Indonesia’s Financial Services Authority introduced binding conduct standards for financial influencers on June 24, 2026, requiring clear and non-misleading product information and licensing for those who give investment recommendations. The regulation, POJK No. 6 of 2026, responds to the growing role social media personalities play in shaping retail financial decisions across the country.
Key Facts At A Glance
- Regulation: POJK No. 6 of 2026, the Conduct of Financial Information Providers
- Issued by: Otoritas Jasa Keuangan (OJK), Indonesia’s Financial Services Authority
- Effective/announced date: June 24, 2026
- Scope: Applies to non-licensed parties who distribute financial product information, commonly known as finfluencers
- Licensing requirement: Influencers recommending regulated products such as capital market instruments must hold an investment adviser license; those discussing digital financial assets need competency certification
- Enforcement powers: OJK may issue written orders, request content takedowns, or restrict platform access in urgent cases
- Penalties for institutions: Administrative sanctions, including fines of up to IDR 15 billion (about USD 835,000), for financial institutions whose influencer partners breach the rules
- Transition period: Existing marketing partnerships must be aligned with the new requirements within six months
- Exemptions: Journalists performing journalistic duties and educators teaching in academic settings are excluded from the rules
Indonesia’s regulator has moved to formalize oversight of an influencer economy that has increasingly shaped how retail investors make financial decisions. The regulation defines financial influencers as parties outside licensed financial institutions who distribute information about investment and lending products through online or offline channels. Under the new framework, influencers may engage in financial education, marketing, and recommendation activities, but recommendations on regulated products require the relevant professional license, while advice on digital financial assets such as crypto requires competency certification where no formal licensing regime yet exists.
Consumer protection sits at the center of the rule. Influencers must provide information that is clear, accurate, honest, and not misleading, and they are barred from guaranteeing investment returns, promoting unlicensed products, or partnering with illegal financial operators. Additional disclosure obligations apply to high-risk products, including digital financial assets, stocks, complex investment instruments, peer-to-peer lending for lenders, and buy-now-pay-later services, where influencers must explicitly flag risks and encourage independent analysis before consumers act.
Accountability extends beyond the influencers themselves. Financial institutions that engage influencers for marketing remain responsible for the information disseminated on their behalf and must ensure influencers disclose their commercial relationship, market only authorized products, and demonstrate adequate competence. Companies that fail to meet these standards face administrative sanctions, including fines that can reach IDR 15 billion.
OJK has also been granted supervisory tools to enforce the rules, including the authority to issue written orders against violators and to request that Indonesia’s communications ministry remove content, block accounts, or restrict access to platforms found in breach. In cases posing significant consumer risk, OJK can pursue a takedown without first issuing a warning. The regulator is encouraging influencers to use its existing financial education platform to improve the accuracy of the content they produce.
The new framework follows a string of regulatory actions targeting unlicensed investment promotion in Indonesia and arrives as social media-driven financial content continues to expand alongside the country’s digital economy. Existing marketing arrangements between financial institutions and influencers have a six-month window to come into compliance.