OJK Releases Three New Rules Strengthening The Capital Market Sector

Illustration (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) is said to have just issued three new rules related to strengthening the capital market sector.

Meanwhile, the three regulations are OJK Regulation (POJK) Number 14/POJK.04/2022 concerning Submission of Periodic Financial Reports of Issuers or Public Companies.

Then, POJK Number 15/POJK.04/2022 concerning Share Breaking and Share Merger by Open Companies. And the last is and POJK Number 17/POJK.04/2022 concerning Investment Manager Conduct Guidelines.

"This strategic step is expected to realize the creation of an orderly, reasonable and efficient capital market activity and protect the interests of the community," said OJK Director of Public Relations Darmansyah in a written statement, Wednesday, September 21.

According to him, one of the focuses is on the provisions for submitting periodic reports of issuers that are useful in making shareholder decisions, especially the public.

"The availability of faster financial reports will help public shareholders to be able to make their investment decisions appropriately," he said.

Then for the split or the merger of shares, the company must obtain the approval of the principle of the Stock Exchange.

"The provisions regarding the terms and procedures for solving/joining shares aim to provide legal certainty in fulfilling the rights of shareholders, protecting investors, and supporting the realization of well-maintained trade," said Darmansyah.

Then for investment managers, there is no misconduct related to independence in making investment decisions and securities transactions for the benefit of customers.

The following is the substance of improvement in the guidelines for investment manager behavior based on the latest POJK.

1. Settings related to the obligation to carry out stress tests and risk management of liquidity in investment management

2. Settings related to Investment Manager's behavior in marketing Investment Products

3. Strengthen supervision related to pre-order allocation through S-INVEST

4. Strengthening Investment Risk Management Manager

5. Prohibition of accepting gifts and strengthening behavior related to soft commissions, rebates, etc.

6. Settings related to single ownership of Investment Products

7. Obligation to separate securities transactions with transactions for the sake of the Investment Manager himself

8. Negotiated Transaction Limit on Stock transactions listed on the stock exchange

9. Regulation of Investment Manager behavioral Principles

10. Use of SIG Investment Products in conducting Stock transactions for the benefit of Investment Products

11. Settings related to standard fund fact sheet Investment Products

12. Prohibition of involvement in the T-plus facility, Early Payment from the Stock Company which results in debts.