Draft OJK Regulation: A Step Toward Stronger Consumer Protection or an Unrealistic Framework to Implement?

OJK is taking a significant step to elevate Indonesia’s consumer-protection framework through a Draft Regulation that allows the authority to initiate lawsuits directly against financial service providers, controlling shareholders, and even parties acting in bad faith.

This long-awaited operational framework fills a major regulatory gap left by the OJK Law and POJK 22/2023, providing clarity on procedural steps, litigation flow, compensation distribution, and coordination with the forthcoming Supreme Court Regulation. With complaints in the financial sector consistently rising, this initiative signals a stronger enforcement era for market conduct and consumer rights.

Explore our full article for a comprehensive overview ot the mechanisms, scope, and broader implications of this regulatory initiative at this link