Indonesia brings financial influencers under OJK oversight with new conduct rules

Indonesia's financial influencers are entering a new era of regulatory oversight after the Financial Services Authority (OJK) introduced a comprehensive framework governing how financial information is communicated to the public.

The new regulation, POJK No. 6 of 2026 on the conduct of financial information communicators, establishes standards for parties that publish financial content intended to improve financial literacy or influence consumers' decisions regarding financial products and services.

The framework reflects OJK's growing focus on consumer protection as financial creators gain influence across social media platforms, particularly in areas such as investments, capital markets and digital assets.

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According to OJK, the regulation is intended to ensure financial information is delivered in a way that is "clear, accurate, honest, accessible, and not potentially misleading," while strengthening public trust in Indonesia's financial services ecosystem.

The authority added that the regulation is expected to serve as a guideline for financial influencers "to jointly maintain the quality of financial sector information in order to create a financial services ecosystem that is increasingly trustworthy, has integrity, and supports greater financial literacy."

Greater accountability for brands and influencers

Rather than regulating influencers alone, the framework places significant responsibility on Financial Services Business Actors (PUJK) that collaborate with creators for marketing campaigns.

Financial institutions must ensure influencers clearly disclose their identity and commercial relationship with the company, promote only products covered under their contractual agreement, and market products that have received OJK approval.

Companies are also responsible for ensuring influencers possess the necessary skills, competencies or qualifications to communicate financial products appropriately, while complying with consumer data protection requirements.

Failure to meet these obligations can result in administrative sanctions, including fines of up to IDR 15 billion (US$840,000).

Higher standards for recommendations

The regulation also introduces stricter requirements for influencers providing recommendations rather than general educational content or marketing.

Where recommendations require professional licensing under existing laws, influencers must obtain the relevant authorisation. For example, individuals recommending capital market products must hold an investment adviser licence where required by regulation.

For digital financial assets, including cryptocurrencies, influencers providing recommendations will also need competency certification and demonstrated knowledge of the financial services sector.

The distinction signals OJK's intention to differentiate between promotional content, financial education and regulated financial advice, aligning Indonesia's influencer ecosystem more closely with professional standards.

Digital enforcement powers

Beyond setting behavioural standards, the regulation equips OJK with additional supervisory and enforcement mechanisms.

The framework covers influencer conduct, financial education activities, marketing practices, recommendation services, the use of OJK's financial education learning management system, supervisory measures, written orders and the authority to terminate access to electronic media where necessary.

OJK said the regulation was developed as a preventive measure to reduce consumer losses arising from financial information disseminated by influencers.

As financial content continues to attract millions of views across platforms, the regulation marks one of Indonesia's clearest attempts yet to balance the growing commercial influence of creators with stronger transparency, accountability and consumer protection standards.

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