The Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) has decided to update its regulatory framework on written orders through the issuance of Regulation of the OJK No. 31 of 2024 (“ Regulation 31/2024 ”). Upon entering into force on 23 December 2024, Regulation 31/2024 revoked several previously issued OJK frameworks that addressed matters relating to written orders, including [1] :
Compliance Alert: Financial Business Actors Must Comply with OJK Written Orders or Face Sanctions of up to Rp. 1 Trillion
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