The Indonesian Financial Services Authority (Otoritas Jasa Keuangan, “OJK”) has issued OJK Regulation No. 30 of 2024, introducing comprehensive requirements for Financial Conglomerates and their Holding Companies (Perusahaan Induk Konglomerasi Keuangan, “PIKK”). This regulation enhances governance, risk management, supervision, and capital structuring, requiring Financial Conglomerates that meet specific asset and sector thresholds to establish a PIKK. It defines two types of PIKK: Operational PIKK, which also functions as a financial services institution, and Non-Operational PIKK, which serves solely as a holding company. Key responsibilities include strategic oversight, compliance with OJK regulations, periodic reporting, and maintaining strict governance standards.

With OJK playing a central role in approvals, oversight, and enforcement, POJK 30/2024 represents a major advancement in Indonesia’s financial regulatory framework. By promoting greater accountability, stability, and sustainable growth, the regulation urges financial conglomerates to reassess their structures, align strategies, and strengthen governance to meet the new requirements.

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