OJK Regulates the Form and Contents of Annual Reports Filed by Issuers or Public Companies

The Financial Service Authority (Otoritas Jasa Keuangan –“OJK”) has issued Circular Letter No. 30/SEOJK.04/2016 on the Form and Contents of Annual Reports for Issuers and Public Companies (“Circular Letter”).The Circular Letter is basically an implementation of Article 6 of OJK Regulation No. 29/POJK.04/2016 on Annual Reporting by Issuing Companies or Public Companies (“2016 Regulation”), which required further guidelines regarding the form and contents that must be adhered to by issuers and public companies during the drawing up of any annual reports.The Circular Letter is of relevance to both issuers and public companies.Annual ReportsPursuant to the 2016 Regulation, an annual report drawn up by an issuer or public company constitutes information on the performance of a Board of Directors (“BOD”) and a Board of Commissioners (“BOC”) as regards the management of any such company during the most recent financial year, and as presented at a General Meeting of Shareholders (“GMS”). [1] Such reports are to be prepared by a company or issuer’s BOD and then reviewed by a BOC before finally being submitted to the OJK no later than the fourth month after the end of the issuer or public company’s financial year. [2] Additionally, any such company must also make its annual report available to the following parties: [3]