4 Capital Market Reform Agendas Completed, OJK and BEI to Meet MSCI
JAKARTA - The Financial Services Authority (OJK) has completed four main reform agendas for Indonesia’s capital market. Following this completion, OJK along with the Indonesia Stock Exchange (BEI) is preparing to continue meetings with global index providers, including MSCI.
The Executive Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory of OJK, Hasan Fawzi, stated that they will proactively conduct further engagement with global index providers while gathering input from investors.
“And we will also proactively seek input and views from investors regarding the level of transparency we have implemented,” he said on Thursday (2/4/2026).
“There is even a possibility that we will specifically visit them, perhaps a meeting with the regional team or via video call beforehand,” he added.
As of early April 2026, OJK together with the Indonesia Stock Exchange (BEI) and the Indonesian Central Securities Depository (KSEI) has completed four proposals for reforms to strengthen transparency in the capital market.
The first is the enhancement of disclosure requirements for institutional investors regarding their ownership intentions, which has been implemented effective from 1 April 2026 using data as of 31 March 2026.
The second is the improvement of investor data quality through greater granularity in investor classification. Currently, there are 39 investor categories compared to only nine previously.
This granularity was implemented on 1 April 2026 with data as of 31 March 2026. It is expected to enhance transparency on the characteristics and intention of ownership of investors.
The third is the increase in the minimum free float limit from 7.5% to 15%. This provision has been incorporated into the revision of Exchange Regulation No. I-A, effective from 31 March 2026.
The fourth is the announcement of high shareholding concentration (HSC) stocks, which was released on 2 April 2026 on the official BEI website using data as of 31 March 2026.