Indonesia Issues Important New Regulation on Electronic (Network and Information) Systems
30 Oct 2019
Significant Changes to Operator Classification, Registration Requirements, Data Localization Rules, Personal Data Protection, Right to Be Forgotten, and Government Authority to Block Access An important new regulation on electronic systems has recently been issued, namely, Government Regulation No. 71 of 2019 (“GR 71/2019”[1], effective 10 October 2019), which revokes Government…
ABNR Assists The Ocean Cleanup with Pioneering Plastic-Pollution Project in Indonesia
29 Oct 2019
ABNR is honored to have provided pro bono (free) legal assistance to The Ocean Cleanup on the legal aspects of its river cleanup project in Jakarta, which was unveiled on 26 October 2019 and represents a revolutionary breakthrough for dealing with the plastic pollution problem in our oceans. The project involves the installation of a new technology called the InterceptorTM at the Cengkareng…
KPPU Flexes Muscles with Revamped Merger Control Guidelines
16 Oct 2019
New Notification Requirement for Asset Transactions, Possible Expansion of Notification Requirement for Foreign-to Foreign Transactions and Extension to Transactions Between Affiliates After fining numerous companies for late notification of mergers, consolidations and acquisitions in recent months, the new commissioners of the Indonesian Competition Commission (“KPPU”) that…
ABNR Wins Big at ALB Indonesia Law Awards 2019
14 Oct 2019
ABNR Counsellors at Law has emerged as one of the top winners at the annual ALB Indonesia Law Awards, which were presented last night (Oct 10) at a gala event in the Grand Hyatt Jakarta. ABNR received a total of four awards in the prestigious law-firm and individual-lawyer categories, with senior ABNR partner and Management Committee member Mr. Emir Nurmansyah taking the trophy for “Deal…
Manpower Ministry Issues Consolidated List of Roles that May be Filled by Expatriate Employees
06 Sep 2019
A. Introduction The Minister of Manpower (the “Minister”) has issued a new decree (Decree No. 228 of 2019 / “Decree 228,”[1] effective 27 August 2019) that sets out a consolidated, 138-page list of positions that may be filled by expatriates in Indonesia. The more than 2,200 job titles listed in Decree 228 are taken directly from the International Standard Classification…
ABNR Recognized in 12 Categories in ABLJ Indonesia Law Firm Awards 2019
02 Sep 2019
Asian Business Law Journal (ABLJ), a prestigious Hong Kong-based legal publication, has named ABNR Counsellors at Law (ABNR) an award winner in 12 categories in the ABLJ Indonesia Law Firm Awards 2019: Best overall law firms Aviation Banking & Finance Competition & Antitrust Corporate & Commercial Energy Projects & Infrastructure M&A PE & VC Real Estate Restructuring,…
SUPREME COURT PUSHES AHEAD WITH EXPANSION OF E-LITIGATION SERVICES
26 Aug 2019
A. Overview The concept of e-litigation was first introduced in Indonesia with the issuance of Supreme Court Regulation No. 3 of 2018 (“Reg. 3/2018”),[1] the scope of which was largely confined to the electronic filing and service of documents, payment of court fees, and internal case administration by the courts. On the back of Reg. 3/2018, Chief Justice Muhammad…
Key Implementing Regulation Issued for Halal Law but More Needed Before Full Enforcement
24 Jun 2019
After a delay of almost five years, an essential implementing regulation has finally been issued for the Halal Products Law.[1] The new regulation (Government Regulation No. 31 of 2019 / “GR 31/2019”[2]), entered into force on 3 May 2019. GR 31/2019 contains no material changes from the draft that we analyzed in our ABNR Legal Update titled Mandatory Halal Certification in…
OJK Imposes New Requirements for Capital Increases Using Mechanisms Other than Rights Issues
31 May 2019
A. Introduction The Financial Services Authority (OJK) has issued a new regulation (the “New Regulation”) to update the rules on capital increases conducted by way of rights issues and other mechanisms by publicly listed companies (“Issuers”). The New Regulation (POJK No. 14/POJK.04/2019) entered into effect on 30 April 2019 but was only made publicly accessible…
ABNR Shines in 2019 List of Indonesia’s Top-100 Lawyers
23 May 2019
ABNR has emerged in joint first place in terms of the number of partners / foreign counsel recognized by Asian Business Law Journal (ABLJ) as being on the “A List” of Indonesia’s Top-100 lawyers, marking the second year in a row that the Firm has been at the top of ABLJ’s annual lawyer rankings. A total of six ABNR partners are recognized as being on the A-List…
IDX REVISITS AND CLARIFIES LISTING REQUIREMENTS
25 Apr 2019
A. Introduction The Indonesia Stock Exchange (“IDX”) has issued a new regulation under IDX Board of Directors Directive No. Kep-00183/BEI/12-2018, dated 26 December 2018 (the “New Regulation”), which revokes and supersedes IDX Board of Directors Directive No. Kep-00001/BEI/01-2014 (Securities Listing Regulation No. I-A - General Provisions for the Listing of Equity…
Bank Indonesia Revisits Forex-Activity Reporting Requirements
04 Mar 2019
A. Introduction Bank Indonesia has issued a new regulation (No. 21/2/PBI/2019 of 2019 / “Reg. 21”)[1] on the reporting of foreign exchange-related (“forex”) activities between Indonesian residents and non-residents. Reg. 21, which was issued on 7 January 2019 and entered into force on 1 March 2019, revokes those provisions of Bank Indonesia Regulation No. 16/22/PBI/2014…
Mandatory Halal Certification in Indonesia: Government Regulation Expected to be Issued Soon
25 Feb 2019
1. Introduction The Halal Products Law,[1] which entered into effect on 17 October 2014, envisages the establishment of a mandatory Halal certification scheme for prescribed products. However, in accordance with Indonesia’s system of hierarchical legislation, the Halal Products Law requires the issuance of various ancillary or implementing regulations so that its provisions may…
Indonesia Establishes Legal Framework for Futures Trading of Crypto Assets
18 Feb 2019
1. Introduction Following the issuance of Minister of Trade Regulation No. 99 of 2018[1] in September, which officially permits futures trading of crypto assets in Indonesia for the first time, the Commodity Futures Trading Supervisory Authority (“Bappebti”) issued Bappebti Regulation No. 5 of 2019 (“Reg. 5”)[2] on Feb 8 to provide a detailed regulatory framework…
Indonesia’s OJK Puts Framework in Place for Establishment of Securities Finance Agency
29 Jan 2019
A. Introduction The Financial Services Authority (“OJK”) has issued a regulation that provides a detailed framework for the establishment of a dedicated Securities Finance Agency (Lembaga Pendanaan Efek / “SFA”) so as to boost transaction volume and liquidity in the Indonesian stock market by, in particular, encouraging margin trading and short selling. …
Repatriation of Export Earnings to Indonesia: New Regulation Signals Stricter Approach
28 Jan 2019
A. Introduction Government Regulation No. 1 of 2019 (“GR 1/2019”),[1] which entered into effect on 10 January 2019, requires exporters in the natural-resources sector to repatriate their forex-denominated export earnings to Indonesia. While this requirement is not actually new, firmer action to enforce it has been on the cards for some time, given that it was announced…
ABNR Enhances Client Service with Appointment of Three New Partners
28 Jan 2019
As a reflection of our commitment to providing superior legal services to our clients across all practice areas, we are pleased to announce the appointment of three new partners, Ms. Monic Devina, Ms. Ammalia Putri, and Ms. Serafina Muryanti. Their appointments are effective from 1 January 2019. Monic has been with ABNR since 2005. Her key practice areas are Banking & Finance, Foreign…
Indonesia’s OJK Redefines Rules Governing Finance Companies
24 Jan 2019
The Financial Services Authority (OJK) has issued a new umbrella regulation on finance companies to take account of changes in the market since its last intervention in the form of OJK Regulation 29/POJK.05/2014 (“Reg. 29”). The new regulation (OJK Regulation No. 35 /POJK.05/2018 / “Reg. 35”),[1] which entered into effect on 28 December 2018, revokes and supersedes…
ABNR Ranked Among Top-3 Indonesian Law Firms by ‘Legal 500 Asia Pacific’ 2019
22 Jan 2019
ABNR has emerged with flying colors in The Legal 500 Asia Pacific 2019 rankings, reaffirming our status as one of Indonesia’s top-three commercial law firms. Overall, our legal expertise in a total of 12 key practice areas is recognized, while 19 ABNR lawyers are lauded as either “Leading Individuals” or “Recommended Lawyers” for their cutting-edge and innovative…
Indonesia’s OJK Moves to Regulate on Equity Crowdfunding
18 Jan 2019
1. General The Indonesian Financial Services Authority (“OJK”) has issued a long-awaited regulation on equity crowdfunding that it is hoped will provide a solid foundation for the development of the industry going ahead. The new regulation forms part of a series of instruments issued by the OJK since 2016[1] to establish a regulatory framework governing the financial technology…
BKPM Takeover of OSS Should Help Iron Out Glitches
17 Jan 2019
As we reported in our ABNR Legal Update titled The OSS System: What Exactly is it? (4 September 2018), the Online Single Submission system (“OSS”) represents a quite revolutionary new departure for business and investment licensing in Indonesia. The OSS was established by Presidential Regulation 24/2018 (“PR 24/2018”), which entered into effect on 21 June 2018. …
Corruption Court Sets Important Precedent by Finding Corporation Guilty of Tender Rigging
15 Jan 2019
In our ABNR Legal Update titled Anticorruption Latest: Some Encouragement for Whistleblowers and KPK Launches Its First-Ever Prosecution of a Corporation, published on 8 November 2018, we reported on the Corruption Eradication Commission (KPK)’s prosecution of publicly listed PT Nusa Konstruksi Enjiniring Tbk (“Nusa Konstruksi”) for corruption related to its participation…
