JAKARTA - The Financial Services Authority has issued the first company’s permit to administer the Crowdfunding Service through an Information Technology-Based Stock Offering (Equity Crowdfunding) for PT Santara Daya Inspiratama domiciled in Sleman, Yogyakarta, under the name of the electronic system Santara (www.santara.co.id) .

According to POJK 37 / POJK.04 / 2018 Regarding Crowd Funding Services through Information Technology-Based Shares Offering, PT Santara officially has a business license as an Equity Crowdfunding Operator.

The activities of the Crowd Funding Service through this Information Technology based stock offering, are regulated and supervised by the OJK in order to provide legal certainty and protection for parties involved in the Crowd Funding Service activities through an Information Technology based stock offering.

OJK as the authority that supervises activities in the financial services sector applies a market conduct-based supervision approach to Crowd Funding activities. With this approach, OJK encourages the application of information disclosure by the Issuer, the establishment of a credible Operator, and the establishment of a secure and reliable Information Technology system in the activities of the Crowd Funding Management.

PT Santara Daya Inspiritama was established in 2012 in Yogyakarta and is currently focused on providing Crowd Funding services for various small businesses, such as food, sheep farming, duck farming, papaya plantations and durian. In its activities Santara has 1,082 registered investors. (LM)