OJK Regulates Capital Market Influencers: Three Levels of Collaboration and Required Licenses

In today’s digital era, social media has become a key channel for promotions across industries—including capital markets. Recognizing the growing collaborations between influencers and brokerage firms, the Financial Services Authority (OJK) has officially introduced new regulations in 2025 to govern such activities.

Through OJK Regulation No. 13 of 2025, the authority sets clear guidelines on how securities firms (PPE) may engage with social media influencers for promotional and marketing activities in the capital market sector. This regulation aims to protect investors and bring order to investment promotions.

OJK divides the influencer collaboration structure into three tiers, each with distinct licensing and compliance requirements:

Tier 1 – General Ads Without Offering or Analysis

Influencers serve only as a medium to share general capital market information—without making any client offers or giving investment recommendations. Under this setup:

• No license is required.

• Disclosures must be included stating that the influencer is not an employee of the securities firm and does not hold an OJK license.

Tier 2 – Offering Brokerage Services

Influencers actively encourage prospective clients to register as customers of PPE/PED. In this case:

• The securities firm must ensure the influencer is registered as an official marketing partner, following OJK marketing partnership regulations.

Tier 3 – Providing Investment Analysis or Recommendations

When influencers provide investment analysis or recommendations related to specific products or services:

• They must hold a valid investment advisor license from OJK.

• PPE and PED are responsible for verifying the influencer's licensing status.

The regulation also includes provisions on strengthening risk management in the use of information technology, including third-party technology service providers associated with brokerage firms.

According to OJK, this rule responds to the growing complexity of capital market businesses and aims to prevent conflicts of interest and misleading practices in public offerings.

However, some market observers believe the rule does not yet address influencers who promote investment schemes independently—those who promise high returns without any formal affiliation with licensed firms remain unregulated.

🔍 Is your brand or platform collaborating with influencers for capital market campaigns?
Make sure to comply with OJK Regulation 13/2025 to avoid penalties and uphold your credibility among investors.
👉 If you need legal guidance or compliance-based marketing strategies, our team is ready to help.

With this new regulation, OJK aims to create a capital market ecosystem that is more transparent, secure, and accountable in the digital age. It’s time for both securities firms and influencers to recognize the importance of ethical and licensed advertising practices.

Satra Sinar Abadi Group