PERLINDUNGAN HUKUM TERHADAP INVESTOR DALAM TRANSAKSI PASAR MODAL AKIBAT PRAKTIK PENIPUAN
Kata Kunci:
Pasar Modal, Investor, Perlindungan Hukum, Penipuan, Otoritas Jasa KeuanganAbstrak
Penelitian ini bertujuan untuk mengkaji bentuk-bentuk praktik penipuan dalam transaksi pasar modal serta menganalisis perlindungan hukum yang diberikan kepada investor di Indonesia. Penelitian menggunakan metode hukum normatif dengan pendekatan perundang-undangan dan konseptual, berfokus pada Undang-Undang Nomor 8 Tahun 1995 tentang Pasar Modal serta peraturan Otoritas Jasa Keuangan. Hasil penelitian menunjukkan bahwa praktik penipuan di pasar modal meliputi manipulasi pasar, penyebaran informasi palsu, penipuan dalam penawaran umum, insider trading, serta skema Ponzi. Perlindungan hukum terhadap investor diberikan melalui pengaturan kewajiban transparansi dan keterbukaan informasi oleh emiten, pengawasan dan sanksi administratif maupun pidana oleh OJK, serta mekanisme penyelesaian sengketa melalui jalur litigasi dan non-litigasi. Perlindungan ini bertujuan untuk menjaga integritas pasar modal, meningkatkan kepercayaan investor, serta mencegah kerugian akibat praktik penipuan.
The research investigates the legal protection mechanisms available to investors in the Indonesian capital market in response to fraudulent practices that undermine market integrity and investor trust. Employing a normative juridical research method with a statutory and conceptual approach, the study analyzes relevant legislation, particularly Law Number 8 of 1995 on Capital Markets, as well as Financial Services Authority regulations. The findings reveal that fraudulent activities in capital market transactions commonly take the form of market manipulation, dissemination of false or misleading information, fraudulent public offerings, insider trading, and Ponzi schemes. Legal protection for investors is provided through preventive and repressive measures, including transparency obligations for issuers, administrative and criminal sanctions, as well as dispute resolution mechanisms under the supervision of the Financial Services Authority. The study concludes that a robust legal framework and consistent regulatory enforcement are essential to safeguarding investors’ rights and maintaining public confidence in the capital market.
