LEGAL RESPONSIBILITY OF OJK EMPLOYEES FOR INCORRECT FACTS IN THE ISSUER'S FINANCIAL REPORTS DURING THE ISSUER 'S EFFECTIVE STATEMENT OF THE INITIAL PUBLIC OFFERING (IPO)

Abstract

Study This study accountability law employee Financial Services 
Authority (OJK) on negligence or negligence in carry out inspection 
document candidate company listed ( issuer ) which provides 
material facts do not Actually in report finance For get statement 
effective in the Initial Public Offering (IPO) process. The study was 
conducted through perspective accountability absolute (strict 
liability) and delict omission No pure to immunity implied functional 
in Article 80 paragraph (1) of the Law Number 8 of 1995 concerning 
Capital Markets. The research method used is juridical normative 
with approach legislation and conceptual . Legal materials consists of 
on regulation legislation , doctrine , journal scientific , and decisions 
the courts analyzed in a way qualitative through interpretation 
systematic and grammatical . Research results show that OJK has 
obligation law For examine truth IPO documents as arranged in 
Article 75 of the Law Law Number 8 of 1995 concerning Capital 
Markets. The fraud was uncovered after the IPO through an 
investigation process . or investigation cause question about 
effectiveness OJK supervision at the stage inspection beginning . In 
the case of PT Multi Makmur Lemindo Tbk , accountability criminal 
only charged to board of directors issuers and employees of the Indonesian Stock Exchange , while OJK employees do not can asked 
accountability law Because protected by immunity functional . 
Condition the cause asymmetry enforcement legal and potential 
weaken investor protection . Research This recommend restrictions 
immunity OJK employees in matter there is intentional or neglect to 
action capital market crimes , as well as strengthening mechanism 
change make a loss for investors who are disadvantaged .