Financial Services Authority (OJK) Sets Out Restrictions on New Business Actors in Indonesia
The Financial Services Authority (“OJK”) issued the OJK Regulation in Indonesia No. 10/POJK.05/2022 concerning Information Technology Based Collective Financing Services (“POJK 10/2022”) which took effect on July 4, 2022, and revoked the Financial Services Authority Regulation No. 77/POJK.01/2016 (“POJK 77/2016”). The POJK 77/2016 was originally introduced to quickly respond to the Peer-to-Peer Lending (P2P Lending) industry…