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Dentons HPRP Law and Regulations: 2023Outlook – Financial Sector Omnibus Law: Challenges and Anticipations

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Jakarta, IO – Dentons HPRP Law and Regulations 2023 Outlook: “The Omnibus Law on the Financial Sector” discusses challenges identified and the anticipation of the implementation of Law No. 4, Year 2023, concerning the development and strengthening of the Financial Sector (known as UU P2SK). The UU P2SK is intended to present more appealing opportunities to adopt “Environmental Social Governance” (ESG) in the financial sector. 

Vice Minister of Finance Suahasil Nazara graced the event with a Keynote Speech, while present as speakers were Managing Partner Dentons HPRP Sartono, Senior Economist of INDEF Aviliani, Senior Executive Analyst of the Financial Services Authority (OJK) Greta Joice Siahaan, Legal Head of BNI Johansyah, Vice Chairman of the Indonesian Chamber of Commerce and Industry (KADIN) Shinta Kamdani, and Partner Dentons HPRP Erwin Kurnia Winenda, Fabian Buddy Pascoal, and Partner Dentons Rodyk Singapore Ipshita Chaturvedi. 

Managing Partner of Hanafiah Ponggawa & Partners (Dentons HPRP) Sartono stated that the Law No. 4 Year 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) imposes limits a number of crucial matters. 

“The UU P2SK is expected to strengthen the governance of the financial sector, and improve public trust to achieve welfare and consumer protection,” explained Sartono at the “Dentons HPRP Law and Regulations Outlook 2023: The Omnibus Law on the Financial Sector: Discussing Challenges and Anticipation of the Implementation of the Law No. 4 Year 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) Seminar, a gathering at Hotel Shangri-La, Jakarta, Monday (20/02/2023). 

Sartono said that the seminar event was held in commemoration of the 33rd Anniversary of Dentons HPRP in Indonesia, where it was established in 1990. He added that this seminar was also expected to make a positive contribution of Dentons HPRP to the public, driving for a conducive business climate. 

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