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False Transaction vs Wash Trading: Addressing the Gap to Rebuild Market Confidence (Legal Implication in Indonesia and United States Capital Market Law) Sugianto, Fajar; Tokuyama, Shintaro
Journal of Law and Legal Reform Vol. 5 No. 1 (2024): Contemporary Global Issues on Law Reform, Legal Certainty, and Justice
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jllr.vol5i1.2094

Abstract

This paper is evidently about the legal comparison between Indonesia and the U.S on their views on market manipulation. There are several similarities between the Capital Market Law and SEA 1934, not only in terms but also in the elements. Articles 91 and 92 of Capital Market Law seem to mimic Section 9(a) (1) and (2) of SEA 1934. As both statues states similar prohibition in creating a misleading trading appearance and the purpose of inducing sales. This means that elements and tests applicable in the U.S. should also be applicable in Indonesia. Section 10(b) of SEA 1934 and SEC Rule 10b-5 serves to further supplement the application of Section 9 with its broad anti-manipulation provisions. Articles 91 and 92 of Capital Market Law cover the sales and purchase of stocks affected by the alleged manipulation that occurs only in the securities exchange as evident by the wording “on a/the Securities Exchange”. This is also observed in Section 9(a) (1) and (2) of SEA 1934 wherein the scope is limited to transactions in the “national securities exchange”. What this implies is that over-the-counter and block sales transactions are not protected under the statutes mentioned above. This issue is not addressed under the Capital Market Law, however Section 10(b) of SEA 1934 and its implementing regulation SEC Rule 10b-5 addresses this issue. Section 10(b) of SEA 1934 allows for broader authority of law enforcement as it includes “any security registered on a national securities exchange or any security not so registered”. This implies protection for a wider scope of securities transactions.
The Legal Status of Testaments That Eliminate the Inheritance Rights for the Longest-Living Marital Spouse Indradewi, Astrid Athina; Achmad, Andyna Susiawati; Sugianto, Fajar
Jurnal Ius Constituendum Vol. 9 No. 2 (2024): JUNE
Publisher : Magister Hukum Universitas Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26623/jic.v9i2.8881

Abstract

The purpose of this study is to examine the legal standing of testaments that forgo a spouse's right to inherit in the event of their death. This study is necessary because, while everyone has the right to draft a testament according to their desires, this does not absolve the contents of the testament from being based on applicable laws and regulations. This study was carried out utilizing a doctrinal and statutory method in a normative juridical manner. The study concludes that a testator's intentions are free to be included in a will; nonetheless, the Indonesian Civil Code governs the legitimacy of Legitieme Portie. Thus, if a testament is written by a spouse whose marriage has entered into a marital agreement to separate assets, and its contents eliminate the longest-living spouse's inheritance rights, then that will not violate the rights of the longest-living spouse because it is based on Article 914 of the Indonesian Civil Code that the husband or wife does not have Legitime Portie. In the meantime, a testament written by a spouse whose marriage did not result in a marital agreement that separates assets only applies to the portion of the maker's assets; in other words, the longest-living spouse still receives a share as part of the joint assets in marriage. 
Membangun Kepercayaan Digital melalui Penegakan Hukum Pelindungan Data Pribadi Priyadi, Andi; Trisno, Anton; Banjarnahor, Holmes; Sugianto, Fajar
Syntax Literate Jurnal Ilmiah Indonesia
Publisher : Syntax Corporation

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36418/syntax-literate.v10i5.59613

Abstract

Perkembangan teknologi informasi dan komunikasi telah membawa perubahan signifikan terhadap lanskap sosial, ekonomi, dan hukum di Indonesia. Kemajuan digital tersebut membuka akses luas terhadap data pribadi, namun juga memperbesar potensi penyalahgunaannya. Sebagai respons terhadap dinamika tersebut, Indonesia mengesahkan Undang-Undang Nomor 27 Tahun 2022 tentang Pelindungan Data Pribadi (UU PDP). Jurnal ini membahas latar belakang, substansi hukum, asas, hak dan kewajiban, sanksi, serta tantangan implementasi UU PDP. Dengan pendekatan yuridis normatif, jurnal ini bertujuan mengkaji efektivitas UU PDP sebagai instrumen pelindung hak privasi warga negara sekaligus mendorong tata kelola data yang bertanggung jawab dalam era digital. Keberhasilan implementasi UU PDP tidak hanya bergantung pada kepatuhan entitas pemroses data, tetapi juga pada efektivitas lembaga pengawas independen yang diamanatkan untuk dibentuk, peningkatan literasi digital dan kesadaran akan hak-hak data pribadi di kalangan masyarakat luas, serta sinergi antar pemangku kepentingan. Jurnal ini berargumen bahwa meskipun UU PDP menyediakan fondasi hukum yang solid, jalan menuju pelindungan data pribadi yang efektif di Indonesia akan diwarnai oleh kompleksitas teknis, sosio-kultural, dan institusional yang memerlukan strategi implementasi yang cermat dan berkelanjutan.
The Extended Nature of Trading Norms Between Cryptocurrency and Crypto-asset: Evidence from Indonesia and Japan Sugianto, Fajar; Tokuyama, Shintaro
Lex Scientia Law Review Vol. 8 No. 1 (2024): Contemporary Legal Challenges and Solutions in a Global Context
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/lslr.v8i1.14063

Abstract

This article is evidently about the comparison between Indonesia and Japan and their views on Crypto as a commodity. It starts with a brief elaboration on the legal standing of cryptocurrency in Indonesia and Japan. In Indonesia, Cryptocurrency is legal only as a commodity as the Ministry of Trade Regulation No. 99 of 2018 formally authorized crypto asset trading and decreed it lawful. The Indonesian Commodity Futures Trading Supervisory Authority, or BAPPEBTI, published Regulation No. 5 of 2019 to provide a thorough regulatory framework for the crypto-assets future. In Japan, there is no omnibus law regulating blockchain based coins and the legal status of tokens are determined under the uses and functions. News outlets report that there may be in talks of a law of the possibility of the seizure of crypto that has been stolen or has been illegally acquired by organized crime due to the law of the type of assets that can be seized are physical property, monetary claims, and movable assets such as machinery, vehicles, tools, and supplies, with crypto falling under none of those categories. The conclusions are, first, Indonesia has vastly improved its Cryptocurrency regulations with BAPPEBTI’s Regulation No. 8 of 2021. with the implementation of (a) licensing requirements; (b) rights and obligations; and (c) the responsibilities of key players involved in the physical crypto-asset market, such as futures exchanges, crypto asset traders, futures clearing agencies, and crypto-asset storage providers. Second, Indonesia’s regulations almost mirror itself with Japan’s behavior towards crypto, with differences only arising in the specific percentages of storage, equity, and infrastructure.