OJK Introduces New Consumer and Public-Service System for the Financial Services Sector

As set out under Law No. 21 of 2011 on the Financial Services Authority (“ OJK Law ”), the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) is authorized to protect both consumers and members of the general public. [1] As a result, in order to implement various provisions initially set out under the OJK Law, the OJK recently issued Regulation No. 31/POJK.07/2020 on the Organization of Consumer and Public Services by the Financial Services Authority within the Financial Service Sector (“ Regulation 31/2020 ”). [2]