OJK Completes 4 Capital Market Transparency Reforms, Ready to Submit to MSCI and FTSE

JAKARTA, KOMPAS.com - The Financial Services Authority (OJK) has completed four reform proposals for the Indonesia Stock Exchange (BEI) submitted to global index providers, including Morgan Stanley Capital International (MSCI). All initiatives were finalised by March 2026.

The Executive Head of Capital Market, Derivatives Finance, and Carbon Exchange Supervision at OJK, Hasan Fawzi, stated that the completion involved Self-Regulatory Organisations (SROs), namely BEI and the Indonesian Central Securities Depository (KSEI).

“OJK, together with the SROs—in this case, the Indonesia Stock Exchange and KSEI—has guided and implemented initiatives or solutions for the four focus areas. And praise be to God, we can report that as of March, in line with our planned targets, all these initiatives have been completed and finalised,” Hasan said during a press conference in Jakarta on Thursday (2/4/2026).

The details encompass the disclosure of share ownership data above 1 per cent, announcements of high shareholding concentration (HSC), strengthening investor classification into 39 categories in KSEI data, and raising the minimum free float limit to 15 per cent through amendments to BEI Regulation Number I-A.

The regulator has also enhanced transparency by providing beneficial ownership data for shareholders with at least 10 per cent ownership.

“Next, we will continue constructive communication and engagement with Global Index Providers, as well as gather feedback from investors,” he explained.

Hasan assessed that these policies align with global practices. Some aspects are considered more advanced, particularly the disclosure of share ownership data above 1 per cent.

This step is expected to improve liquidity and the quality of share price formation. Its impact is also directed towards maintaining investor confidence and increasing the attractiveness of Indonesia’s capital market.

Acting President Director of BEI, Jeffrey Hendrik, stated that these policies follow global standards.

“While maintaining the 5 per cent ownership threshold in line with global standards, this policy is expected to enhance liquidity and investment attractiveness in Indonesia’s capital market, both for domestic and global investors,” Jeffrey said.