Rizqi Fadhlillah, Muhammad
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PROBLEMATIKA PENEGAKAN INSIDER TRADING DALAM PRAKTIK PASAR MODAL DI INDONESIA Aji Pangestu, Ilham; Thorik, Achmad; Yulviani, Dian; Rizqi Fadhlillah, Muhammad
SUPREMASI HUKUM Vol. 20 No. 02 (2024): Supremasi Hukum
Publisher : Fakultas Hukum Universitas Islam Syekh Yusuf

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Abstract

This research aims to identify and analyze the problems of insider trading in capital market practices in Indonesia. This research is normative legal research. Legal materials consist of primary and secondary legal materials obtained through literature study. The approach used includes a statutory regulatory approach. Based on the results of the discussion, it is known that first, Law Number 8 of 1995 concerning Capital Markets (UUPM) still has several weaknesses. Article 95 does not explain who is meant as an employee of the issuer. Apart from that, UUPM has a legal loophole to reach insider trading which is based on misuse of information to carry out transactions. UUPM only regulates insider trading that occurs as a result of violations of obligations. Second, the law enforcement process for insider trading violators in Indonesia is still considered very weak. Third, POJK Disgorgement is one of the government's efforts to deal with insider trading. These efforts include examination, investigation, evidence, dispute resolution, and imposition of sanctions. Researchers provide suggestions including, first, strengthening the role of OJK in terms of supervision. Second, the formation of a special unit consisting of several institutions to handle and resolve insider trading practices so that they are effective and efficient. Third, increasing understanding and education related to POJK Disgorgement in the community. Keywords: Problems; Insider Trading; Capital Market    
Reforming the Prohibition of Concurrent Office-Holding by Deputy Ministers in Indonesia's State Ministry Law: Mereformasi Larangan Merangkakkan Jabatan oleh Wakil Menteri dalam Undang-Undang Kementerian Negara di Indonesia Rizqi Fadhlillah, Muhammad; Yusuf, Yusmedi; Aji Pangestu, Ilham
Mendapo: Journal of Administrative Law Vol. 7 No. 2 (2026): (2026)
Publisher : Fakultas Hukum Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/mendapo.v7i2.55201

Abstract

This study examines the legal lacuna concerning the prohibition of concurrent office-holding by Deputy Ministers under the State Ministry Law and the urgency of reconstructing its regulatory framework to ensure legal certainty. The issue has become increasingly significant following Constitutional Court Decision Number 128/PUU-XXIII/2025, which affirmed that the prohibition on concurrent office-holding applicable to Ministers also extends to Deputy Ministers. Nevertheless, this prohibition has not yet been explicitly incorporated into statutory regulations, thereby creating legal uncertainty in governmental practice. This research employs a normative legal method using statutory, case, and conceptual approaches. The primary legal materials consist of the Constitution of the Republic of Indonesia of 1945, the State Ministry Law, Constitutional Court decisions, and relevant legal literature. The findings reveal that the absence of an explicit legal norm governing the prohibition of concurrent office-holding by Deputy Ministers may give rise to conflicts of interest, weaken accountability principles, and reduce the effectiveness of public administration. The novelty of this study lies in its proposal for a legal reconstruction of the State Ministry Law through the insertion of an explicit provision prohibiting concurrent office-holding by Deputy Ministers as a legislative follow-up to the Constitutional Court's decision. Such reconstruction is necessary to strengthen legal certainty, prevent abuses of power, and provide a firmer legal basis for the imposition of sanctions against Deputy Ministers who violate the prohibition.