PERLINDUNGAN INVESTOR TERHADAP TINDAK PIDANA INSIDER TRADER DI TRANSAKSI PASAR MODAL

Abstract

Transactions in the capital market must take place fairly, transparently and adhere to the
principles of integrity in order to provide optimal benefits for all parties involved. This research
aims to analyze investor protection against criminal acts of insider traders who trap local
brokers in market transactions. capital. The method used is normative law (normative juridical).
The data source is statutory regulations relating to criminal law, especially regarding the
application of Insider Trading in the Capital Market. The data analysis used in this research is
qualitative analysis. The results of the research in this research are that Article 95-97 in Law
Number 8 of 1995 concerning Capital Markets in Indonesia regulates investor protection
against insider trading, which is defined in Article 95 as stock trading based on material
information that has not been announced to the public. Article 96 prohibits this practice and
applies to holders of material information with special access to that information, including
company officers and majority shareholders. Article 97 explains who is considered the holder
of material information. Articles 98-99 regulate sanctions such as large fines, prison sentences,
and a ban on participating in the capital market for insider trading, with the aim of preventing
losses for the capital market and investors. These articles also emphasize the importance of
supervision by the Financial Services Authority (OJK) in maintaining the integrity and
openness of the capital market through investigations and cooperation with other legal
agencies.
Keywords: Investor Protection, Inside Trader, Local Broker, Capital Market