Kerta Dyatmika
Vol 22 No 1 (2024): Kerta Dyatmika

KEBIJAKAN PEMBUKTIAN INSIDER TRADING PADA PASAR MODAL DI INDONESIA

I GUSTI LANANG AGUNG ARYA WIBAWA (Unknown)



Article Info

Publish Date
05 Feb 2024

Abstract

Insider Trading adalah suatu kejahatan di Pasar Modal yang sangat sulit untuk dibuktikan. Berdasarkan latar belakang masalah yang dibahas, adapun rumusan masalah dalam penelitian ini, adalah yang pertama Bagaimana kebijakan dalam pembuktian insider trading pada pasar modal di Indonesia? Dan hambatan apa saja yang ada dalam pembuktian insider trading pada pasar modal di Indonesia? Di keluarkannya Undang-undang Nomor 8 Tahun 1995 tentang Pasar Modal, merupakan bukti nyata dukungan pemerintah untuk memajukan Pasar Modal di Indonesia, di samping untuk memberikan transparansi, perlindungan terhadap investor untuk memportofoliokan dananya di Pasar Modal. Larangan insider trading mulai diatur dengan hadirnya Keputusan Menteri Keuangan Nomor 1548/KMK/013/1990 tentang Pasar Modal sebagaimana yang telah di ubah dalam Keputusan Menteri Keuangan Nomor 284/KMK.010/1995, yang kemudian diperkuat dengan berlakunya UUPM. Dalam UUPM mengkategorikan tindak pidana menjadi dua, yaitu kejahatan dan pelanggaran.Penegakan hukum insider trading mencakup tiga hal, yaitu penegakan secara administratif, perdata, dan pidana. Cara membuktikan adanya insider trading dalam pasar modal dapat dilakukan dengan 2 cara yaitu pertama, dengan cara mendeteksi ada atau tidaknya orang dalam yang melakukan transaksi atas efek Perusahaan. Kedua, memeriksa para pihak yang dideteksi telah melakukan insider trading. Kesulitan dalam pembuktiaan Insider Trading disebabkan oleh faktor-faktor sebagai berikut: Modus operandi dari white collar crime jauh lebih kompleks, Pelaku white collar crime jarang yang mempunyai Riwayat, Kerugian dari white collar crime di pengadilan umumnya. Insider Trading is an act committed by parties classified as "insiders" using company information that has not been published. Some types of insider trading are Prime r Insider, Secondary Insider, Tipper, and Tippee. Insider Trading is a crime in the Capital Market that is very difficult to prove. Based on the background of the problems discussed, the formulation of the problems in this study, are the first How is the policy in proving insider trading in the capital market in Indonesia? And what obstacles are there in proving insider trading in the capital market in Indonesia?The issuance of Law Number 8 of 1995 concerning the Capital Market is clear evidence of government support to advance the Capital Market in Indonesia, in addition to providing transparency, protection for investors to invest their funds in the Capital Market. The prohibition of insider trading began to be regulated with the presence of the Decree of the Minister of Finance Number 1548/KMK/013/1990 concerning the Capital Market as amended by the Decree of the Minister of Finance Number 284/KMK.010/1995, which was then strengthened by the enactment of the UUPM. The UUPM categorizes criminal acts into two, namely crimes and violations.Law enforcement of insider trading includes three things, namely administrative, civil, and criminal enforcement. How to prove the existence of insider trading in the capital market can be done in 2 ways, namely first, by detecting whether or not there are insiders who make transactions on the Company's securities. Second, examining the parties who are detected to have committed insider trading. The difficulty in proving insider trading is caused by the following factors: The modus operandi of white collar crime is much more complex, The perpetrators of white collar crime rarely have a history, The disadvantages of white collar crime in court are generally.

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Journal Info

Abbrev

kertadyatmika

Publisher

Subject

Law, Crime, Criminology & Criminal Justice

Description

KERTA DYATMIKA is a Journal of Legal Studies published by the Faculty of Law of the University of Dwijendra which publishes research results and conceptual ideas in the field of law that are packaged normatively or empirically related to government policy, jurisprudence or actual legal issues in the ...