Indonesia's Company Law regulates how companies operate their corporations in Indonesia. One regulatory development is noteworthy and this was the enactment of Law No. 2 of 2014 regarding Notaries (Law 2/2014).
Indonesia's international investment policy has been in the spotlight since the Government of Indonesia (the GOI) conveyed in 2014 its intention to terminate all of its existing bilateral investment treaties (BITs).
There have been several Indonesian employment law developments since the beginning of the year. While these are not particularly big changes, it is important for businesses in Indonesia to stay on top of the latest employment rules.
Presidential Regulation No. 44 of 2016 regarding the List of Business Fields that Are Closed and Business Fields that Are Conditionally Open for Investment (the 2016 Negative Investment List or 2016 DNI) replaces the 2014 Negative Investment List or 2014 DNI, and was made public on May 24, 2016.
The Financial Services Authority (the OJK) has had regulatory authority over Indonesian banks, except Bank Indonesia (BI), since December 31, 2013,as stipulated under Law No. 21 of 2011 regarding the Financial Services Authority. BI is Indonesia's central bank and maintains jurisdiction over the monetary supply.