Articles

Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia: English

English

Dhoni Martien
Postgraduate, Universities Jayabaya, Jakarta, Indonesia
Yudi Novriandi
Postgraduate, Universitas Jayabaya, Jakarta, Indonesia
Online First: October 26, 2019
| Google Scholar
[1]
D. Martien and Y. Novriandi, “Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia”, sshj, vol. 3, no. 10, pp. 1579-1591, Oct. 2019.

Abstract

The purpose of writing to be achieved through this research are as follows: 1) Knowing the settlement of disputes related to civil violations in the capital market and the application of sanctions in Law Number 8 of 1995 on Capital Markets and OJK Regulation Number 1/POJK.07/2014 on Alternative Institutions for Dispute Resolution in the Financial Services Sector; 2) Knowing the most effective dispute resolution to deal with civil violations in the capital market. The methods for this research uses a normative juridical approach method, namely by examining and reviewing secondary data in the form of positive law related to the subject matter under study. The results of this study relate to dispute resolution related to civil violations in the capital market and the application of sanctions in the Capital Market Law and POJK No. 1/POJK.07/2014, namely the authority to carry out examinations, and investigations of parties deemed to have committed violations in the Capital Market field have become OJK's authority since enactment. Regarding which dispute resolution is the most effective way to deal with civil violations in the capital market, many capital markets cases have arisen such as lost stock cases, short selling cases, false report cases, IPO cases and right issues, and insider trading. These cases are detrimental to the interests of investors who should be protected. Dispute resolution outside the court or through non-litigation was chosen because it was considered that the judicial process in Indonesia was considered inefficient and ineffective. Dispute resolution mechanisms through the judiciary body have many shortcomings, namely foreign partners have not given confidence in the effectiveness of the law in Indonesia, the judicial process takes a long time, complicated, requires high costs, the decision is win-lose, can damage the good relations of the parties, the results of the ruling are challenging to execute, tend to favour the prominent businessmen, the fertility of the judicial mafia, open opportunities to submit legal remedies for judges' decisions, through appeals, cassation and civil review, and others. Along with the rapid development of the capital market in Indonesia, a variety of alternatives have emerged in terms of how to resolve disputes in the capital market in Indonesia. The capital market has unique and dynamic mechanisms and characters in terms of dispute resolution and problems that occur in transactions in the capital market so that special handling is needed quickly and efficiently. The procedure for resolving disputes outside the court is felt to be the most suitable for the needs of capital market players

References

As’adi, Edi (2012). Hukum Acara Perdata dalam Perspektif Mediasi (ADR) di Indonesia, Yogyakarta: Graha Ilmu.
Huala Adolf (1993). Arbitrase Komersial Internasional, Rajawali Pers, Jakarta.
Iswi Hariyanti (2010). Prosedur Mengurus HAKI yang Benar, Cetakan ke-1, Yogyakarta: Penerbit Pustaka Yustisia.
Lastuti Abubakar (2009). Transaksi Derivatif di Indonesia, Bandung: Book Terrace & Library.
M. Irsan Nasarudin, et al. (2011). Aspek Hukum Pasar Modal Indonesia, Edisi Pertama, Cetakan ke-7, Jakarta: Kencana.
Munir Fuady (2001). Pasar Modal Modern (Tinjauan Hukum) Buku Kesatu, Bandung: PT. Citra Aditya Bakti.
Nugroho, Susanti Adi (2009). Mediasi Sebagai Alternatif Pentelesaian Sengketa, Jakarta: Telaga Ilmu Indonesia.
Rachmadi Usman (2013). Pilihan Penyelesaian Sengketa Di Luar Pengadilan, Bandung: PT. Citra Aditya Bakti.
Subekti (2010). Hukum Perjanjian, Jakarta: Internusa.
Sumartono, Gatot (2006). Arbitrase & Mediasi Di Indonesia, Jakarta: PT Graha Media Pustaka Utama.
Susanti Adi Nugroho (2009). Mediasi Sebagai Alternatif, Jakarta: Fikahati Aresta.
Legislation
Undang-Undang Dasar Negara Republik Indonesia Tahun 1945, Amandemen Ke-IV.
Kitab Undang-Undang Hukum Perdata, Jakarta: PT. Pradnya Paramita, 2008.
Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal (Lembaran Negara Republik Indonesia Tahun 1995 Nomor 64, Tambahan Lembaran Negara Republik Indonesia Nomor 3608).
Undang-Undang Nomor 30 Tahun 1999 tentang Arbitrase dan Alternatif Penyelesaian Sengketa (Lembaran Negara Republik Indonesia Tahun 1999 Nomor 138, Tambahan Lembaran Negara Republik Indonesia Nomor 3872).
Undang-Undang Nomor 25 tahun 2004 tentang Sistem Perencanaan Pembangunan Nasional (Lembaran Negara Republik Indonesia Tahun 2004 Nomor 104).
Undang-Undang Nomor 48 Tahun 2009 tentang Kekuasaan Kehakiman (Lembaran Negara Republik Indonesia Tahun 2009 Nomor 157, Tambahan Lembaran Negara Republik Indonesia Nomor 5076).
Undang-Undang Nomor 21 tahun 2011 tentang Otoritas Jasa Keuangan (Lembaran Negara Republik Indonesia Tahun 2011 Nomor 111, Tambahan Lembaran Negara Republik Indonesia Nomor 5253).
Peraturan Presiden Nomor 7 tahun 2005 Tentang Rencana Pembangunan Jangka Menengah Nasional (Lembaran Negara Republik Indonesia Tahun 2005 Nomor 11).
Peraturan Mahkamah Agung Nomor 2 Tahun 2003 tentang Prosedur Mediasi di Pengadilan.
Peraturan Otoritas Jasa Keuangan Nomor 1/POJK.07/2014 tentang Lembaga Alternatif Penyelesaian Sengketa di Sektor Jasa Keuangan (Lembaran Negara Republik Indonesia Tahun 2014 Nomor 12, Tambahan Lembaran Negara Republik Indonesia Nomor 5499).
Published October 26, 2019
Keywords
  • Civil Violations, Capital Market, Dispute Resolution, Financial Services Authority
How to Cite
[1]
D. Martien and Y. Novriandi, “Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia”, sshj, vol. 3, no. 10, pp. 1579-1591, Oct. 2019.

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References

As’adi, Edi (2012). Hukum Acara Perdata dalam Perspektif Mediasi (ADR) di Indonesia, Yogyakarta: Graha Ilmu.
Huala Adolf (1993). Arbitrase Komersial Internasional, Rajawali Pers, Jakarta.
Iswi Hariyanti (2010). Prosedur Mengurus HAKI yang Benar, Cetakan ke-1, Yogyakarta: Penerbit Pustaka Yustisia.
Lastuti Abubakar (2009). Transaksi Derivatif di Indonesia, Bandung: Book Terrace & Library.
M. Irsan Nasarudin, et al. (2011). Aspek Hukum Pasar Modal Indonesia, Edisi Pertama, Cetakan ke-7, Jakarta: Kencana.
Munir Fuady (2001). Pasar Modal Modern (Tinjauan Hukum) Buku Kesatu, Bandung: PT. Citra Aditya Bakti.
Nugroho, Susanti Adi (2009). Mediasi Sebagai Alternatif Pentelesaian Sengketa, Jakarta: Telaga Ilmu Indonesia.
Rachmadi Usman (2013). Pilihan Penyelesaian Sengketa Di Luar Pengadilan, Bandung: PT. Citra Aditya Bakti.
Subekti (2010). Hukum Perjanjian, Jakarta: Internusa.
Sumartono, Gatot (2006). Arbitrase & Mediasi Di Indonesia, Jakarta: PT Graha Media Pustaka Utama.
Susanti Adi Nugroho (2009). Mediasi Sebagai Alternatif, Jakarta: Fikahati Aresta.
Legislation
Undang-Undang Dasar Negara Republik Indonesia Tahun 1945, Amandemen Ke-IV.
Kitab Undang-Undang Hukum Perdata, Jakarta: PT. Pradnya Paramita, 2008.
Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal (Lembaran Negara Republik Indonesia Tahun 1995 Nomor 64, Tambahan Lembaran Negara Republik Indonesia Nomor 3608).
Undang-Undang Nomor 30 Tahun 1999 tentang Arbitrase dan Alternatif Penyelesaian Sengketa (Lembaran Negara Republik Indonesia Tahun 1999 Nomor 138, Tambahan Lembaran Negara Republik Indonesia Nomor 3872).
Undang-Undang Nomor 25 tahun 2004 tentang Sistem Perencanaan Pembangunan Nasional (Lembaran Negara Republik Indonesia Tahun 2004 Nomor 104).
Undang-Undang Nomor 48 Tahun 2009 tentang Kekuasaan Kehakiman (Lembaran Negara Republik Indonesia Tahun 2009 Nomor 157, Tambahan Lembaran Negara Republik Indonesia Nomor 5076).
Undang-Undang Nomor 21 tahun 2011 tentang Otoritas Jasa Keuangan (Lembaran Negara Republik Indonesia Tahun 2011 Nomor 111, Tambahan Lembaran Negara Republik Indonesia Nomor 5253).
Peraturan Presiden Nomor 7 tahun 2005 Tentang Rencana Pembangunan Jangka Menengah Nasional (Lembaran Negara Republik Indonesia Tahun 2005 Nomor 11).
Peraturan Mahkamah Agung Nomor 2 Tahun 2003 tentang Prosedur Mediasi di Pengadilan.
Peraturan Otoritas Jasa Keuangan Nomor 1/POJK.07/2014 tentang Lembaga Alternatif Penyelesaian Sengketa di Sektor Jasa Keuangan (Lembaran Negara Republik Indonesia Tahun 2014 Nomor 12, Tambahan Lembaran Negara Republik Indonesia Nomor 5499).
Published October 26, 2019
Keywords
  • Civil Violations, Capital Market, Dispute Resolution, Financial Services Authority
How to Cite
[1]
D. Martien and Y. Novriandi, “Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia”, sshj, vol. 3, no. 10, pp. 1579-1591, Oct. 2019.
No Supplimentary Material available for this article.
Published October 26, 2019
Keywords
  • Civil Violations, Capital Market, Dispute Resolution, Financial Services Authority
How to Cite
[1]
D. Martien and Y. Novriandi, “Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia”, sshj, vol. 3, no. 10, pp. 1579-1591, Oct. 2019.

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Published October 26, 2019
Keywords
  • Civil Violations, Capital Market, Dispute Resolution, Financial Services Authority
How to Cite
[1]
D. Martien and Y. Novriandi, “Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia”, sshj, vol. 3, no. 10, pp. 1579-1591, Oct. 2019.

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  • Dhoni Martien
  • Yudi Novriandi

  • Published October 26, 2019
    Keywords
    • Civil Violations, Capital Market, Dispute Resolution, Financial Services Authority
    How to Cite
    [1]
    D. Martien and Y. Novriandi, “Civil Violation in the Capital Market Field and Its Completion Based On Law of the Republic Of Indonesia”, sshj, vol. 3, no. 10, pp. 1579-1591, Oct. 2019.