<![CDATA[This study examines legal protection for retail investors in the practice of Initial Public Offering (IPO) in Indonesia, which is grounded in the principle of disclosure in capital market law. The issues addressed include the regulation of issuers’ disclosure obligations and the forms of legal protection against potential misleading information. This research employs a normative juridical method using statutory and conceptual approaches, through an analysis of Law Number 8 of 1995 concerning Capital Markets and regulations issued by the Otoritas Jasa Keuangan. The findings indicate that disclosure obligations are systematically regulated through mechanisms such as registration statements, prospectuses, and periodic reporting. Legal protection for retail investors is provided through the prohibition of misleading information, legal liability of market participants, and the imposition of administrative sanctions. These findings demonstrate that the capital market legal system has established both preventive and repressive protection mechanisms against misleading information. The conclusion affirms that the regulation of disclosure obligations and investor protection has been comprehensively structured within the Indonesian capital market legal framework.]]>
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