Four Capital Market Reforms Completed, OJK Strengthens BEI Transparency

REPUBLIKA.CO.ID, JAKARTA – The Financial Services Authority (OJK) has provided an update on the progress of several measures to accelerate reforms in the integrity of Indonesia’s capital market. OJK’s Executive Head of Capital Market, Derivatives Finance, and Carbon Exchange Supervision, Hasan Fawzi, stated that four initiatives out of a total of eight capital market reform initiatives have been completed.

“Of course, our immediate response or focus on quick and initial reactions has been refocused on four main initiatives to respond particularly to notes and requests from global index providers as well as investors,” Hasan said during a press conference at the BEI Building in Jakarta on Thursday (2/4/2026).

The four initiatives are, first, strengthening share ownership transparency. Second, improving investor data quality. Third, strengthening and promoting policies to increase the minimum free float limit, and fourth, the mechanism for high shareholding concentration.

“Praise be to God, Alhamdulillah, we can inform that as of last March, in line with the targets we set, all these initiatives have been completed and finalised,” he revealed.

Hasan detailed the first initiative, which is strengthening share ownership transparency. The latest regulation requires disclosure of share ownership above 1% for all companies listed on the Indonesia Stock Exchange (BEI).

“That authority is already in place, and we have even implemented it since the February 2026 data cut-off, which was carried out at the beginning of March 2026. And of course, in line with our commitment, every month we will carry out revisions and submissions with a cut-off of data at the end of the following month. We will consistently do this every month,” he explained.

The second initiative involves improving investor data quality related to policies expanding the granularity of capital market investor classifications. Hasan stated that the granularity and detail of investor types data is presented and carried out by KSEI with support from various stakeholders filling in the granular data or more detailed data on investor types.

“Third, strengthening the free float policy has also been completed and established in the form of the effective implementation of changes to BEI Regulation I-A related to listing regulations,” he continued.