Indonesia’s financial regulator is speeding up reforms to capital market integrity after index provider MSCI flagged problems in the country’s market, an OJK official said. Agus Firmansyah, head of capital market regulation at the Otoritas Jasa Keuangan (OJK), said the MSCI announcement only accelerated agendas the regulator had already planned for 2026 and 2027.
Reform roadmap and index pressure
MSCI temporarily froze the addition of new Indonesian shares to its index in January 2026. Firmansyah said the regulator was trying to accelerate everything at once.
In April, OJK, the Indonesia Stock Exchange (BEI) and the Indonesian Central Securities Depository (KSEI) completed four transparency agenda items. MSCI then announced on 16 October that it would consult on reclassifying Indonesia from an emerging market to a standalone market.
Sanctions and trading limits
OJK announced sanctions on three issuers on Friday, 16 October: PT Dian Swastatika Sentosa Tbk (DSSA), PT Barito Renewables Energy Tbk (BREN) and PT Petrindo Jaya Kreasi Tbk (CUAN). Firmansyah said the sanctions were not a reaction to the MSCI announcement, because the examination and investigation had been running for a long time.
On Monday, 19 October, the BEI lowered the lower auto rejection limit to a maximum of 7 percent for shares priced above Rp 10. The change applies from 19 October to 31 December 2026.
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Source: OJK
