OJK, IDX, and KSEI Accelerate Capital-Market Integrity Reform

RRI.CO.ID, Jakarta - The Financial Services Authority (OJK) together with Indonesia Stock Exchange (IDX) and Indonesia Central Securities Depository (KSEI) continue to accelerate structural reforms to enhance the integrity, transparency, and competitiveness of Indonesia's capital market. This strategic step is also taken as a follow-up to various inputs provided by MSCI Inc.

Acting Head of the Executive of the Capital Market, Derivative Financial Products, and Carbon Exchange Supervisory Agency of OJK, Hasan Fawzi, said in a press conference held at the Indonesia Stock Exchange in Jakarta on Monday, 9 February 2026, that this reform action plan is a comprehensive, sustainable, verifiable, and measurable reform package.

"With this approach, the OJK wants to ensure that the acceleration of capital market integrity reforms is not just a short-term response, but becomes an agenda for strengthening the structural foundation of a solid, trustworthy, and globally competitive Indonesian capital market," Hasan stated.

Hasan Fawzi emphasized that the reform measures are being implemented in a measured and integrated manner as part of the 8 Action Plans for Accelerating the Integrity Reform of Indonesia's Capital Market.

"Following the meeting with MSCI, we have formed a special team from OJK, IDX, and KSEI that works intensively to accelerate concrete steps, starting from increasing ownership transparency, adjusting the free float policy, to providing more granular investor data," Hasan Fawzi conveyed.

KSEI has conducted a socialization for Exchange Members and Custodian Banks on February 3, 2026, to support the provision of more detailed and granular investor data. During the socialization, guidelines for data entry and templates were provided for a total of 35,022 Single Investor Identifications (SID) that need to be reclassified, with a target data collection in March 2026.

Meanwhile, the OJK has conveyed the direction of the free float policy to the IDX, which was then followed up with the rule-making process to adjust IDX Regulation Number I-A concerning the Listing of Shares and Equity Securities Other than Shares Issued by Listed Companies. In the process, the IDX has held a public hearing with several associations within the Indonesian capital market.

IDX Director, Jeffrey Hendrik stated that IDX is fully committed to supporting the national capital market reform agenda through strengthening regulations and trading infrastructure.

"IDX, together with OJK and KSEI, continues to maintain constructive communication with MSCI and other Global Index Providers. This is done to fully address the various concerns of Global Index Providers, particularly regarding the transparency of free float information and share ownership structure," Jeffrey said.

To support the 8 OJK Action Plans in Accelerating the Reform of Indonesia's Capital Market Integrity, KSEI has implemented and will implement 25 Work Plans. Regarding the new free float policy action plan, KSEI is currently assessing the potential increase in rights issues conducted by issuers to raise the free float.