OJK Broadens Business Scope of Alternative Market Organizers

In an attempt to stay abreast of rapid developments in the world of bonds trading and to broaden the overall scope of bonds, the Financial Service Authority (Otoritas Jasa Keuangan– “ OJK ”) has just issued Regulation No. 8/POJK.04/2019 on Alternative Market Organizers (“ Regulation 8/2019 ”). [1] Regulation 8/2019 replaces Decree of the Head of the Capital Market Supervisory Agency (Badan Pengawas Pasar Modal– “ BAPEPAM ”) No. KEP-02/PM/2004 on State Securities Trading Organizers (“ Rule III.D.1 ”). [2] Regulation 8/2019 addresses the rules for alternative market organizers (Penyelenggara Pasar Alternatif– “ PPA ”), which are parties who organize and provide or utilize electronic marketplace systems for Bonds Transactions in the form of bonds and/or sharia bonds which are undertaken between their users (“ Bonds Transactions ”). [3] Regulation 8/2019 encompasses the following specific matters: