Legal Arrangements and Weaknesses Encountered

Oct 13, 2025 by magicalceylontours.com 96 views

Legal Protection for Capital Market Investors Regarding the Loss of Assets of Securities Company Customers in the Indonesian Capital Market (Study at PT Sarijaya Permana Sekuritas)

Introduction

The Indonesian capital market has been regulated by Law Number 8 of 1995 concerning the Capital Market, which is a crucial milestone in ensuring law enforcement in all activities in the capital market. However, in practice, the problem of legal protection for investors still often occurs. The case of PT Sarijaya Permana Sekuritas (SPS) is a concrete example of the issue. Commissioner of the company, Herman Ramli, is suspected of abuse of customer accounts, which resulted in a significant loss of customer assets and financial losses. This article aims to discuss the legal protection for capital market investors related to the loss of asset customer securities in the Indonesian capital market, with a case study of PT Sarijaya Permana Sekuritas.

Legal Arrangements and Weaknesses Encountered

The Capital Market Law provides broad power to Bapepam-LK as a permit supervisor and regulator, as well as giving the authority to investigate the alleged criminal acts in the capital market. Although there are regulations, there are still a number of weaknesses, especially in terms of protection against investors whose assets are lost due to crime. In the case of PT SPS, it appears that although there is a legal framework, many aspects of investor protection are still not specifically regulated. The lack of clear regulations and guidelines has led to a lack of confidence among investors in the Indonesian capital market.

One of the things to note is the transition of the capital market supervision function from Bapepam-LK to the Financial Services Authority (OJK). With this transition, OJK has taken significant steps to increase legal protection for investors. One of these efforts is the formation of financiers' protection funds (DPP), which serves to provide guarantees to investors in the event of abuse or crime by securities companies. The establishment of DPP is a significant step towards providing protection to investors in the Indonesian capital market.

Protection Efforts through DPP and SIPF

Financing Funds (DPP) managed by the OJK, and implemented by the PT Indonesian Securities Investor Protection Program (SIPF), is a concrete step to provide protection to investors whose assets are lost. The DPP functions as a guarantee for investors to reduce the risk of loss of funds due to maladministration or criminal actions from securities companies. The DPP provides a safety net for investors in the event of losses due to crime or maladministration.

The DPP includes a number of clear provisions regarding claim procedures and types of losses that can be covered. Nevertheless, investors are also advised to understand the conditions and conditions that apply so that they can take the right steps if they experience losses. Investor education regarding risks in the capital market is also very important, so they can better manage risk. Investor education is crucial in preventing losses due to crime or maladministration.

The Role of OJK in Investor Protection

The OJK has taken significant steps to increase legal protection for investors. One of these efforts is the formation of DPP, which serves to provide guarantees to investors in the event of abuse or crime by securities companies. The OJK has demonstrated its commitment to providing protection to investors in the Indonesian capital market.

The OJK has also implemented various measures to improve investor protection, including the establishment of a complaint handling system and the provision of information to investors regarding their rights and obligations. The OJK's efforts have contributed to a more transparent and accountable capital market ecosystem.

Conclusion

Overall, although Law Number 8 of 1995 concerning the Capital Market provides a legal framework, protection for investors still has a gap that needs to be improved. The case of PT Sarijaya Permana Sekuritas shows that there is an urgent need to strengthen legal protection and settlement mechanism for customers. With the existence of the DPP and the improvement of OJK functions, it is expected that the protection of investors can be more optimal, so that public trust in the Indonesian capital market can grow and develop. The protection of investors is crucial in maintaining the integrity and stability of the capital market.

For this reason, both investors and related authorities need to work together in creating a safer and more transparent capital market ecosystem, as well as guaranteeing the rights of investors to remain protected. Collaboration and cooperation are essential in ensuring the protection of investors in the Indonesian capital market.

Recommendations

Based on the findings of this study, the following recommendations are made:

Strengthening of legal protection: The government should strengthen the legal protection for investors by providing clear and specific regulations and guidelines.
Improvement of OJK functions: The OJK should continue to improve its functions and services to provide better protection to investors.
Investor education: Investors should be educated regarding the risks in the capital market and the importance of protecting their assets.
Collaboration and cooperation: Investors and related authorities should work together to create a safer and more transparent capital market ecosystem.

By implementing these recommendations, it is expected that the protection of investors in the Indonesian capital market can be improved, and public trust in the capital market can grow and develop. The protection of investors is essential in maintaining the integrity and stability of the capital market.
Frequently Asked Questions (FAQs) about Legal Protection for Capital Market Investors in the Indonesian Capital Market

Q: What is the role of the Financial Services Authority (OJK) in protecting investors in the Indonesian capital market?

A: The OJK is responsible for regulating and supervising the capital market in Indonesia, including protecting investors from abuse or crime by securities companies. The OJK has implemented various measures to improve investor protection, including the establishment of a complaint handling system and the provision of information to investors regarding their rights and obligations.

Q: What is the Financing Funds (DPP) and how does it protect investors?

A: The DPP is a guarantee fund established by the OJK to provide protection to investors in the event of abuse or crime by securities companies. The DPP functions as a safety net for investors, reducing the risk of loss of funds due to maladministration or criminal actions from securities companies.

Q: How can investors protect themselves from losses due to crime or maladministration by securities companies?

A: Investors can protect themselves by understanding the risks in the capital market and taking steps to manage those risks. This includes educating themselves about the securities companies they invest in, monitoring their investments regularly, and reporting any suspicious activities to the OJK.

Q: What are the consequences for securities companies that engage in abuse or crime against investors?

A: Securities companies that engage in abuse or crime against investors can face severe consequences, including fines, penalties, and even revocation of their licenses to operate. The OJK has the authority to investigate and take action against securities companies that engage in such activities.

Q: How can investors file a complaint against a securities company?

A: Investors can file a complaint against a securities company by contacting the OJK's complaint handling system. The OJK will investigate the complaint and take action if necessary.

Q: What is the role of the Indonesian Securities Investor Protection Program (SIPF) in protecting investors?

A: The SIPF is a program established by the OJK to provide protection to investors in the event of abuse or crime by securities companies. The SIPF works closely with the DPP to provide a comprehensive protection system for investors.

Q: How can investors access information about their rights and obligations as investors in the Indonesian capital market?

A: Investors can access information about their rights and obligations by contacting the OJK or visiting the OJK's website. The OJK provides a range of information and resources to help investors understand their rights and obligations.

Q: What is the importance of investor education in protecting investors in the Indonesian capital market?

A: Investor education is crucial in protecting investors in the Indonesian capital market. By educating themselves about the risks in the capital market and taking steps to manage those risks, investors can reduce their risk of loss and protect their assets.

Q: How can investors stay informed about changes in the Indonesian capital market and regulatory requirements?

A: Investors can stay informed by contacting the OJK or visiting the OJK's website. The OJK provides regular updates and information about changes in the capital market and regulatory requirements.

Q: What is the role of the government in protecting investors in the Indonesian capital market?

A: The government plays a crucial role in protecting investors in the Indonesian capital market by establishing and enforcing laws and regulations that protect investors. The government also provides funding and resources to support the OJK's efforts to protect investors.

Q: How can investors report suspicious activities or crimes committed by securities companies?

A: Investors can report suspicious activities or crimes committed by securities companies by contacting the OJK's complaint handling system. The OJK will investigate the report and take action if necessary.

Q: What is the importance of collaboration and cooperation between investors and regulatory bodies in protecting investors in the Indonesian capital market?

A: Collaboration and cooperation between investors and regulatory bodies are essential in protecting investors in the Indonesian capital market. By working together, investors and regulatory bodies can identify and address potential risks and threats to investor protection.