Indonesia's Financial Services Authority (OJK) published its March 2026 Monthly Board of Commissioners Meeting update, concluding that financial sector conditions remained stable amid heightened global uncertainty and increased market volatility. Alongside reporting sector developments, OJK reinstated a package of stock market stabilisation measures with the Indonesia Stock Exchange and highlighted the completion of four capital-market transparency reforms, including a phased increase in the minimum free float to 15%. The reinstated stabilisation measures, effective from 13 March 2026, cover share buybacks without a general meeting of shareholders, a delay to the implementation of short selling transaction financing, trading halt arrangements, and auto rejection limits. The transparency reforms include monthly publication of listed-company share ownership above 1% (published by the Indonesia Stock Exchange and the Indonesia Central Securities Depository), the launch of High Shareholding Concentration announcements as an investor early-warning mechanism, more granular investor classification in ownership data (39 categories), and amendments to Indonesia Stock Exchange Rule I-A sharpening the free-float definition and listed-company governance alongside the higher free-float minimum. Market indicators referenced include the Jakarta Composite Index closing March 2026 at 7,048.22, down 14.42% month on month and 18.49% year to date, with foreign investors recording IDR 23.34 trillion net sell in equities. OJK also reported enforcement and supervisory actions across sectors, including capital markets administrative fines of IDR 8.57 billion in March 2026 and market manipulation fines of IDR 15.9 billion, the revocation of six rural bank licences between January and March 2026, and instructions to banks to apply enhanced due diligence and or block 33,252 accounts suspected of online gambling. Looking ahead, OJK stated it is drafting rules on health ratings for non-bank financial institutions in the financing and microfinance segment, periodic reporting for guarantee institutions, and a revised insurance solvency and risk-based capital framework aligned with PSAK 117. The authority is also finalising amendments to detailed rules on digital asset and crypto-asset trading.
OJK 2026-04-06
Indonesia's Financial Services Authority reinstates equity market volatility controls and finalises transparency reforms including a 15% free float minimum
Indonesia’s Financial Services Authority (OJK) reported that financial sector conditions remained stable in March 2026 despite global uncertainty, reinstated stock market stabilisation measures with the Indonesia Stock Exchange, and completed four capital-market transparency reforms, including a phased increase in the minimum free float to 15%. OJK detailed enforcement actions and signalled forthcoming rules on health ratings for non-bank financial institutions, periodic reporting for guarantee institutions, a revised insurance solvency and risk-based capital framework aligned with PSAK 117, and amendments to rules on digital asset and crypto-asset trading.