Sumber : Kompas.com | 5 Januari 2026<\/p>\n\n\n\n
Otoritas Jasa Keuangan (OJK) mencatat potensi pertumbuhan pasar modal Indonesia masih sangat besar, namun membutuhkan perbaikan ekosistem secara berkelanjutan.<\/p>\n\n\n\n
Ketua Dewan Komisioner OJK, Mahendra Siregar, mengatakan salah satu fondasi utama yang diperkuat adalah integritas pasar untuk mewujudkan pasar yang berfungsi dengan baik dan efisien (a well-functioning and efficient capital market).<\/p>\n\n\n\n
Memasuki 2026, OJK bersama seluruh pemangku kepentingan, termasuk Self Regulatory Organization (SRO), berkomitmen mengimplementasikan berbagai program strategis yang difokuskan pada peningkatan integritas dan pendalaman pasar.<\/p>\n\n\n\n
Program pertama, peningkatan kualitas perusahaan tercatat melalui penyempurnaan kebijakan secara menyeluruh, mulai persyaratan pencatatan (entry requirement), peningkatan free float atau saham beredar termasuk skema continuous free float, peningkatan transparansi ultimate beneficial owner atau kepemilikan manfaat akhir atas perusahaan, hingga penyusunan exit policy yang jelas.<\/p>\n\n\n\n
Transparansi ultimate beneficial owner dinilai penting untuk meminimalkan transaksi tidak wajar dan meningkatkan likuiditas riil di pasar, sekaligus menjawab keraguan investor dan lembaga internasional, termasuk Morgan Stanley Capital International (MSCI) yang bahkan sempat mengusulkan metode perhitungan free float khusus untuk Indonesia.<\/p>\n\n\n\n
\u201cPeningkatan transparansi ultimate beneficial owner untuk perusahaan tercatat diperlukan untuk meminimalisasi transaksi efek yang tidak wajar dan meningkatkan likuiditas real di pasar, sekaligus menjawab keraguan investor dan lembaga internasional, seperti sekalipun MSCI yang sampai perlu mengeluarkan proposal metode perhitungan free float khusus untuk Indonesia,\u201d ujar Mahendra saat pembukaan perdagangan bursa efek di gedung BEI, Jumat (2\/1\/2026).<\/p>\n\n\n\n
Program kedua, peningkatan basis investor baik domestik maupun asing melalui peran investor institusional, terutama reksa dana, asuransi, dan dana pensiun.<\/p>\n\n\n\n
\u201cKami memandang program penguatan kapasitas, tata kelola dan manajemen risiko asuransi dan dana pensiun hampir selesai, sehingga saat ini mereka telah mampu kembali meningkatkan investasinya di pasar modal sesuai risk appetite dan praktik manajemen risiko yang baik,\u201d paparnya.<\/p>\n\n\n\n
Selain itu, OJK terus mendorong peningkatan perlindungan investor minoritas dan ritel melalui penegakan aspek pengawasan (market conduct), termasuk penguatan pengawasan terhadap perilaku financial influencer (finfluencer).<\/p>\n\n\n\n
Program ketiga, mencakup adopsi dan pelaksanaan reformasi tata kelola pasar saham terkini, dengan belajar dari praktik negara-negara lain yang dinilai berhasil menciptakan growth story pasar saham.<\/p>\n\n\n\n
Reformasi tersebut mencakup penguatan transparansi, kualitas keterbukaan informasi (disclosure), serta disiplin pengelolaan perusahaan agar meningkatkan kepercayaan investor dan mendorong pertumbuhan pasar.<\/p>\n\n\n\n
Terakhir, OJK juga menaruh perhatian besar pada penguatan manajemen risiko dan tata kelola teknologi informasi di pasar modal.\n\nDi samping itu, OJK telah menjatuhkan berbagai sanksi di sektor pasar modal, termasuk denda kepada 121 pihak, pencabutan izin terhadap enam pihak, serta peringatan dan perintah tertulis kepada 638 pelaku usaha.<\/p>","protected":false},"excerpt":{"rendered":"
Source: Kompas.com | January 5, 2026 The Financial Services Authority (OJK) noted that the growth potential of the Indonesian capital market remains enormous, but requires continuous ecosystem improvements. The Chairman of the OJK Board of Commissioners, Mahendra Siregar, stated that one of the main foundations being strengthened is market integrity to create a well-functioning and efficient capital market. Entering 2026, the OJK, together with all stakeholders, including Self-Regulatory Organizations (SROs), is committed to implementing various strategic programs focused on improving market integrity and deepening. The first program is improving the quality of listed companies through comprehensive policy improvements, from listing requirements (entry requirements), increasing free float (shares outstanding), including a continuous free float scheme, increasing transparency regarding ultimate beneficial ownership (ultimate beneficial ownership), and developing a clear exit policy. Ultimate beneficial owner transparency is considered crucial for minimizing irregular transactions and increasing real liquidity in the market, while also addressing concerns raised by investors and international institutions, including Morgan Stanley Capital International (MSCI), which even proposed a specific free float calculation method for Indonesia. “Increasing transparency regarding ultimate beneficial owners for listed companies is necessary to minimize irregular securities transactions and increase real liquidity in the market, while also addressing concerns raised by investors and international institutions, such as MSCI, which even issued a proposal for a specific free float calculation method for Indonesia,” Mahendra said at the opening of stock exchange trading at the IDX building on Friday (January 2, 2026). The second program involves increasing the investor base, both domestic and foreign, through the role of institutional investors, particularly mutual funds, insurance companies, and pension funds. “We view the program to strengthen the capacity, governance, and risk management of insurance companies and pension funds as nearly complete, so they are now able to increase their investments in the capital market in line with their risk appetite and good risk management practices,” he explained. In addition, the Financial Services Authority (OJK) continues to encourage increased protection for minority and retail investors through the enforcement of market conduct, including strengthening oversight of the behavior of financial influencers (finfluencers). The third program includes the adoption and implementation of the latest stock market governance reforms, learning from the practices of other countries deemed successful in creating stock market growth stories. These reforms include strengthening transparency, the quality of information disclosure, and disciplined corporate management to increase investor confidence and encourage market growth. Finally, the Financial Services Authority (OJK) is also placing significant emphasis on strengthening risk management and information technology governance in the capital market. In addition, the OJK has imposed various sanctions in the capital market sector, including fines on 121 parties, license revocations on six parties, and warnings and written orders on 638 business actors.<\/p>","protected":false},"author":9,"featured_media":7173,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[278,277,275,276],"class_list":["post-7172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcements","tag-free-float","tag-investor-millennial","tag-ojk","tag-otoritas-jasa-keuangan"],"_links":{"self":[{"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/posts\/7172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/comments?post=7172"}],"version-history":[{"count":1,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/posts\/7172\/revisions"}],"predecessor-version":[{"id":7174,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/posts\/7172\/revisions\/7174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/media\/7173"}],"wp:attachment":[{"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/media?parent=7172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/categories?post=7172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bakrie-brothers.com\/id\/wp-json\/wp\/v2\/tags?post=7172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}