Earlier this year, the power of the Financial Services Authority (OJK) was strengthened by the authority to investigate along with the enactment of Law No. 4/2023 concerning Development and Strengthening of the Financial Sector (UU PPSK). However, we all know that the institution has never been without problems and with so many responsibilities, its performance is still being questioned by many parties. The question was brought to the Constitutional Court in the form of a Judicial Review application several months ago, but while the court examination is ongoing, the OJK recently issued the technical regulation on the disputed new authority.
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