Consumer Protection Compliance Mechanism Introduced: PUJK Required to Submit Self-Assessment Reports by 30 September

In 2023, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) issued Regulation No. 22 of 2023 on Consumer and Public Protection Within the Financial Services Sector (“ Regulation 22/2023 ”), which specifically requires financial services business actors (pelaku usaha jasa keuangan– “ PUJK ”) to submit self-assessment reports (“ Reports ”) to the OJK. [1] In order to ensure compliance and clarify the implementation of this mandate, the OJK has now introduced Circular No. 18/SEOJK.08/2024 (“ Circular 18/2024 ”), which came into effect on 10 December 2024. [2]