PERLINDUNGAN HUKUM BAGI MAHASISWA SEBAGAI INVESTOR PEMULA DI PASAR MODAL

Abstrak

Perkembangan teknologi digital telah meningkatkan partisipasi masyarakat dalam investasi di pasar modal, termasuk mahasiswa sebagai investor pemula. Meskipun memberikan kemudahan akses investasi, mahasiswa masih rentan terhadap berbagai risiko, seperti manipulasi pasar, insider trading, penyebaran informasi yang menyesatkan, dan investasi ilegal akibat keterbatasan pengalaman serta literasi keuangan. Penelitian ini bertujuan untuk menganalisis bentuk perlindungan hukum bagi mahasiswa sebagai investor pemula di pasar modal Indonesia serta upaya hukum yang dapat ditempuh apabila mengalami kerugian akibat pelanggaran di pasar modal. Metode penelitian yang digunakan adalah penelitian hukum normatif dengan pendekatan perundang-undangan (statute approach) dan pendekatan konseptual (conceptual approach). Hasil penelitian menunjukkan bahwa perlindungan hukum bagi mahasiswa diberikan melalui pengawasan Otoritas Jasa Keuangan (OJK), penerapan prinsip keterbukaan informasi, perlindungan terhadap praktik manipulasi pasar dan insider trading, perlindungan konsumen sektor jasa keuangan, serta mekanisme pengaduan dan penyelesaian sengketa. Adapun upaya hukum yang dapat ditempuh meliputi pengaduan kepada OJK, gugatan perdata, pelaporan tindak pidana pasar modal, pemanfaatan Disgorgement Fund, serta penyelesaian sengketa melalui mediasi, konsiliasi, dan arbitrase. Dengan demikian, sistem hukum pasar modal Indonesia telah menyediakan perlindungan hukum bagi mahasiswa sebagai investor pemula.

Advances in digital technology have increased public participation in capital market investments, including among college students as novice investors. Although this provides easier access to investment opportunities, college students remain vulnerable to various risks—such as market manipulation, insider trading, the dissemination of misleading information, and illegal investments—due to their limited experience and financial literacy. This study aims to analyze the forms of legal protection available to college students as novice investors in the Indonesian capital market, as well as the legal remedies that can be pursued in the event of losses resulting from violations in the capital market. The research method employed is normative legal research using a statutory approach and a conceptual approach. The results of the study indicate that legal protection for students is provided through supervision by the Financial Services Authority (OJK), the application of the principle of information transparency, protection against market manipulation and insider trading, consumer protection in the financial services sector, as well as complaint and dispute resolution mechanisms. The legal remedies available include filing complaints with the OJK, filing civil lawsuits, reporting capital market crimes, utilizing the Disgorgement Fund, and resolving disputes through mediation, conciliation, and arbitration. Thus, Indonesia’s capital market legal system has provided legal protection for students as novice investors.