OJK Further Regulates Fit-and-Proper Testing for Major Party Candidates of Investment Managers and Investment Advisors

In order to implement Regulation of the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) No. 27/POJK.03/2016 on Fit-and-Proper Testing for Major Parties of Financial Service Institutions (“ Regulation 27/2016 ”), the OJK has issued Circular No. 2/SEOJK.04/2020 on Fit-and-Proper Testing for Prospective Major Parties of Investment Managers and Investment Advisors (“ Circular 2/2020 ”).