Jakarta (ANTARA) - The Financial Services Authority (OJK) has\nofficially issued Financial Services Authority Regulation (POJK) Number\n13 of 2026 regarding Stock Exchange Shareholders, which will serve as\nthe legal foundation for the stock exchange to undertake demutualisation\nmeasures.<\/p>\n
Demutualisation is a vital part of the plan to accelerate capital\nmarket integrity reforms in Indonesia. This transformative step is\nexpected to not only alter the ownership structure but also build a more\ntransparent, efficient, and innovative stock exchange.<\/p>\n
\u201cThe demutualisation structure of the stock exchange, which allows\nfor broad ownership by exchange members, strategic investors, and the\npublic, will encourage improved governance quality, open wider access to\ncapital, and accelerate the development of the stock exchange,\u201d stated\nHasan Fawzi, Executive Head of Capital Market, Derivatives, and Carbon\nExchange Supervision at OJK, in an official statement in Jakarta on\nMonday.<\/p>\n
The issuance of POJK 13 of 2026 follows the mandate of Article 63,\nnumber 3a, Paragraph 8 of Law Number 4 of 2026 concerning the Amendment\nto Law Number 4 of 2023 on the Development and Strengthening of the\nFinancial Sector, which mandates OJK to further regulate stock exchange\nshareholders through a POJK.<\/p>\n
POJK 13 of 2026 provides the legal basis for the stock exchange to\nimplement demutualisation steps, changing the ownership structure of\nexchange shares from being limited solely to exchange members (mutual)\nto being owned by individuals and\/or Indonesian legal entities,\nincluding both exchange members and non-members (demutual).<\/p>\n
The regulation covers key provisions including stock exchange shares,\nthe separation of ownership and exchange membership, the implementation\nof demutualisation, the separation of regulatory, supervisory, and\nbusiness functions, dividend distribution, and stock exchange\nreporting.<\/p>\n
Furthermore, POJK 13 of 2026 includes several regulatory substances\nto ensure the independence of the stock exchange and strengthen OJK\u2019s\nsupervision, including:<\/p>\n
The demutualisation of the stock exchange must be carried out\nwhile maintaining the independence of the exchange, market integrity,\nand the regulatory and supervisory functions of the exchange by\nOJK.<\/p><\/li>\n
Ownership of the stock exchange by parties other than exchange\nmembers must be conducted while maintaining the exchange\u2019s\nindependence.<\/p><\/li>\n
The ownership of stock exchange shares by shareholders must be\nseparated from exchange membership.<\/p><\/li>\n
Shareholders may hold a maximum of 5 per cent of the total issued\nshares of the stock exchange.<\/p><\/li>\n
OJK approval is required for share ownership exceeding 5 per cent\nof the total issued shares to prevent dominance, concentration of\nownership, and\/or control by a single party, thereby ensuring the\nindependence of the exchange is preserved.<\/p><\/li>\n
No party is permitted to hold a majority stake (more than fifty\nper cent) in the stock exchange, whether directly or indirectly,\nincluding through affiliates.<\/p><\/li>\n
The Board of Directors and Board of Commissioners of the stock\nexchange must be selected and undergo a fit and proper test by\nOJK.<\/p><\/li>\n
Shareholders, directors, and commissioners of the stock exchange\nmust, in the performance of their duties and authority, comply with the\nprevailing laws and regulations in the capital market.<\/p><\/li>\n<\/ul>", "url": "https:\/\/jawawa.id\/newsitem\/ojk-officially-issues-regulation-on-stock-exchange-shareholders-1789977867", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }