Capital Market and Financial Institutions Supervisory Agency
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Capital Market and Financial Institutions Supervisory Agency (Indonesian: Badan Pengawas Pasar Modal dan Lembaga Keuangan) (shortly BAPEPAM-LK) is an institution under the Ministry of Finance (Indonesia) tasked with fostering, regulating, and supervising day-to-day capital market activities as well as formulating and implementing policies and technical standardization in the field of financial institutions. The current Chairman of Bapepam-LK is Nurhaida.[1]
Bapepam-LK was a merger of the Capital Market Supervisory Agency (Bapepam) and the Directorate General of Financial Institutions. Currently, Bapepam-LK is replaced by the Financial Services Authority (Indonesia) (OJK) since the enactment of Law of the Republic of Indonesia Number 21 of 2011.
The functions of Bapepam-LK are:[2]
- Formulation and enforcement of regulations in the field of primary and secondary capital markets
- Enforcement of regulations in the capital market
- Guidance and supervision of parties obtaining business license, approval, registration from the Agency and other parties engaged in the capital market
- Determination of the principles of corporate disclosure for Issuers and Public Companies
- Settlement of objections filed by parties imposed sanctions by the Stock Exchange, Clearing and Guarantee, and Depository and Settlement Institution
- Determination of accounting provisions in the field of capital market
- Preparation of policy formulation in the field of financial institutions
- Implementation of policies in the field of financial institutions, in accordance with applicable laws and regulations
- Formulation of standards, norms, guidelines criteria and procedures in the field of financial institutions
- Providing technical guidance and evaluation in the field of financial institutions
- Implementation of the Agency's administration
Organizational structure
Bapepam-LK consisting of 1 Chairman of the Agency and overseeing 1 Secretariat and 12 Technical Bureaus, where the scope of guidance and supervision includes aspects of capital markets, pension funds, insurance, banking and business financing services and venture capital.
The Bapepam-LK technical bureau consists of:[2]
- Bureau of Legislation and Legal Aid
- Bureau of Research and Information Technology
- Inspection and Investigation Bureau
- Investment Management Bureau
- Transaction Bureau and Securities Institution
- Service Sector Company Financial Assessment Bureau
- Real Sector Company Financial Assessment Bureau
- Bureau of Accounting Standards and Disclosure
- Banking, Financing and Guarantee Bureau
- Bureau of Insurance
- Pension Fund Bureau
- Internal Compliance Bureau