Board of Commissioners of the Financial Services Authority (OJK) has suspended business activities of PT Eterindo Pacific Finance since the company did not comply with provisions stipulated in Article 14 of OJK Regulation Number 28/POJK.05/2014 on business licensing and organizational matters for finance company, Article 4 clause (2) on implementation of Know Your Customer principle for non-bank financial institutions (Finance Minister Regulation PMK 30/2010), and Article 62 clause (1) of OJK Regulation Number 29/POJK.05/2014 on business management for finance company. With the suspension given to PT Eterindo Pacific Finance, the finance company is therefore prohibited from carrying out business activities.
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