OJK Supports Demutualisation of BEI with These Conditions

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) supports the direction of demutualising the Indonesia Stock Exchange (BEI) as part of strengthening governance. OJK Commissioner Chair Friderica Widyasari Dewi stated that, in addition to improving the professionalism of capital market management, BEI’s demutualisation can also mitigate the current dynamics in the capital market industry.

“On principle, OJK supports the direction of demutualising the Stock Exchange as part of strengthening governance, enhancing professionalism, expanding access to capital, and reducing potential conflicts of interest between Exchange members as owners and simultaneously as supervised parties,” she said during a meeting with Commission XI at the DPR RI building in Jakarta on Monday (6/4/2026).

However, the woman familiarly known as Kiki stated that this change needs to be carefully formulated to maintain BEI’s professionalism, prevent control by certain parties, and ensure professional, transparent, effective, efficient, and fair governance.

This change relates to several articles, namely Article 8 and Article 8A of the Capital Markets Law, as well as the addition of Article 8B regarding state ownership of Stock Exchange shares.

She explained that OJK’s position in supporting demutualisation emphasises that any changes to the ownership structure must still safeguard market integrity and not reduce OJK’s professionalism as the regulatory and supervisory authority.

“We understand that the opportunity to amend something through an omnibus law is not easy and requires support from many parties,” she said.

Kiki emphasised that OJK proposes several other provisions that need to be substantive. First, adjustments are needed to no longer include provisions on the timing of collection and payment of levies.

Next, regarding the definition of financial services institutions, between that defined in Chapter 1 General Provisions of the P2SK Law and the definition in the OJK Law.

Finally, changes to Article 87 of the Capital Markets Law to regulate the amount of ownership that must be reported to OJK.