COPY OF THE CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 18/SEOJK.03/2025 CONCERNING THE FIT AND PROPER TEST OF THE PRINCIPAL PARTY OF A NON-OPERATIONAL FINANCIAL CONGLOMERATE HOLDING COMPANY (SEOJK 18/2025)
Abstract:
- SEOJK 18/2025 is issued to regulate the implementation of the fit and proper test of the principal party of a Non-Operational Financial Conglomerate Holding Company under the Circular Letter of the Financial Services Authority.
- SEOJK 18/2025 governs the fit and proper test, including: parties subject to the test, assessment factors, administrative requirements, execution of the test, resubmission of candidates for members of the board of directors, board of commissioners, and/or sharia supervisory board (DPS) who were previously disapproved, and changes in ownership within a financial conglomerate.
- SEOJK 18/2025 regulates the address for submission of information, consisting of:
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- Submission of application documents: delivered to OJK through the integrated licensing system. If the system is unavailable or disrupted, documents may be submitted through other media (e.g., correspondence system) or offline to the OJK work unit handling Financial Conglomerate and PIKK licensing.
- Planned changes in ownership: submitted to OJK through the integrated licensing system or OJK reporting system. If the system is unavailable, documents shall be submitted offline to the OJK work unit handling Financial Conglomerate and PIKK supervision.
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Other Provisions:
- SEOJK 18/2025 shall take effect on the date of its stipulation.
- SEOJK 18/2025 was stipulated on July 24, 2025.
Author:
Evi Mutiara
Editor:
Muhammad Arief Ramadhan, S.H.
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