Indonesia to fast track new super regulator

The government decides to create a new super regulator along the lines of the UK''s FSA.

The Indonesian Minister of Finance Jusuf Anwar, has told FinanceAsia.com that he is to fast track the creation of a new 'super regulator' within the next few weeks. Under existing laws, a new regulatory body will have to be created by 2010, but the government plans to complete the task five years early.

We are reviewing the capital markets law with a view to the establishment of a so-called FSA, like in London, He says. It will be where all supervision activities will be put under one roof capital markets, money markets, insurance, pension funds, finance companies and finance derivative business.

This will see all...

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