Regulatory Compliance

Our Policy and Commitments

As a steward of our customers' assets, UOBI is committed to carrying out our business activities with integrity and high ethical standards. We always comply with applicable laws and regulations, including those issued by the main regulators in the banking industry - Financial Services Authority (OJK) and Bank Indonesia (BI), as well as related regulations issued by government agencies such as Ministry of Finance, Ministry of Communication and Informatics, Ministry of Manpower, Ministry of Law and Human Rights, and Ministry of Environment and Forestry.

All UOBI employees are not allowed to get involved within conflicts of interest to benefit themselves which can harm the institution or customers.

Customer Protection Unit

• Communicating the principles of customer and community protection to the our employees;
• Coordinating, planning and implementation of customer and community protection;
• Providing reports and recommendations to management; and
• Consolidating annual self-assessments of customer protection which are then submitted to the Financial Services Authority through the website of consumer education and protection reporting information system. (https://peduli.ojk.go.id/public/login.aspx)

Prohibiting Insider Trading

UOBI has a policy on personal trading in securities which prohibits all employees from engaging in insider trading and establishes a framework for managing insider trading risk. We also provide annual online training modules on insider trading and market misconduct.

We have in place a Pre-Trade Clearance System (PTCS) which requires employees, with valid reasons, whom may have access to inside information. Hence, declarations and approvals are required before executing their trades on the stock exchanges. In addition, Compliance function regularly reviews securities transactions to detect potential violations. With this policy, we will be able to maintain the reputation and trust of our stakeholders.

Foreign Account Tax Compliance Act (FATCA)

The United States (US) tax law provisions, FATCA, requires non-US financial institutions to identify and report information about assets owned by US citizens and other non-cooperative entities and individuals to the US Internal Revenue Service.

In line with these provisions, we are committed to comply with FATCA and ensure that all requirements imposed in Indonesia are met. We have also incorporated FATCA guidelines into our governance and business operations.

Common Reporting Standard (CRS)

We also implement CRS, a global tax information exchange standard developed by OECD to help prevent foreign tax evasion. Through the CRS, we have participated to identify, collect and report annually to the authorities regarding tax resident information from jurisdictions where information exchange agreements are made. Our CRS operation programme guarantees that we have complied with all CRS requirements applicable in Indonesia.