Legal Enforcement Model in Indonesia Capital Market Disputes to Make Substantive Justice

Abstract

Law enforcement in the capital market sector becomes a serious issue, because the varies pattern of capital market business practices is very difficult to identify and qualify which includes a crime and which are not criminal acts. This paper aims to find the ideal law enforcement model in capital market disputes. This thesis is conducted by the juridis normative method by basing approach to the legislation in force. The research results show that there are several factors that can cause capital market legal enforcement is not optimal, they are, legal enforcement factor, regulation factor, and legal cultural factor. To further optimize there needs to be a change of paradigm in legal enforcement that is, progressive legal enforcement, with the strengthening of watchdog institutions such as Market watchdog conducted by financial services authority, and the establishment of a special institution for settlement of capital market disputes.

Law Enforcement of the Financial Services Authority against Customer Rights on Fraudulent Promissory Notes Issued by Non-Bank Financial Institutions

“…The welfare state is a concept of government when the state takes an important role in protecting and prioritizing the economic and social welfare of its citizens. The formulation of the welfare state is not only a concept of nation and state, but is a legal ideal (rechtside) and a state ideal (staatsidee) (Sudiyana, 2019;Della, 2019).…”