Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) will\nsoon issue regulations for influencers marketing financial services\nproducts. OJK Commissioner Council Chair Friderica Widyasari Dewi stated\nthat these regulations could be incorporated into law due to their\nimportance for the sustainability of the financial services\nindustry.<\/p>\n
The woman, familiarly known as Kiki, emphasised that the rules for\nfinancial influencers (finfluencers) also apply to anyone recommending a\nparticular stock.<\/p>\n
\u201cBecause the capital market is governed by Law 98 or 95, which\napplies to anyone. Anyone can face up to criminal penalties if they, for\nexample, provide comments on stocks and so on, that are not done in good\nfaith and cause losses to other parties,\u201d she said when met at the RI\nHouse of Representatives building in Jakarta, quoted on Tuesday\n(7\/4\/2026).<\/p>\n
In this regard, OJK has proposed to the House of Representatives\nCommission XI to consider articles regulating criminal norms and\ncriminal sanctions against parties conveying untrue information related\nto financial products by influencers.<\/p>\n
\u201cWe request consideration for the need for articles regulating\ncriminal norms and criminal sanctions against parties conveying untrue\ninformation related to financial products, services, and\/or instruments,\nor what we know as financial influencers,\u201d she said during a meeting\nwith Commission XI at the RI House of Representatives building in\nJakarta.<\/p>\n
Kiki stressed that OJK will strictly enforce violations of the law,\nincluding stock transaction manipulation and misleading information.\nSanctions will also be imposed on financial influencers (finfluencers)\nwho provide irresponsible recommendations that disturb the public.<\/p>\n
\u201cSo we don\u2019t regulate the person, but the activities of anyone who\nthen says something that can cause losses to others,\u201d she explained.<\/p>\n
It was emphasised that OJK will monitor practices that have drawn\npublic attention, namely stock \u201cpompom\u201d actions or excessive promotion\nof certain products that can influence public investment decisions and\ncause losses.<\/p>\n
\u201cLike the stock pompom and so on from before,\u201d she said.<\/p>\n
OJK Executive Head of Capital Market, Derivatives Finance, and Carbon\nExchange Supervision Hasan Fawzi stated that the OJK Regulation for\nsocial media practitioners will be completed in the first semester of\nthis year.<\/p>\n
Hasan revealed that the regulation has been discussed in the\nCommissioner Council Meeting (RDK) and is currently in the drafting\nprocess and has entered the final stage for promulgation.<\/p>\n
\u201cFirst semester. We have already discussed the draft concept of the\nregulation in the RDK forum,\u201d he said when met at the BI Building,\nquoted on Tuesday (24\/2\/2026).<\/p>\n
For information, previously OJK has regulated cooperation between\nsecurities companies and social media practitioners or influencers\nthrough Financial Services Authority Regulation Number 13 of 2025 (POJK\n13\/2025).<\/p>\n
These provisions are outlined in Articles 106 to 110, which\nspecifically regulate the scope of collaboration between Securities\nTrading Intermediaries (PPE) and Regional Securities Companies (PED)\nwith social media practitioners.<\/p>\n
In Article 106 paragraph (1), it is stated that PPE may collaborate\nwith social media practitioners. However, the collaboration must be\ndocumented in a written agreement and establish a clear scope.<\/p>\n
There are three forms of collaboration regulated. First, social media\npractitioners only provide advertising media and\/or convey general\ninformation related to the capital market without offering to\nprospective clients and without involving personal analysis or\nassessment of specific securities, products, or services.<\/p>\n
Second, social media practitioners offer to prospective clients to\nbecome clients of PPE or PED. Third, social media practitioners provide\nanalysis and\/or recommendations on specific securities, products, or\nservices from PPE and PED.<\/p>\n
Regarding licensing obligations, Article 107 states that influencers\nwho only carry out functions as per letter a (advertising and general\ninformation) are not required to be registered as marketing partners and\ndo not need to have business licences or individual licences from\nOJK.<\/p>\n
However, different obligations apply to the other two categories.<\/p>\n
In Article 108, PPE and PED collaborating with influencers to offer\nto prospective clients must ensure that the social media practitioners\nmeet OJK\u2019s provisions regarding securities company marketing\npartners.<\/p>\n
Meanwhile, Article 109 explicitly states that influencers providing\nanalysis or recommendations on securities must have a licence as\ninvestment advisors.<\/p>\n
Article 110 regulates transparency obligations. For collaborations in\nthe advertising and general information category, PPE and PED must\ninclude disclosures in advertising materials that the social media\npractitioner is not an employee of the securities company and does not\nhave an OJK licence.<\/p>\n
In Article 111, OJK states that any party violating the provisions in\nseveral related articles, including regulations on collaboration with\nsocial media practitioners (Article 106 paragraph (2), Article 108,\nArticle 109, and Article 110), may be subject to administrative\nsanctions.<\/p>\n
These sanctions also apply to parties causing violations and are\nimposed directly by OJK.<\/p>\n
Forms of administrative sanctions include written warnings, fines,\nrestrictions on business activities, suspension of business activities,\nrevocation of business licences, cancellation of registration, and\nrevocation of individual licences.<\/p>\n
Imposition of sanctions may be done with or without prior written\nwarnings, and fines may be imposed separately or together with other\nsanctions, in accordance with capital market legislation.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ojk-beware-influencers-commenting-on-stocks-could-face-criminal-charges-1775613259", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }