OJK Issues Rules For Strengthening Investment Management In Capital Markets

OJK (photo: dock. Antara)

JAKARTA - The Financial Services Authority (OJK) issued OJK Regulation (POJK) Number 33 of 2024 concerning Investment Management Development and Strengthening in the Capital Market as an effort to make a positive contribution and support inclusive and sustainable economic growth.

"This POJK is an implementation regulation of Article 24 of Law Number 8 of 1995 concerning the Capital Market as amended by Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) relating to investment management in the capital market," said Plt. Head of the Department of Literacy, Financial Inclusion, and OJK Communications M. Ismail Riyadi quoting Antara.

One of the substance of the arrangements regulated in POJK No. 34/2024 includes the mutual requirements for receiving and/or providing loans.

Then, another substance is related to the requirements and limits of mutual fund investment to buy mutual fund shares in the form of the company and/or units of mutual fund participation in the form of other collective investment contracts.

POJK concerning the Development and Strengthening of Investment Management in the Capital Market comes into effect on the promulgated date, namely since December 23, 2024.

When POJK 33/2024 comes into effect, a number of articles in the previous regulation were revoked and declared invalid. The article is Article 6 paragraph (1) letter p and letter q POJK Number 23/POJK.04/2016 concerning Mutual Funds Formed Collective Investment Contracts.

Then, Article 3 letter m POJK Number 32/POJK.04/2017 concerning Guidelines for the Company's Mutual Fund Management Contract and Article 15 letter m POJK Number 33/POJK.04/2017 concerning Guidelines for Management of Company-shaped Mutual Funds.