Criminal sanctions for insider trading: Comparison with Singapore

Ainul Azizah

Abstract


Insider trading is one of the crimes in the capital market that causes a lot of material loss to the victim. Such a large loss has caused fears of investors to trade on the capital market in Indonesia. For this reason, the government is trying to prevent insider trading, the government has made a Capital Market Law, but this is not enough. For this reason, policies need to be made relating to criminal sanctions for perpretators insider trading in the future. The research method used is the normative legal research method. With a conceptual approach, comparison and Law. The legal issues that will be examined are the legal and philosophical foundations of criminal sanctions for perpetrators insider trading and criminal law policies relating to criminal sanctions for perpetrators insider trading in the future? The result is a legal basis for criminal sanctions for perpetrators insider trading is to provide a deterrent effect to the perpetrators so that it does not happen again and protect the public from insider trading. Policies relating to criminal sanctions for perpetrators insider trading are the use of schikking in resolving insider trading and by using non-litigation methods.

Keyword : criminal sanctions; insider trading; comparison.

 


Full Text:

PDF

References


Peter Henry Blair, Do Stock Market Liberalizations Cause Investment Booms, Journal of Financial Economics, 23 January 2000,h. 301.

Petter Gottchalk, Financial Theory of Crime, Journal Financial of the Crime, 2010, Vol. 17 No.2,h.212. Lihat juga Roman Tomasic, The Financial Crisis and Hapzard Pursuit of Financial Crime, Journal Financial of the Crime,2011, vol. 18., No.1, h.7.

Robert W. McGee, Applying Ethics to Insider Trading, Journal of Business Ethics ,2008, 77, h.206, DOI 10.1007/s10551-006-9344-6.

Jamzani Sodik, Didi N, 2005, Investasi dan Pertumbuhan Ekonomi Regional (studiKasus pada 26 Propinsi di Indoenesia, Pra dan Pasca Otonomi) Economic Journal of Emerging Market, Publishing by center of economic Studies UII, Vo.10, No.2, P.ISSN : 2086-3128, h.168.

Ataullah, Ali, Ian Davidson, Hang Le, Geofrey Wood, 2014, “Corporate Diservication, Information Asymetry and Insider Trading“, Britis Journal of Management, vol 24, p. 232. DOI :10.1111/j.1467-8551.2012.008846.x

Meulbroek LK, and Hart, 1997, The effect ofillegal insider trading on take over premia, Review of Finance, vol.1, p.51-80, DOI.10.1023/A:10009755324212.

Gill Brazier, 1996, Insider Dealing : Law and Regulation, Cavendish Publishing Limited, London, h.81.

Safitri, Indra, Transparansi Independent Pengawasan Kejahatan Pasar Modal, 1998, Cetakan 1, Global book, Jakarta, 229)

Fishman, M and K. Hargetty, 1992, Insider Trading and The Effesiency of Stock Price, RAND Journal of Economic, 23, p.106-122. ; Mane, H.G., Insider Trading : Hayek, Virtual Market, and The Dog That Not Bark”, be press legal series, paper. 543, 2005. ; Seyhun, H.N. 1986, “directors, Costs of Trading and Marketing Effeciency”, Journal of Finance Economic, 16, p.189-212.

Kaplan, Steven, Janet A Smuels, Linda Thorne B, 2009, “Ethical Norms of CFO Insider Trading”, Journal of Account Public Policy, 28, h. 384-400

Mc.Gee, Robert W, Analyzing Insider Trading from the Perspektives of Utilitarian Ethics and Right Theory, Journal of Business ethics , vol.91 – 1, Dordrecht, Netherland, Januari 2010, p. 65.

Mustasyir, Rizal, Landasan Filosofis Mazhab Hukum Progresif Tinjauan Filsafat Ilmu, Jurnal Filsafat, vol. 18 No. 1, April 2008.

Hamzah, Andi, Asas Asas Hukum Pidana, Rineka Cipta, Jakarta, 2004, h. 31.

Kalluki, Juha Pekka, Hnedrik Nilson, B.Jorgen Hell, 2009,”Why do Insider Trade?” Evidance Based on Unieque Data on Swedish Insider” Journal of Accounting and Economic, 48, p. 37-53.

Sitompul, Asril, Insider Trading, Kejahatan di Pasar Modal, Books Terrace & Library, 2007, h. 16.

Ahmad, Ruben, Hakekat Keberadaan Sanksi Pidana dan Pemidanaan dalam Hukum Pidana, Legalitas, Edisi Desember 2013, vol. V, Nomor 2.

Mustasyir, Rizal, Landasan Filosofis Mazhab Hukum Progresif Tinjauan Filsafat Ilmu, Jurnal Filsafat, vol. 18 No. 1, April 2008.

Mustasyir, Rizal, Landasan Filosofis Mazhab Hukum Progresif Tinjauan Filsafat Ilmu, Jurnal Filsafat, vol. 18 No. 1, April 2008.

Ahmad, Ruben, Hakekat Keberadaan Sanksi Pidana dan Pemidanaan dalam Hukum Pidana, Legalitas, Edisi Desember 2013, vol. V, Nomor 2.

Hamzah, Andi, Asas Asas Hukum Pidana, Rineka Cipta, Jakarta, 2004, h. 31

Marlina, Hukum Penintensier, Refika Aditama, Bandung, 2011, h.45-46.

Muladi, Muladi, Barda Nawawi Arief, 1998, Teori Teori dan Kebijakan Pidana, Bandung Alumni, h 16.

Bammelem, Van, Hukum Pidana I, cetakan kedua, Bina Cipta, Bandung, 1997, h. 25.

Hamzah, Andi, Asas Asas Hukum Pidana, Rineka Cipta, Jakarta, 2004, h. 31

Teriputra, Yuli Asmara, Krisis Terhadap Teori Ulititas, Majalah Disiplin, Vol 15 No. 03-September 2011, h. 61.

Arief, Barda Nawawi, Kebijakan Legislatif dan Penanggulangan Kejahatan dengan Pidana Penjara, Genta Publishing, Yogyakarta, 2010, h. 111-112

Romli Atmasasmita, Perbandingan Hukum, Mandar Maju , Bandung, 2000, h. 26-28

Nurhayati, Dwi Endah, Sistem Pidana Denda Dalam Kebijakan Legislatif di Indonesia, Tesis, Universitas Diponegoro, Semarang, 2008, h.98

Romli Atmasasmita, Perbandingan Hukum, Mandar Maju , Bandung, 2000, h. 28

Arief, Barda Nawawi, Bunga Rampai Kebijakan Hukum Pidana, Citra Aditya Bakti, 1996, h. 29.




DOI: http://dx.doi.org/10.20884/1.jdh.2019.19.2.2405

Refbacks

  • There are currently no refbacks.





JURNAL DINAMIKA HUKUM Indexed by :

 
Jurnal Dinamika Hukum
Faculty of Law, Universitas Jenderal SoedirmanCopyright of Jurnal Dinamika Hukum
Yustisia I Building, Room Number 111ISSN 2407-6562 (Online) ISSN 1410-0797 (Print)
Purwokerto, Central Java, Indonesia, 53122JDH is licensed under a Creative Commons Attribution 4.0 International License