely December 11, 2025.

Ismail said that the OJK will continue to supervise and evaluate the implementation of this POJK to ensure that this regulation runs effectively and provides optimal benefits for the community and capital market industry.