Indonesia's Financial Services Authority (OJK) announced measures to strengthen transparency, governance and integrity in Indonesia’s capital market, aligned with requirements raised by Morgan Stanley Capital International (MSCI) and developed with capital market self-regulatory organisations. The Indonesia Stock Exchange has published more comprehensive share-ownership data on its website since early January 2026, including disclosure of holdings above and below 5 percent by investor category. OJK also committed to meet MSCI’s additional request for information on ownership stakes below 5 percent, including investor categories and ownership structure, and will ask self-regulatory organisations to provide MSCI with ultimate beneficial owner data for listed issuers. Separately, the self-regulatory organisations will issue rules introducing a minimum free float of 15 percent, with OJK strengthening oversight of implementation and setting an exit policy for issuers or public companies that cannot meet the requirement within the specified timeframe. OJK also flagged ongoing market monitoring and, with the Indonesia Stock Exchange, readiness to optimise tools such as share buybacks without a shareholders meeting, trading halts and adjustments to the lower auto-rejection limit, while leaving open further refinements depending on MSCI’s response.
OJK 2026-01-29
Indonesia's Financial Services Authority moves to broaden share-ownership disclosures and introduce a 15 percent free-float minimum to meet MSCI requirements
Indonesia's Financial Services Authority (OJK) announced measures to enhance transparency, governance, and integrity in the capital market, aligning with Morgan Stanley Capital International (MSCI) requirements. Key actions include comprehensive share-ownership data disclosure, a minimum free float rule, and strengthened oversight, with ongoing market monitoring and potential refinements based on MSCI feedback.