JAKARTA - In the midst of the transition of leadership of the Financial Services Authority (OJK), this institution ensures that the agenda for reforming the Indonesian capital market continues, after four OJK senior officials resigned from their positions in a row on Friday (30/1).
The Deputy Chairman and Vice Chairman of the OJK Commission Board, Friderica Widyasari Dewi, in a press conference in Jakarta, Saturday, emphasized that her agency would synergize with the government and all related stakeholders to accelerate reforms in the capital market through a more holistic approach.
This is done in response to market turmoil in recent times and has become a concern of various parties.
Friderica or commonly known as Kiki explained the holistic approach starting from improving the quality of issuers and traded shares, increasing literacy and also protecting investors, especially retail investors, as well as enforcing laws firmly and consistently.
The regulator will also continue to increase liquidity and market depth through policies to increase the minimum free float to 15 percent, optimize the role of liquidity providers, and increase the role of institutional investors, especially pension funds owned by the government through increasing the maximum investment limit in stock instruments while still paying attention to the principles of prudence, governance, and governance.
In addition, the activities of commercial banks will also be expanded in the capital market through Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK Law), increasing shareholder transparency through the obligation of ultimate beneficial ownership (UBO) transparency and affiliated party disclosure, as well as strengthening due diligence and know your customer (KYC) by securities companies.
Not only that, OJK is committed to strengthening supervision and law enforcement by immediately starting an investigation of "fried-fried" stocks or massive market manipulation, setting the direction for handling major cases through law enforcement that has a deterrent effect, and strengthening market conduct supervision including for financial influencers.
Furthermore, strengthening governance and reducing conflicts of interest, including through the demutualization of exchanges that change the institutional structure and expand ownership, followed by reform of the process and governance structure of self-regulatory organizations (SRO), namely the Indonesia Stock Exchange (IDX), the Indonesian Securities Clearing (KPEI), and the Indonesian Central Securities Depository (KSEI).
Meanwhile, on Saturday (31/1) afternoon to evening, the OJK Commissioner Board Members held a Commissioner Board Meeting which agreed to appoint Friderica Widyasari Dewi as Acting (Pjs.) Chairman and Deputy Chairman of the OJK Commissioner Board and Hasan Fawzi as Pjs. Head of Capital Market, Derivatives Finance and OJK Carbon Exchange.
Both Friderica or Kiki and Hasan also remain in charge of their fields as before, namely the Chief Executive of the Supervisory Behavior of Financial Service Providers, Education and Consumer Protection, and the Chief Executive of the Supervisory Innovation of Financial Sector Technology, Digital Financial Assets and Crypto Assets.
"So there is no vacancy. We ensure that all policies, work programs, and OJK tasks are carried out as well as they should be, and we continue to prioritize the best for the advancement of stability in the financial services sector," said Kiki, quoted from ANTARA, Saturday, January 31.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
