OJK Updates Financial-Statement Liabilities for Issuers and Public-Company Boards of Directors

In order to redefine the scope of financial-statement liability as it applies to the Boards of Directors of issuers [1] or public companies [2] (“ BoD ”), the Financial Services Authority (OtoritasJasaKeuangan– “ OJK ”) has issued Regulation No. 75/POJK.04/2017 on the Financial-Statement Liabilities of Boards of Directors (“ Regulation 75/2017 ”).Regulation 75/2017 essentially sets out details on the following matters, as they relate to BoD liabilities: