The Financial Services Authority (OJK) has officially approved the revision of Indonesia Stock Exchange (BEI) Regulation No. 1-A, which includes an increase in the free float requirement to 15%. The regulation is scheduled to take effect at the end of March 2026.

OJK’s Chief Executive for Capital Market, Derivatives, and Carbon Exchange Supervision, Hasan Fawzi, stated that the approval has been granted to the exchange with several notes for adjustments. He also emphasized that the fulfillment of the 15% threshold will be implemented gradually.

“Today we have delivered our approval to the exchange with several adjustment notes. The exchange’s task now is to finalize the draft of Regulation 1-A, which is targeted to come into effect before the end of March as planned,” Hasan said when met at the Supreme Court building on Wednesday (March 25, 2026).

In addition to regulating free float, the revision of Regulation 1-A also tightens corporate governance standards for listed companies. These include mandatory training for company executives, from commissioners to directors, as well as certification requirements for public accountants auditing issuers’ financial statements.

OJK is also collaborating with Self-Regulatory Organizations (SROs) to establish a joint working group involving both sell-side and buy-side market participants. This team is responsible for conducting periodic evaluations and analyzing the market’s absorption capacity before issuers reach the deadline for meeting the free float requirement.

Furthermore, the exchange has prepared an exit policy, including delisting for companies that fail to meet the requirement within the specified timeframe. This serves as part of enforcing compliance with listing regulations.

Meanwhile, for companies planning to conduct an initial public offering (IPO), Hasan emphasized that the 15% free float requirement will be applied immediately once the regulation officially takes effect.