Market Reform Task Force to Be Formed Soon

Financial Services Authority (OJK) announced that the formulation of the Market Integrity Reform Task Force is at the stage of drafting a joint decision across agencies. ‘We assure this is not merely a proposal, but we will ensure its fulfilment and that it aligns with the targets we have set,’ said acting Chair of the OJK Board of Commissioners Friderica Widyasari Dewi, at a press conference at the Bank Indonesia complex, on Tuesday, 3 March 2026.

Friderica said the purpose of forming the task force through a joint decision is to optimise policy, regulatory adjustments, strengthen supervision, deepen the market, coordinate across agencies and related institutions in line with the authorities of each.

She explained that market reform is a priority of the new leadership following the resignation of an OJK official in January. Friderica also pledged to present policies and steps for market reform transparently and periodically to the public.

Friderica added that OJK has held several intensive meetings with global rating agencies to ensure OJK’s actions align with foreign investor expectations. ‘We also ensure that the implementation can be carried out well and we will monitor,’ she said.

The task force will be responsible for ensuring that the eight reform action plans announced by OJK can be realised promptly according to the timeline set.

The eight action plans include: policy to raise free float from 7.5% to 15%; disclosure of Ultimate Beneficial Ownership (UBO); broaden the disclosure of investor type and share ownership from the previous 5% threshold to above 1%; then demutualisation of the Indonesia Stock Exchange; enforcement of regulations and sanctions; enhancement of governance; deeper market integration; and synergy and collaboration with all stakeholders and all players in the financial services industry.