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Securities Crowdfunding in Indonesia

July 13, 2021

“Currently, the Securities Crowdfunding service has 2 (two) types of securities that can be offered, which are equity and debt or Sukuk.” Indonesian Financial Services Authority (“Otoritas Jasa Keuangan” or “OJK”), through its OJK Regulation No. 57/POJK.04/2020 on Securities Offering through Technology and Information basis of Crowdfunding (“POJK 57/2020”), has introduced the development of crowdfunding scheme which previously only can be applied to the securities instrument with the type of

Bank Indonesia Released Regulatory Sandbox for Fintech Provider

June 18, 2021

“Regulatory Sandbox by BI has purposed on a limited trial place to test Fintech Providers’ technologies, services, products, and/or business models which related into payment system industry.” Following the integration of technological innovation with financial features, Bank Indonesia (“BI”) has stipulated the framework of regulation, supervision, and observation upon Financial Technology (“Fintech”) as regulated in Bank Indonesia Regulation No. 19/12/PBI/2017 on Financial Technology (“PBI 19/2017”). One of the scopes regulated

Limitation on the Responsibility of Fintech Providers in Indonesia

June 7, 2021

“Fintech Providers in Indonesia have responsibilities according to the type of business and its regulation.” Within the development of the Financial Technology (“Fintech”) industry in Indonesia, the Fintech Providers had dealt with many platform’s problems faced by the consumers. The problems can be in the platform’s technical issues, investment losses, the event of default, and financial crime modes (skimming, phishing, and vishing). Following the platform’s problems that have been mentioned

A New Provision on Legalization for Foreign Public Documents

June 3, 2021

Indonesia’s government has finally ratified the 1961 Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (“Apostille Convention”) through the issuance of Regulation of the President No. 2 of 2021 (“Regulation 2/2021”) that has been in force since 5 January 2021. The Regulation marked the simplifying foreign public documents named Apostille Certification. However, it does not mean that all the provision about the legalization is revoked, only to

Legal Impacts of Merger on Employment Status

May 18, 2021

Legal Impacts of Merger on Employment Status | “While a merger may benefit companies from the business perspective, a merger is legally acknowledged as a reason for termination of employment, which may entail an obligation to preserve the financial entitlements of the employees.” According to Law No. 40 of 2007 concerning Limited Liability Company (“Company Law”), the merger is defined as a corporate action taken by one or more companies

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Securities Crowdfunding in Indonesia

Bank Indonesia Released Regulatory Sandbox for Fintech Provider

Limitation on the Responsibility of Fintech Providers in Indonesia

A New Provision on Legalization for Foreign Public Documents

Legal Impacts of Merger on Employment Status