Rahman, Yogi Muhammad
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Legal Protection for Investors against Fraud by Market Manipulation in the Indonesian Capital Market Rahman, Yogi Muhammad; Lalu Saipudin; AH. Asari Taufiqurrohman; Anik Kunantiyorini; Taufiq
Jurnal IUS Kajian Hukum dan Keadilan Vol. 12 No. 3 (2024): Jurnal IUS Kajian Hukum dan Keadilan
Publisher : Magister of Law, Faculty of Law, University of Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/ius.v12i3.1416

Abstract

Fraudulent acts through market manipulation in the capital market can lead to investors receiving false information in their investment decisions, resulting in unprotected investor funds and unsustainable capital market industry operations. This article employs a normative legal method. Market price manipulation in the capital market falls under the category of fraud in the capital market as it is done with the intention of self-gain and deception, creating a semblance not based on actual material facts to influence others to buy, sell, or hold securities. Protection for investors can be achieved through two approaches: preventive measures by mandating all issuers to adhere to the principle of full disclosure supervised by the Financial Services Authority, and criminal measures where perpetrators of fraud in the capital market can face sanctions of up to 10 years imprisonment or fines of Rp 15 billion following Article 104 of the Capital Market Law. However, existing regulations are still insufficient in protecting the legal interests of investors from fraudulent activities in the capital market due to several factors including the ineffectiveness of the Capital Market Law, weak law enforcement, lack of legal protection mechanisms for investors who suffer losses due to market manipulation, and sanctions deemed ineffective.
Perspective of State Sovereignty in Law Enforcement Related to Cyberlaw Jurisdiction Irawan, Benny; Mulyanti, Dewi; Budiaman, Hendi; Rahman, Yogi Muhammad; Taufiqurrohman, Asari
LAW REFORM Vol 21, No 1 (2025)
Publisher : PROGRAM STUDI MAGISTER ILMU HUKUM FAKULTAS HUKUM UNIVERSITAS DIPONEGORO SEMARANG

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/lr.v21i1.68760

Abstract

Digital development brings both positive and negative impacts. One of the negative consequences of this transformation is the increasing prevalence of criminal activities in the digital realm. This study aims to examine criminal regulatory policies related to cybercrime in Indonesia, particularly those that pose a threat to national sovereignty. The research method employed is normative juridical, using secondary data sources.The findings indicate that criminal law, as a branch of legal science, bears the responsibility of adapting to societal changes—especially in safeguarding citizens, as this is closely linked to state sovereignty. Cybercrime has emerged as a widely discussed issue in both academic and non-academic contexts. These crimes disrupt the security of individuals and threaten national sovereignty, as seen in incidents such as the hijacking of Indonesian citizens’ personal data.The study concludes that more technical regulations are required for addressing cybercrimes committed beyond the territory of the Unitary State of the Republic of Indonesia. One proposed solution is the adoption of a “police-to-police” cooperation framework. This approach is expected to serve as an alternative for the government to respond more effectively to such issues, thereby facilitating the development of laws that are both efficient and effective
Legal Reform for Investor Protection in Indonesian Crypto Markets: A Comparative Analysis With The MiCA Framework Rahman, Yogi Muhammad; Jastisia, Mentari; Barora, Siti; Mega Jaya, Belardo Prasetya; Anditya, Ariesta Wibisono
Jurnal Wawasan Yuridika Vol 8 No 2 (2024): 2024
Publisher : Sekolah Tinggi Hukum Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.25072/jwy.v8i2.4433

Abstract

This article examines the urgency of legal reform to enhance investor protection in Indonesia’s crypto asset market, emphasizing the regulatory uncertainty that obscures legal liability in cases of system failure, unilateral platform closure, or investor losses. This research adopts descriptive research specifications, using normative juridical research, using two methods of statutory and comparative approaches. Data collection is done through literature review and then analyzed through qualitative method. The findings reveal that Indonesia’s legal system still relies heavily on individual civil claims based on Article 1365 of the Civil Code, without anticipatory legal instruments. Drawing from MiCA’s best practices, this article highlights the need for prescriptive, risk-based, and investor-oriented legal principles to build a fair and legally certain digital ecosystem.