Financial Services Authority Regulation Number 6 of 2026 Regulates Financial Influencers, Now Subject to OJK Supervision and Violations May Result in Access Termination

Introduction

On 26 May 2026, the Financial Services Authority issued Financial Services Authority Regulation Number 6 of 2026 on the Conduct of Financial Services Sector Information Providers (“POJK 6/2026”), which took effect on 4 June 2026. POJK 6/2026 establishes standards of conduct for parties other than Financial Services Businesses (“PUJK”), such as influencers, educators, or independent promoters, who disseminate information with the objective of improving financial literacy and/or influencing the public in utilizing products within the financial services sector.

POJK 6/2026 was enacted to safeguard public trust and maintain the stability of the national financial system amid the rapid evolution of digital information flows. The Financial Services Authority (“OJK”) recognizes that the dissemination of inaccurate information is frequently exploited by irresponsible parties for personal gain. Accordingly, this regulation was issued to prevent consumer losses and to take firm action against marketing practices that have the potential to mislead the public.

Key Provisions

Basic Standards of Conduct and Prohibitions for Information Providers

Under Article 2, every Information Provider is required to act in good faith, responsibly, and to present information that is clear, accurate, honest, and not misleading.

POJK 6/2026 prohibits the dissemination of information promising guaranteed returns (fixed returns) on financial products where such claims are inconsistent with the actual characteristics of the products. Information Providers are also prohibited from comparing products without balanced analysis, promoting products without official authorization, and cooperating with illegal entities.

An Information Provider is defined as any party other than a PUJK that disseminates information concerning the financial services sector with the purpose, whether directly or indirectly, of enhancing financial literacy.

Obligation to Disclose Conflicts of Interest and Risk Disclaimers

Pursuant to Articles 3 and 4, where an Information Provider receives remuneration or any economic benefit from the activities it conducts, it must clearly disclose the existence of such interest (for example, referral arrangements or paid promotions).

Furthermore, where the information relates to high-risk products, complex financial products, online lending services (for both lenders and borrowers), or buy now, pay later services, the Information Provider must include a risk warning and a disclaimer advising the public to conduct their own assessment before entering into any transaction.

Financial Education Activities

Pursuant to Article 6, in conducting financial education activities, the information presented must comprehensively and fairly describe the characteristics of the relevant product, including its description, benefits, risks, costs, and the rights and obligations of consumers.

Where an Information Provider utilizes investment or financing simulations, it must disclose the calculation methodology used and include a clear disclaimer stating that the simulation is provided solely for illustrative purposes and does not constitute a guarantee of future outcomes.

Marketing Activities and Provision of Recommendations

Articles 7 and 8 distinguish between marketing activities and recommendation activities.

Marketing activities must be based on an official cooperation agreement with a PUJK, under which the PUJK remains responsible for the content disseminated. In addition, the marketing of crypto asset products may only be carried out through official media channels owned by the PUJK.

Meanwhile, Information Providers that provide recommendations are required to demonstrate their competence by possessing an official license or relevant professional certification in the financial services sector.

OJK’s Authority to Order Access Termination (Take Down)

Pursuant to Article 12, OJK is authorized to submit requests for access termination to the ministry responsible for communications and information affairs.

In circumstances that have the potential to cause significant public harm, such as indications of fraud or the promotion of illegal investment schemes, OJK may immediately request account blocking, content removal, or the closure of electronic media without first issuing a warning letter or undertaking supervisory measures against the Information Provider.

This authority is intended to expedite the cessation of information dissemination that may harm the public while strengthening consumer protection in the financial services sector.

Administrative Sanctions Against Financial Services Businesses for Marketing Violations

Pursuant to Article 7 paragraph (7), PUJK that violate the provisions governing marketing activities conducted in cooperation with Information Providers may be subject to administrative sanctions according to the severity of the violation.

Such sanctions include:

·      Written warning;

·      Restriction of products, services, and/or business activities, either partially or entirely;

·      Suspension of products, services, and/or business activities, either partially or entirely;

·      Removal of management;

·      Administrative fines;

·      Revocation of product and/or service licenses; and/or

·      Revocation of the business license.

Pursuant to Article 7 paragraphs (8) and (9), sanctions in the form of business activity restrictions, suspensions, removal of management, administrative fines, and license revocation may be imposed with or without a prior written warning, depending on the severity of the violation.

In addition, administrative fines may be imposed up to a maximum amount of IDR15,000,000,000 (fifteen billion rupiah).

Exemptions from the Scope of Regulation Governing Information Dissemination

Article 14 provides that the provisions of this POJK do not apply to all forms of dissemination of financial services sector information.

POJK 6/2026 exempts information dissemination carried out by professionals outside the financial services sector, provided that such dissemination is conducted in the course of performing their professional duties in accordance with applicable laws and regulations and professional codes of ethics.

The exemption also applies to information disseminated by the Government or competent authorities in the performance of their official duties and functions.

Accordingly, the regulation remains focused on marketing activities and the dissemination of financial services sector information conducted by PUJK and Information Providers within the context of commercial relationships.

Transitional Provisions

Article 16 provides that PUJK and Information Providers that entered into marketing cooperation agreements before 4 June 2026 are required to review and revise all such cooperation materials to ensure compliance with POJK 6/2026 no later than 4 December 2026.

Closing

POJK 6/2026 not only establishes standards of conduct for Information Providers but also reinforces the responsibility of PUJK to ensure that all marketing activities conducted through partners or third parties comply with the principles of transparency, accuracy, and consumer protection.

POJK 6/2026 requires Information Providers to enhance their competence, disclose all economic interests transparently, and comply with the prescribed standards governing the dissemination of financial information and financial education.

Meanwhile, PUJK are expected to strengthen their selection, supervision, and evaluation mechanisms for all marketing partnerships, as violations may result in administrative sanctions, including fines of up to IDR15 billion and restrictions on or revocation of business licenses.

In addition, OJK is authorized to request the termination of access to accounts or content that violate the regulation in order to accelerate the protection of the public against misleading information.