OJK Has Released New Regulations Regarding The Development And Strengthening Of Investment Management In The Capital Market

The Financial Services Authority (OJK) has issued Regulation OJK (POJK) Number 33 of 2024 concerning the Development and Strengthening of Investment Management in the Capital Market. Acting Head of the Department of Financial Literacy, Inclusion, and Communication at OJK, M. Ismail Riyadi, stated that this initiative aims to positively contribute to and support inclusive and sustainable economic growth, particularly in investment management within the capital market. "This POJK serves as the implementation regulation of Article 24 of Law Number 8 of 1995 on the Capital Market, as amended by Law Number 4 of 2023 regarding the Development and Strengthening of the Financial Sector related to Investment Management in the Capital Market," he mentioned in a press release on Saturday (February 1, 2025).

He further explained that the regulations outlined in this POJK include requirements for mutual funds to accept or provide loans. Additionally, the POJK sets forth the requirements and limitations for mutual funds investing in shares of mutual funds structured as corporations or units of participation in mutual funds structured as other collective investment contracts.

It is important to note that this POJK will take effect from its promulgation date, which is December 23, 2024. Upon the implementation of this POJK, Article 6, paragraph (1), letters p and q of OJK Regulation Number 23/POJK.04/2016 regarding Mutual Funds in the Form of Collective Investment Contracts, Article 3, letter m of OJK Regulation Number 32/POJK.04/2017 concerning Guidelines for the Management of Mutual Funds in the Form of Corporations, and Article 15, letter m of OJK Regulation Number 33/POJK.04/2017 regarding Guidelines for the Management of Mutual Funds in the Form of Corporations will be revoked and declared invalid.

Tag: Capital Market Financial Services Authority OJK