| Issue |
E3S Web of Conf.
Volume 388, 2023
The 4th International Conference of Biospheric Harmony Advanced Research (ICOBAR 2022)
|
|
|---|---|---|
| Article Number | 03024 | |
| Number of page(s) | 5 | |
| Section | E-Business Sustainability | |
| DOI | https://doi.org/10.1051/e3sconf/202338803024 | |
| Published online | 17 May 2023 | |
Trapping Insider Trading Perpetrators with Misappropriation Theory, Is That Possible?
Business Law Program, Law Department, Bina Nusantara University, Jakarta 11480, Indonesia
* Corresponding author: agus.riyanto@binus.ac.id
In Indonesia, insider trading is a crime that the perpetrators do not easily catch. This is sourced from the theory of fiduciary obligations in Article 95 of Law no. 8 of 1995 concerning the Capital Market and restrictions on insider trading. In the United States, using the abuse theory in Sections 10(b) and Sections 10b-5, the Securities and Exchange Act of 1934 can reach anyone, without limitation, which is categorized as an insider trader. The main purpose of this paper is to find new ideas about the existing obstacles to ensnare insider trading actors that have been happening in Indonesia so far. For this reason, the method used is to compare regulations and insider trading cases in the two countries. This study shows that it is time for Indonesia to adopt the theory of misappropriation as an alternative to trapping insider trading actors in the capital market. This urgency is needed to foster investor confidence in the growth and development of the Capital Market in Indonesia.
© The Authors, published by EDP Sciences, 2023
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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