JAKARTA - The Financial Services Authority (OJK) will encourage the approval of adjustments to Regulation Number I-A before March 2026 ends, with the approval likely to be issued after the long Lebaran holiday.
Acting Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Executive of the OJK, Hasan Fawzi, said in Regulation Number I-A, one of the adjustments made was to deepen the market by drafting new policies, namely raising the minimum free float limit of issuers to 15 percent.
"For the time being, the target is still the same, we encourage it to be completed by the end of March 2026. At the latest, yes, if it is not completed before Lebaran, after Lebaran there are still working days before the end of March, yes, we will finish it Insya Allah in March this year," said Hasan after the Annual Report Award (ARA) socialization event at the Indonesia Stock Exchange (IDX) Building, Jakarta, quoted by Antara, Saturday, March 14.
Hasan ensured that OJK together with the Self-Regulatory Organization (SRO) had intensively discussed the adjustment of Regulation Number I-A, and even a joint task force had been formed whose discussions had been ongoing for two days.
He revealed that currently the final record in the form of OJK's response regarding the adjustment of Regulation Number I-A has been submitted back to the IDX for the final stage of improvement.
"So, yesterday we were intensive with the drafting team at SRO, even doing a kind of task force together and the discussion was full of two days. The final notes are there, the response from OJK has been submitted to the Exchange for final improvements," said Hasan.
After the final stage of improvement by the IDX, he continued, the final concept of the adjustment of Regulation Number I-A will be submitted again to the OJK, for approval.
After that, if the final concept of adjusting the regulation meets all elements, then OJK is ready to issue its approval.
"Later, the final concept will be conveyed to OJK, and later when it has fulfilled all the elements, we will issue the approval," said Hasan.
Previously, the Acting Director of the Indonesian Stock Exchange (IDX) Jeffrey Hendrik ensured that the target for implementing the minimum free float provision of 15 percent remained in accordance with the timeline, namely in March 2026.
However, he reminded that there were many exchange holidays in the third week of March 2026, so that his party together with OJK would adjust the schedule related to the implementation of the minimum free float 15 percent provision.
"In the third week of March (2026) there are many holidays. Yes, of course we will adjust the schedule," said Jeffrey.
Previously, the IDX, supported by the OJK, was adjusting Regulation Number I-A concerning the Listing of Shares and Equity-Based Securities Other than Shares Issued by Listed Companies.
The adjustments to regulations that will be carried out by the IDX with the support of the OJK include:
1. Market deepening by preparing new policies that raise the minimum limit of the free float of listed companies to 15 percent. To ensure implementation runs smoothly, a transition period will be implemented to provide an adjustment opportunity for listed companies.
2. Increased implementation of corporate governance specifically through the implementation of continuous education obligations for directors, commissioners, and audit committees of listed companies.
3. The improvement of governance is also strengthened by the competence obligation in the field of accounting that must be possessed by the directors or officials one level below the directors so that the quality of the presentation and disclosure of the financial statements of the listed companies increases.
4. The improvement in the quality of prospective companies is recorded through the improvement of higher financial, operational, and governance requirements so that it will increase investor trust and confidence.
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)
