Jakarta – Indonesia Stock Exchange (IDX) is committed to maintaining the integrity and credibility of the Indonesia capital market through the supervision of listed companies’ compliance with listing regulations. IDX consistently monitors the fulfillment of these obligations and will impose sanctions in accordance with Exchange Regulation No. I-H in the event of any violations, to ensure an orderly, fair, and efficient market.
Throughout 2025, IDX imposed a total of 3,040 sanctions on 453 listed companies. Below is a summary of sanctions imposed by IDX during the 2024–2025 period:
|
Type of Obligation |
Number of Sanctions | Total Listed Companies | ||||
| 2024 | 2025 | Change | 2024 | 2025 | Change | |
| Financial Report | 1.203 | 1.223 | 2% | 246 | 196 | -20% |
| Monthly Report on Share Ownership Registration Activities | 642 | 577 | -10% | 188 | 134 | -29% |
| Request for Explanation | 390 | 454 | 16% | 188 | 214 | 14% |
| Free Float | 449 | 386 | -14% | 110 | 83 | -25% |
| Public Expose | 238 | 211 | -11% | 165 | 160 | -3% |
| Others | 142 | 189 | 33% | 135 | 126 | -7% |
The majority of sanctions were imposed due to delays of submission of the Financial Report and the Monthly Report on Share Ownership Registration Activities. A decrease was recorded in the number of sanctions related to free float compliance, the Monthly Report on Share Ownership Registration Activities, and information disclosure concerning the annual public expose. Obligations categorized under “Others” include, among others, the payment of the Annual Listing Fee (ALF), report on the readiness of funds for the settlement of securities, report of exploration activity, as well as misstatements in the Financial Report or other informastion disclosures.
Furthermore, in January 2026, IDX imposed 294 sanctions on 142 listed companies. A total of 57% of these sanctions were related to non-compliance with Financial Report submission and public expose obligations, among others due to:
- Written Warning III and Suspension on delay of submission of the Interim Financial Report per 30 September 2025.
- Written Warning II and Fines imposed on listed companies that had not conducted their annual Public Expose by the deadline of 31 December 2025.
IDX does not solely emphasize disciplinary enforcement through the imposition of sanctions, but also provides active and continuous guidance to listed companies to enhance their quality. Throughout 2025, IDX organized various guidance activities, which included:
- Monthly socialization sessions on Capital Market Regulations, the use of the SPE-IDXNet Electronic Reporting System, and the submission of Financial Statements in XBRL format.;
- Socialization on compliance with free float requirements for newly listed companies as well as listed companies that have not yet fulfilled the free float requirement.
- Socialization on Compliance Refreshment for listed company with inadequate compliance levels;
- Various one-on-one meetings, seminars, and workshops aimed at enhancing the capacity of listed companies, as well as roadshow activities to increase their exposure and broaden the investor base.
IDX regularly publishes updated monthly data and information on the imposition of sanctions through its official website at https://www.idx.co.id/en/listed-companies/sanction/. This information is expected to serve as a reference for investors in making investment decisions and to encourage improvements in the quality of listed companies through investor stewardship.
Going forward, IDX will continue to enhance the discipline of listed companies through ongoing guidance, monitoring of compliance with obligations, the imposition of sanctions for violations, and various other initiatives. These efforts aim to support the development of a credible and competitive capital market.
