{
    "success": true,
    "data": {
        "id": 1752564,
        "msgid": "ojk-issues-new-rules-under-capitalised-securities-firms-prohibited-from-selling-arbitrarily-1779545607",
        "date": "2026-05-20 17:40:18",
        "title": "OJK Issues New Rules, Under-Capitalised Securities Firms Prohibited from Selling Arbitrarily",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Regulation",
        "summary": "The Indonesian financial regulator OJK has issued two new POJK regulations to strengthen capital adequacy and governance in securities firms and investment managers. POJK No. 3\/2026 groups securities firms into PEKU categories 1\u20133 with higher capital requirements, while POJK No. 5\/2026 creates MIKU categories 1\u20132 for investment managers and raises minimum capital and assets under management requirements, aiming to deepen the market and bolster investor protection.",
        "content": "<p>Jakarta, CNBC Indonesia \u2013 The Financial Services Authority (OJK) has\nissued two new OJK Regulations (POJKs) related to strengthening capital\nadequacy in securities companies and investment management firms (MI).\nThe two latest rules are POJK No.\u00a03 of 2026 on the Administration of\nActivities of Securities Firms Engaged in Underwriting and Securities\nBrokerage Intermediaries, and POJK No.\u00a05 of 2026 on the Administration\nof Investment Manager Activities. \u2018The two POJKs were issued to\nstrengthen resilience, governance, capital adequacy, and professionalism\nof market participants in line with increasing product complexity and\nfinancial services offerings, the development of technology and\ndigitalisation, and heightened exposure to risk and interconnections\namong financial service participants,\u2019 as quoted from BEI disclosure on\nWednesday, 20 May 2026. POJK No.\u00a03 of 2026: Through POJK No.\u00a03 of 2026,\nOJK strengthens the institutional framework of Securities Firms by\ncategorising the activities of Securities Firms (PEKU) based on capacity\nand level of capital into three categories, namely PEKU 1, PEKU 2, and\nPEKU 3. The grouping is intended to create a healthier and more\nproportional industry structure in line with the complexity of each\nSecurities Firm\u2019s business activities. In this POJK, PEKU 1 focuses on\nlimited securities marketing activities; PEKU 2 for limited business\nactivities as Securities Underwriters (PEE) or Securities Intermediaries\n(PPE); whereas PEKU 3 may conduct broader activities as PEE, PPE, or\nboth, with PPE activities including the main financing of securities\ntransactions, issuance of structured products, and other services\nproviding overseas securities transaction services. This POJK also\nstrengthens capital provisions through higher paid-up capital and\nAdjusted Net Working Capital (MKBD) minimums: PEKU 1 Rp1 billion with\nMKBD minimum Rp500 million; PEKU 2 Rp55 billion with MKBD minimum Rp50\nbillion; and PEKU 3 Rp110 billion with MKBD minimum Rp100 billion. In\naddition to strengthening capital and positive equity obligations, this\nPOJK also strengthens governance, risk management, compliance functions,\nand research functions for Securities Firms in line with the scale and\ncomplexity of their activities. Through this framework, OJK hopes the\nnational Securities Firm industry will have stronger capacity to deepen\nthe financial market, enhance investor protection, and strengthen the\nstability of the national financial system. POJK No.\u00a05 of 2026: Through\nPOJK No.\u00a05 of 2026, OJK strengthens the investment management industry\nby grouping Investment Managers by Activity (MIKU) into MIKU 1 and MIKU\n2. MIKU 1 focuses on managing particular investment products with a more\nlimited scope of activities, while MIKU 2 may undertake all Investment\nManager activities as regulated by the laws. To bolster resilience and\ncapacity of the investment management industry, OJK raises the minimum\npaid-up capital and MKBD: MIKU 1 Rp25 billion with MKBD minimum Rp5\nbillion plus 0.1 percent of assets under management; MIKU 2 Rp50 billion\nwith MKBD minimum Rp10 billion plus 0.1 percent of assets under\nmanagement. The POJK also requires minimum assets under management for\nInvestment Managers of Rp500 billion for MIKU 1 and Rp1 trillion for\nMIKU 2 within a specified period from receipt of the licence. The POJK\nalso strengthens licensing requirements for Investment Managers,\ngovernance aspects, and the quality of human resources in the investment\nmanagement industry. With the publication of the two POJKs, OJK hopes\nIndonesia\u2019s Capital Market industry will grow more soundly,\nprofessionally, transparently, and competitively, supporting deeper\nfinancial markets and boosting investor confidence in Indonesia\u2019s\nfinancial services industry.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ojk-issues-new-rules-under-capitalised-securities-firms-prohibited-from-selling-arbitrarily-1779545607",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}