Financial Services Authority (Indonesia)
|Financial Services Authority|
Otoritas Jasa Keuangan
|Superseding agency||Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK)|
|Agency executive||Muliaman D. Hadad, Chairman|
Financial Services Authority of Indonesia (Indonesian: Otoritas Jasa Keuangan) (OJK) is the Indonesian government agency that regulates and supervises the financial services sector. The OJK, is an autonomous agency designed to be free from interference, its functions, duties, and powers include regulation, supervision, inspection, and investigation. The agency was established in 2011 replacing the role of Bapepam-LK.
The agency was created in 2011 under by Act No. 21 of 2011 which organized system of regulation and supervision of financial services. It replacing the functions of the Capital Market Supervisory Agency and Financial Institution (Badan Pengawas Pasar Modal dan Lembaga Keuangan) or Bapepam-LK for short.