PENGATURAN TEKNIS PEMBUKTIAN INSIDER TRADING DI INDONESIA

Abstract

Penelitian ini mempunyai tujuan untuk memberikan pemahaman mengenai pengaturan pengaturan perlindungan investor pada insider trading pada pasar modal Indonesia serta untuk memberikan pengetahuan terkait pengaturan teknis pembuktian insider trading di Indonesia. Metode yang dipergunakan pada penelitian terkait pengaturan teknis pembuktian insider trading di Indonesia ini menggunakan penelitian hukum yuridis normatif, pendekatannya yakni pendekatan perundang-undangan untuk melakukan analisis isu hukum penelitian ini. Penelitian ini pada akhirnya menghasilkan yakni jika Perlindungan investor terhadap insider trading dalam pasar modal Indonesia pada hakikatnya diatur dalam UU No. 8/1995, tercantum dalam bab XI dengan judul Penipuan, Manipulasi Pasar, dan Perdagangan Orang Dalam. Konsep serupa juga terdapat pada UU No. 40/ 2007 yang mana direksi serta komisaris wajib melaksanakan tugas serta fungsi dalam keperluan perusahaan yang memiliki kesesuaian makna serta tujuan perusahaan. Selanjutnya terkait pengaturan teknis pembuktian insider trading di Indonesia belum terdapat pengaturan secara khusus sehingga memprsulit pembuktian pada kasus insider trading di Indonesia sehingga para pelaku insider trading di Indonesia dapat dengan mudah mendapatkan putusan bebas.

This study aims to provide an understanding of the regulation of investor protection against insider trading in the Indonesian capital market and to find out the technical arrangements for proving insider trading in Indonesia. The method used in this article related to the technical arrangements for proving insider trading in Indonesia uses normative juridical legal research, with a statutory approach to analyze the legal issues of this article. The result of this study is that if the protection of investors against insider trading in the Indonesian capital market is essentially regulated in Law no. 8/1995 concerning the Capital Market, it is stated in chapter XI with the title Fraud, Market Manipulation, and Insider Trading. A similar concept is also found in Article 92 paragraph (1) and Article 108 paragraph (2) of Law no. 40/2007 concerning Limited Liability Companies in which the directors and commissioners are obliged to carry out their duties and functions in the company's needs that have a conformity with the meaning and purpose of the company. Furthermore, regarding the technical arrangements for proving insider trading in Indonesia, there are no specific arrangements that make it difficult to prove in cases of insider trading in Indonesia so that the perpetrators of insider trading in Indonesia can easily get an acquittal.