Erry Prihantono, Zainal Asikin, Djumardin
Abstract:
This research was conducted to find out How the Implementation of the Default Concept According to the Jakarta Automatic Trading System (JAT) in Law Number 8 of 1995 concerning Capital Markets and How to Resolve Default Protest in the Capital Market According to Law Number 8 of 1995 concerning Capital Markets. This research is normative juridical research, the approach method used in the research is the conceptual approach (conceptual approach), statutory approach (statute approach). Legal material collection techniques are carried out by means of documentation studies, and then will be analyzed using qualitative descriptive data analysis techniques. The implementation of securities transactions is distinguished between securities transactions in the primary market and the secondary market. In the primary market, transactions are carried out directly by the issuer’s company, while in the secondary market transactions are carried out on the trading floor and are settled by institutions involved in the capital market. The legal consequences if after a transaction, one of the parties defaults and the settlement is the party that caused the loss must replace the loss in accordance with the rules of the Civil Law. Settlement of default disputes in the capital market in the perspective of Law Number 8 of 1995 concerning Capital Market, places criminal policies through criminal law against violations of capital market violations in Article 103 paragraph 2, namely violations of Article 23, Article 105, and article 109. Violations the capital market referred to in article 103 paragraph 2 are a violation of Article 32, namely “a person who conducts activities as a securities guarantor representative. Deputy securities broker or investment manager representative without obtaining BAPEPAM permission the threat to the perpetrator is a maximum of 1 (one) year imprisonment and a fine of Rp. 1000,000,000 (one billion rupiah).
Keywords: default, capital market
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