OJK Extends Reporting Periods for Non-Bank Financial Services Institutions

The Corona Virus Disease 2019 (COVID-19) pandemic is continuing to increase pressure upon businesses operating within the LJKNB sector, meaning that many players are now having to operate their businesses from home, which is undoubtedly a potential obstacle in terms of LJKNB businesses being able to fulfill their mandatory OJK reporting requirements in a punctual fashion. [1] As a result, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) has decided to extend the reporting period deadlines for Non-Bank Financial Services Institutions (Lembaga Jasa Keuangan Non-Bank –“ LJKNB ”) through the issuance of Letter of the OJK No. S-7/D.05/2020 on the Relaxation of the Deadline for Mandatory Reporting by Non-Bank Financial Service Institutions (LJKNB) to the Financial Services Authority (OJK) (“ Letter 7/2020 ”).