As an intermediary institution, the banking industry plays a critical function in the economy. Unpredictable conditions such as disease pandemic, exemplified from the unprecedented COVID-19 outbreak, result in loss to the banking industry due to the weakening of the national economy. In the future, then, the banking industry requires early preventive action for a similar case through specific risk mitigation towards disease pandemic. This paper aims to discuss the urgency of the risk mitigation towards the pandemic in the banking industry, following the risk mitigation scheme in facing the pandemic with its relevant regulation. This paper shows that the pandemic's responsive risk mitigation has become essential to strengthen the banking’s intermediary function and performance during the pandemic. The existing risk mitigation regulation solely relates to the non-performing loan in normal conditions. In the meantime, disease pandemic like COVID-19 is excluded because it is beyond the normal situation. Its adverse impact has leveraged more significant extent due to emergency conditions. In case of a disease pandemic, the bank can soon take early preventive action before the pandemic strikes within the domestic territory without waiting for central government-specific regulation, but it should. However, it remains practiced under the relevant laws. KEYWORDS: Risk Mitigation, Disease Pandemic, COVID-19, Banking Industry, Indonesia.

Introduction toThe Problem: Financial Services Authority introduced the disgorgement within the field of Indonesian Capital Market by the establishment of OJK Regulation Draft concerning Disgorgement and Disgorgement Fund in the Capital Market in 2019. Disgorgement itself is a very new concept in Indonesia. It is meant to be a remedial action. Furthermore, it is expected to prevent the Party for the enjoyment of illegal profit, compensate for the victim's loss, and to contain the corrective element. It also acts as a deterrence effect. Purpose/Objective Study: This study aims to study on how the disgorgement as remedial action would be applied and create a deterrence effect in the Indonesian Capital Market Regime. Design/Methodology/Approach: This is normative legal research that uses a qualitative research method. This study conducted a literature review and comparative study with disgorgement regulation within in respect of securities law in common law and civil law jurisdiction. Findings: In the upcoming disgorgement technical manner, OJK will give a written order for the Party who violate capital market regulation and pursuing illegally obtained profit or illegally avoided loss to return sum amount of money sum up with interest (if any). To uphold this scheme, Indonesia needs to develop a theoretical framework such as actio de in rem verso or unjust enrichment. Furthermore, to create a deterrence effect, Indonesia shall provide adequate, proportionate, and dissuasive sanctions.

On November 2, 2020, the Indonesian Government enacted Law No. 11 the Year 2020 on the Job Creation Law. This Job Creation Law amend article 47 of Law No. 5 the Year 1999 on the Anti-Monopoly and Unfair Competition concerning administrative sanction to the violator of the unfair competition law, which among others is fine. On February 2, 2021, the Government issued Government Regulation No. 44 the Year 2021 on the Execution of Anti-Monopoly and Unfair Competition. One of the ideas for the order of the fine is by using an "illegal profit" scheme. Some countries like China, Turkey, Croatia, and Spain are also familiar with an almost-nearly relevant "disgorgement." This study aims to discuss disgorgement regulation in the competition law in Indonesia and some other countries. This research is normative and comparative. The data in this research is secondary data consisting of primary, secondary, and tertiary legal sources. The data collection method was carried out through a document study. All qualitative data were analysed descriptively to conclude deductively. This study concludes that disgorgement in several countries has a different concept. Disgorgement is the imposition of sanctions to return several benefits obtained from violating a legal rule -in the context of this research is the Law of anti-unfair business competition. In Indonesia, the concept of disgorgement has been applicable in the new imposition of the administrative-fine method under Government Regulation No. 44 the Year 2021 concerning the Execution of Anti-Monopoly and Unfair Competition. Disgorgement is a new concept known in Indonesia that aims more at recovery than creating a deterrent effect.

Equity crowdfunding (ECF), also known as crowd-investing or investment crowdfunding, is a way of boosting capital used by start-ups and early-stage companies. Fundamentally, ECF offers the company’s securities to potential investors in exchange for their investment. As a result, each investor is authorized to a share in the company proportionate to their financing. This paper discusses the ECF industry regulations in Malaysia and Indonesia in terms of its prospects and challenges during the COVID-19 pandemic through doctrinal research using the conventional legal method. Critical and analytical approaches were used to achieve its objectives. The findings showed that ECF has seen a growth of over 170% in new accounts registered in Malaysia, with 65% of them being retail investors. There is a great demand from individual and retail investors who are looking to invest in various investment products and services made accessible to them. The Capital Markets and Services Act 2007 plays an important role to provide good governance of ECF business in Malaysia. Further, the Guidelines on Recognized Markets (GRM 2020) (Item 1.01 GRM) and section 15 (g) of the Securities Commission Act 1993 clarifies the function of the Securities Commission to regulate ECF activities and protect the interests of the parties involved, especially investors. In Indonesia, the main regulator of ECF is the Financial Services Authority and the new ECF law is the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning Securities Crowdfunding. The regulation aims to extend the scope of the crowdfunding which includes debt-based securities and sukuk. The prospects of ECF business in both countries are great especially in the era of the pandemic because the fintech, which has led to new investment products and services, is a vital force that helps democratize investments and will continue to increase as investors become more educated and informed. In terms of the ECF law, comparatively, it is different in terms of the governance, process and procedure, types of investors, etc. which are applicable in both Malaysia and Indonesia.

Child as the smalles member in family is the main vulnarable actor. Internationally speaking, the protection of children's rights is granted under the Convention on the Rights of the Children. One of the most crucial children righs to be concerned is the right to education in a non-discriminatory manner. The Covid-19 Pandemic led to the closure of schools to enforce physical distancing measure, and this condition impact the refugee children learners as well. The study aims to examine legal protections of the right to education for the refugee childrenin international perspective and in Indonesia. This research usesa normative legal research using three approaches: statutory approaches, conceptual approaches, and comparative approaches. The result of this study was: the protection of the right to education towards the refugee children shall be remained a concern in international society. Education shall be applicable in a non-discriminatory manner, including to the refugee children. During this Covid-19 Pandemic, International organization as well as the States government shall ensure that the community as well as the refugee within certain state jurisdiction, remain informed about the educational opportunities, school reopening and the pandemic. Secondly, Indonesia has no specific regulations about the implementation to the fulfillment of right to education towards refugee children. Whereas, Indonesia is responsible to provide non-discriminatory education to the children refugge. Thus, Indonesian government shall also put concern to the access to education especially during this Covid-19 Pandemic towards the refugee children.