{
    "success": true,
    "data": {
        "id": 1832811,
        "msgid": "ojk-assures-idx-independence-will-be-maintained-if-demutualisation-proceeds-1782831296",
        "date": "2026-06-30 21:02:00",
        "title": "OJK Assures IDX Independence Will Be Maintained if Demutualisation Proceeds",
        "author": "",
        "source": "TEMPO_ID_BISNIS",
        "tags": "",
        "topic": "Finance",
        "summary": "Indonesia's Financial Services Authority (OJK) has pledged to safeguard the independence of the Indonesia Stock Exchange (IDX) under a demutualisation plan that could see the government become a shareholder. The regulator confirmed that any new rules for the exchange would require OJK approval, maintaining its oversight of the Self-Regulatory Organisation. Implementing regulations are targeted for completion within three months, though the Finance Ministry has indicated it currently has no plans to acquire a stake.",
        "content": "<p>The Financial Services Authority (OJK) has stated that the\nindependence of the Indonesia Stock Exchange (IDX) will be maintained\neven if the government becomes a shareholder through the demutualisation\nmechanism. Demutualisation is the process of transforming a stock\nexchange entity into a share-based corporation, allowing ownership\nbeyond its members, including the public.<\/p>\n<p>Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance\nand Carbon Exchange Supervision at OJK, said that although the\ninstitutional structure of the exchange will change to a demutualised\nform, the supervisory framework will remain the same. According to\nHasan, the OJK will ensure that the independence of the capital market\nSelf-Regulatory Organisation (SRO)\u2014comprising the IDX, the Indonesian\nCentral Securities Depository (KSEI), and the Indonesian Clearing and\nGuarantee Corporation (KPEI)\u2014remains under the sole supervision of the\nOJK.<\/p>\n<p>\u201cSo even if the direction is determined by new interests, ultimately\nthe draft regulations must pass through the approval desk at OJK before\nbeing enacted,\u201d he told the media at the Indonesia Stock Exchange on\nTuesday, 30 June 2026. The OJK is targeting the completion of\nimplementing regulations for demutualisation within the next three\nmonths. One aspect regulated in these rules is which parties are\npermitted to become shareholders of the exchange. Based on Law Number 4\nof 2026 concerning the Development and Strengthening of the Financial\nSector (P2SK), the government\u2014specifically Bank Indonesia, the Ministry\nof Finance, and Danantara\u2014can become shareholders of the exchange.<\/p>\n<p>Hasan stated that the initial OJK regulation on demutualisation will\nnot yet regulate the scheme for an initial public offering (IPO) of\nshares. He mentioned that in the early stages, demutualisation will be\ncarried out through a private deal scheme or a sale and purchase\nagreement among exchange members. The three state institutions mentioned\nin the P2SK Law, Hasan noted, have not yet expressed interest in\nbecoming shareholders of the exchange. This is because all stakeholders\nare currently waiting for the implementing regulations on\ndemutualisation to be issued.<\/p>\n<p>\u201cAfter that, because they are specifically mentioned\u2014again, this is\n\u2018can\u2019, not \u2018must\u2019\u2014the first opportunity will be open for the Ministry of\nFinance, then Bank Indonesia, and also Danantara,\u201d he said. Previously,\nFinance Minister Purbaya Yudi Sadewa stated that the Ministry of Finance\ndoes not yet have plans to own shares in the Indonesia Stock Exchange,\neven though it is permitted by law. \u201cAs of now, not yet,\u201d Purbaya said\nin Tanjung Priok, North Jakarta, on Tuesday, 23 June 2026.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ojk-assures-idx-independence-will-be-maintained-if-demutualisation-proceeds-1782831296",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}