Oene Marseille Emir Nurmansyah Indonesia's Financial Services Authority (the OJK) has recently issued OJK regulation number: 2/POJK.04/2013 on share buybacks issued by issuers or public companies in significantly fluctuating market conditions (the Regulation). The Regulation came into effect on August 23 2013. The relaxation of regulations is supposedly part of the recent support package put in place to aid the downward pressure on the Indonesian currency and downward adjustment in the Indonesian stock market. The Regulation aims to reduce the impact of a significantly fluctuating market and the resulting pressure on the domestic stock exchange, by giving flexibility to the issuer or public company (the Company) to conduct share buybacks without having to violate the prevailing laws and regulations.
September 22 2013