Legal Review of Legal Protection for Capital Market Investors Against Insider Trading Practices at PT Jouska Financial Indonesia
Keywords:
Capital Market, Investor Protection, Insider TradingAbstract
The practice of insider trading in Indonesia is still considered difficult to implement due to the process of enforcing the law and implementing sanctions against perpetrators. The absence of regulations that provide legal protection for public investors1 for losses due to insider trading practices, leaving public investors often confused about what legal remedies they need to take to obtain justice for the immaterial losses they experience. This thesis research uses a sociological research method. The research problem formulation of this study is how the legal review of legal protection for capital market investors regarding insider trading practices in Indonesia and how the problems of proving insider trading and solutions for legal protection against insider trading practices to provide legal certainty for investors in Indonesia. The conclusion of this study is that the form of OJK legal protection for investors from insider trading practices in the capital market is regulated in Law Number 21 of 2011 (OJK Law) concerning the Financial Services Authority as a prevention and imposition of sanctions or action. In the preventive stage, OJK takes further steps such as granting securities permits with strict requirements, stopping the activities of parties who have the potential to harm the public, and providing consumer complaint services (Article 29 of the OJK Law). Repressive legal protection for investors from insider trading practices, meaning in the form of inspections, investigations, and the application of sanctions, namely the existence of administrative sanctions (Article 102 of the Capital Market Law), Criminal Sanctions (Articles 103-110 of the Capital Market Law), Civil compensation claims (Article 111 of the Capital Market Law). The Securities Investor Protection Fund is an institution established to protect investor assets in the capital market from losses caused by the risk of insider trading carried out by securities companies.
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