Expertise: Banking & Finance

SSEK Partner Ira Eddymurthy Recognized as Leading Banking Lawyer for Indonesia

|

Ira A. Eddymurthy, a founding partner of SSEK Indonesian Legal Consultants, has been recognized as a leading lawyer in the 2017 edition of Who’s Who Legal: Banking. Ira is a supervising partner of SSEK’s banking and finance practice. Who’s Who Legal notes that the exceptional Ira Eddymurthy is a market-leading banking and finance practitioner with … SSEK Partner Ira Eddymurthy Recognized as Leading Banking Lawyer for Indonesia

SSEK Advises Shinhan Investment Corp. on Acquisition of Indonesian Securities Company

|

SSEK has acted as Indonesian counsel to Shinhan Investment Corporation, one of South Korea’s leading securities brokerage and investment banking houses, in its acquisition of Indonesian securities company PT Makinta Securities. Jonathan M. Streifer, a foreign legal advisor at the firm, led the SSEK team advising on the transaction. Kim & Chang was Shinhan Investment … SSEK Advises Shinhan Investment Corp. on Acquisition of Indonesian Securities Company

SSEK Represents CGIF in Notes Issuance

|

SSEK has represented the Credit Guarantee and Investment Facility (CGIF) in its role as guarantor in the issuance of two tranches of medium-term notes in the amount of IDR 140 billion (US$10.7 million). A joint venture multi-finance company issued the notes. The SSEK team was led by founding partner Ira A. Eddymurthy, with partner Denny … SSEK Represents CGIF in Notes Issuance

Indonesian Legal Review: Banking

|

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. Bank Acquisition Trends The OJK changed its policy in … Indonesian Legal Review: Banking

Indonesian Financial Regulation: A Year in Review

|

The Financial Services Authority (Otoritas Jasa Keuangan or OJK), the financial services supervisory body in Indonesia, issued more than 30 regulations in 2014 covering capital markets, banks and non-bank financial institutions. Muliaman Hadad, the chairman of the Board of Commissioners of the OJK, issued a statement that the enactment of the regulations supported the goals … Indonesian Financial Regulation: A Year in Review

Bank Indonesia Regulations on Foreign Exchange Transactions

|

By Andini H. Dewi B ank Indonesia (BI) recently issued several regulations related to foreign exchange transactions by Indonesian banks, which update existing regulations issued by BI. Below is a brief summary of the new regulations: 1. Bank Indonesia Regulation No. 16/16/PBI/2014 dated September 17, 2014 regarding Foreign Exchange Transactions against Rupiah with Domestic Parties … Bank Indonesia Regulations on Foreign Exchange Transactions

SSEK Advises Woori Bank on Acquisition of Stake in Listed Indonesian Bank

|

SSEK acted as Indonesian counsel to Woori Bank of South Korea in its purchase of a 33 percent stake in Indonesia’s Bank Himpunan Saudara 1906 for 713.1 billion Rupiah, about US$61 million. Securing approval from Indonesia’s central bank, Bank Indonesia, for the purchase took about 18 months amid an evolving regulatory environment for bank acquisitions … SSEK Advises Woori Bank on Acquisition of Stake in Listed Indonesian Bank

Primary Parties in Non-Banking Finance Institutions

|

Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) has introduced a new concept, known as Primary Parties in Non-Banking Finance Institutions, along with certain requirements that such Primary Parties must fulfill. Primary Parties, according to recent OJK regulations, are those who manage or supervise and have significant influence over Non-Banking Finance Institutions, i.e. insurance companies, pension … Primary Parties in Non-Banking Finance Institutions

OJK at Full Power After Taking Over Banking Supervision from Bank Indonesia

|

Bank Indonesia, Indonesia’s central bank, officially transferred its banking microprudential supervisory powers to the Financial Services Authority (OJK) on December 31, 2013. Agus Martowardojo, the governor of Bank Indonesia, signed the Record of Transfer (Berita Acara Serah Terima) to Muliaman D. Hadad, the Chairman of the OJK’s Board of Commissioners. The OJK now has the … OJK at Full Power After Taking Over Banking Supervision from Bank Indonesia