Financial Conglomerates PSP Beware: PIKK Application Deadline Now Set at June 2025

In 2020, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) established Regulation No. 45/POJK.03/2020 (“ Regulation 45/2020 ”) on Financial Conglomerates (“ Conglomerates ”), which specifically addressed the scope of and criteria for the organization of Conglomerates. It should be noted that various provisions that feature under Regulation 45/2020 were previously summarized in the following edition of Indonesian Legal Brief (“ ILB ”):“ OJK Finally Sets Criteria for Financial Conglomerates Operating Within the Financial Services Sector ”.