Formulation and Submission of Good Corporate Governance Reports by Venture-Capital Companies

In a bid to implement Article 42 (2) of Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) Regulation No. 36/POJK.05/2015 on Good Corporate Governance by Venture-Capital Companies (“ Regulation 36/2015 ”), the OJK has issued Circular No. 4/SEOJK.05/2018 on Reporting the Implementation of Good Corporate Governance for Venture-Capital Companies (“ Circular 4/2018 ”). [1] Circular 4/2018 essentially serves as a set of technical guidelines for conventional venture-capital companies and sharia venture-capital companies (collectively referred to as “ VC Companies ”) as regards the formulation and submission of Good Corporate Governance data (“ GCG ”) online via the OJK’s data-communications system.GCG ReportsThere are five basic, generally recognized GCG principles (“ GCG Principles ”): [2]