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News & Analysis

New Financial Service Authority Regulation on Peer-to-Peer Lending

06 September 2022 by Makarim & Taira S - Indonesia

The ever-growing industry of Peer-to-Peer Lending (“P2P Lending”) has driven the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) to issue OJK Regulation No. 10/POJK.05/2022 on Technology-Based Collective Financing Services, which came into force on 4 July 2022. The regulation provides more detailed and extensive provisions to cater with the rapid development of the industry. This advisory serves as a brief introduction to the regulation, in order to gauge the new regulatory framework for P2P Lending and how it differs from its predecessor, including the transition period for existing P2P Lending Providers to comply with the new requirements under this regulation.

News & Analysis

Update on the Terms of Domestic Non-Deliverable Forward Transactions Under Indonesian Law

18 August 2022 by Makarim & Taira S - Indonesia

Bank Indonesia recently updated its regulation on domestic non-deliverable forward (DNDF) transactions. Bank Indonesia Regulation No. 24/7/PBI/2022 on Foreign Exchange Market Transactions (“BI Reg. 24/7/2022”) replaces the previous regulation on DNDF, BI Regulation No. 20/10/PBI/2018 (as amended). BI Reg. 24/7/2022 makes some noteworthy amendments on the DNDF terms and introduces new thresholds and provisions on DNDF transactions. This Advisory covers the salient key points that banks and business actors need to note in the new BI Reg. 24/7/2022.

News & Analysis
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DEAL OF THE MONTH - AUGUST 2022

16 August 2022 by asialaw

asialaw's Deal of the Month for August 2022 is...

News & Analysis
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asialaw Awards 2022/23 – Join us now!

16 August 2022 by asialaw

asialaw is pleased to present our awards virtual ceremony...

News & Analysis

Employment (Amendment of First Schedule) Order 2022

16 August 2022 by Shearn Delamore & Co - Sivabalah Nadarajah, Benedict Ngoh Ti Tang

On 12 August 2022, the much-anticipated Employment (Amendment of First Schedule) Order 20221 (“2022 Order”) was gazetted and it will come into force with effect from 1 September 2022.

News & Analysis

Regulation on The Taxation of Financial Technology Implementation Services

13 July 2022 by Makarim & Taira S - Indonesia

In order to provide clarity regarding the tax obligations of financial technology providers and users in Indonesia, Indonesia’s Minister of Finance (“MOF”) issued MOF Regulation No. 69/PMK.03/2022 on the Income Tax and Value Added Tax on the Organization of Financial Technology (“MOF Reg 69/2022”) on 30 March 2022, which came into force on 1 May 2022. This regulation mainly covers Income Tax on Peer-to-Peer and Value Added Tax on financial technology service transactions.

News & Analysis

New Amendments to the Prosecutors’ Office Act and the Criminal Procedure Code

04 July 2022 by Jipyong - South Korea

The latest amendments to Korea’s Criminal Procedure Code (the “CPC”) and the Prosecutors’ Office Act (the “POA”), intended (among others) to limit the prosecution’s power to conduct investigations directly, was passed by the National Assembly on May 9, 2022 and is scheduled to come into effect on September 10, 2022. Some of the key amendments, as well as the answers to some frequently asked questions (FAQ) on such amendments, are provided below.

News & Analysis

ESG Series – Green and Sustainable Finance Grant Scheme of Hong Kong

01 July 2022 by LC Lawyers

It has been one year since the launch of the Green and Sustainable Finance Grant Scheme (Scheme) in May 2021. The Hong Kong Monetary Authority (HKMA) announced in its Quarterly Bulletin of March 2022 that more than 60 debt instruments had been approved under the Scheme. This article summarizes the core elements of the Scheme and provides tips for applications.

News & Analysis

ESG Series – International Capital Market Association: Principles on Sustainable Finance Instruments

28 June 2022 by LC Lawyers

Green, social and sustainability-linked bonds listed on the Hong Kong Stock Exchange adopt principles formulated by the International Capital Market Association (ICMA). This article introduces the core elements in those principles.

News & Analysis

Synergize GBA series: Cross-border data transfers in mainland China

27 June 2022 by LC Lawyers

In 2021, we have seen significant changes in the data protection regime in mainland China. Specifically, the Data Security Law (DSL) and the Personal Information Protection Law (PIPL) came into effect on 1 September 2021 and 1 November 2021 respectively.