Indonesian OJK License Inquiry Process | Otoritas Jasa Keuangan Regulatory Compliance Guide

1. Introduction to OJK and its Regulatory Framework

1.1 Background of the Establishment of OJK

The Financial Services Authority of Indonesia (Otoritas Jasa Keuangan, OJK) was established on November 22, 2011 , pursuant to Act No. 21 of 2011. It officially assumed full financial regulatory responsibility on January 1, 2013. Its original purpose was to consolidate the regulatory responsibilities of the banking sector (formerly managed by Bank Indonesia), the capital markets (formerly managed by Bapepam-LK), and non-bank financial institutions, thereby enhancing regulatory transparency, strengthening investor protection, and promoting financial system stability.

1.2 Scope of supervision

OJK's regulatory scope covers almost all areas of financial services:

• Banking industry : commercial banks, Islamic banks, rural banks, etc.

• Capital markets : securities firms, investment advisors, asset management companies, and stock exchanges.

• Non-bank financial institutions : insurance companies, pension funds, multi-financing companies, and fintech platforms (P2P, electronic payments).

• Virtual assets and financial technology : Although some encryption-related businesses have not been fully incorporated into the OJK, those involving investment, securities attributes or fundraising activities will be supervised by the OJK, while those involving digital asset transactions will mainly be under the jurisdiction of the Indonesian Commodity Futures Trading Authority (BAPPEBTI ).

In other words, OJK is closer to a "comprehensive financial regulatory agency" and its role positioning is similar to a combination of the UK FCA + US SEC + Japan FSA .

2. OJK License Types and Business Scope

2.1 Main license types

The types of licenses issued by OJK are extremely wide, and the core categories are as follows:

1. Capital market licenses :

• Perusahaan Efek (Securities firms, including brokerage/proprietary trading/underwriting)

• Manajer Investasi (Investment Management Company)

• Penasihat Investasi (Investment Advisory Company)

• Bursa Efek (Stock Exchange)

2. Non-bank financial institution license :

• Perusahaan Asuransi (Insurance Company)

• Dana Pensiun (Pension Fund)

• Perusahaan Pembiayaan (Financial leasing/consumer finance companies)

3. Fintech related :

• P2P lending platform (Fintech Lending)

• Digital payments and e-wallets (but partially supervised by Bank Indonesia)

2.2 Special circumstances related to foreign exchange/derivatives

In Indonesia, Forex Margin Trading is not directly regulated by the OJK, but rather by the futures commodity regulatory body BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi). Therefore:

• If the company mainly provides Forex margin/CFD → please go to BAPPEBTI for inquiries.

• If the company is engaged in investment consulting, fund management, or capital market business → please contact OJK for inquiries.

3. How to check OJK license information

OJK provides an online public inquiry system , and investors can verify whether an institution or individual holds a valid license through the following methods.

3.1 Official Website

• OJK official website: https://www.ojk.go.id

• Language: Mainly Indonesian, some columns have English introductions.

3.2 Query entry and function

On the OJK website, there are two main entrances:

1. Financial Services Institution Inquiry

• Page path: OJK website → Menu → Direktori

• Including banks, insurance, capital market companies, financial technology companies, etc.

2. Public Complaints and Investment Warning List (Satuan Tugas Waspada Investasi, SWI)

• Provide a list of companies that have been identified as illegally raising funds/investing without a license .

• Updated monthly, common scam forex/crypto platforms often appear here.

3.3 Detailed query steps

Step 1: Go to the OJK official website

Open https://www.ojk.go.id and select "Direktori" in the navigation bar.

Step 2: Select the query type

• Banking (Perbankan)

• Capital Market (Pasar Modal)

• Non-Bank Finance (IKNB, Industri Keuangan Non-Bank)

Step 3: Enter keywords

In the search bar, type:

• Company Name (Example: PT ABC Sekuritas Indonesia)

• Registration number (if any)

• or license type

Step 4: Confirm information

The system returns results, including:

• Full company name (usually PT + name + Indonesia )

• License type and number

• Office Address

• Status (Aktif/Non-Aktif, i.e., valid or revoked)

Step 5: Cross-validation

If you cannot find any results in OJK, you can further check:

• IDX (Indonesia Stock Exchange) official website

• SWI Investment Alert List

• Indonesian Ministry of Finance & BAPPEBTI List (if derivatives/forex involved)

IV. OJK query example

Example 1: Legal brokerage firm

• Enter keywords: PT Mandiri Sekuritas

• Query results: It shows that it is a capital market broker with a valid license and an office address in South Jakarta.

Example 2: Illegal Forex Platform

• Enter keywords: some overseas foreign exchange website names (such as "ABC Forex")

• Query result: No record in OJK system.

• It also appears in the SWI directory as an “investment scam/illegal fundraising”.

Example 3: P2P Platform

• Enter keywords: PT Akseleran Keuangan Inklusif Indonesia

• Query results: Displayed as approved Fintech Lending platforms.

5. Characteristics and Limitations of OJK Supervision

5.1 Features

• Centralization and unification : The previously decentralized regulatory system was integrated.

• Consumer protection : There is a dedicated complaint mechanism (Layanan Konsumen OJK).

• Warning lists are updated quickly : Illegal investment companies are often exposed in a short period of time.

5.2 Limitations

• Foreign exchange and crypto regulation is fragmented : foreign exchange margin is regulated by BAPPEBTI, and virtual currency trading is regulated by Indonesian commodity futures, which are not the primary responsibility of OJK.

• Language barrier : Most websites are in Indonesian, which makes it difficult for international investors to access them.

• Transparency is inconsistent : some information is published only in Indonesian reports, with limited access in English.

VI. Practical Recommendations for Compliance Verification

1. Always check the official OJK website first : if no results → high risk.

2. Cross-verify the BAPPEBTI directory : If you are involved in foreign exchange transactions → you must check the BAPPEBTI.

3. Check the SWI Investment Warning List : Many scams appear here first.

4. Confirm office address : Compliant companies generally have a real office in Jakarta CBD.

5. Be wary of high-yield promises : The OJK explicitly prohibits the promotion of “fixed income/risk-free returns.”

VII. Conclusion

The Indonesian Financial Conduct Authority (OJK) is the core regulator of Indonesia's financial system, with direct jurisdiction over capital markets, banks, and most non-bank financial institutions. To verify the legality of a company, investors must familiarize themselves with the OJK's license inquiry process and review the SWI Warning List and the BAPPEBTI directory .

In high-risk areas such as foreign exchange and cryptocurrencies, OJK's regulatory boundaries overlap with other agencies, so multi-platform verification is required when inquiring. Only in this way can we effectively avoid falling into the trap of fake Indonesian licenses, illegal fundraising, and virtual currency scams.