Financial Services Authority Regulation Number Research Articles

Bentuk Perlindungan Hukum Penyelesaian Sengketa Pinjaman Online di Indonesia (Suatu Pendekatan Norma Hukum)

The research aims to explore and analyze legal protection for parties in online loan transaction disputes and alternative dispute resolution through online loan application service networks. The type of research is normative legal research (normative research) using a statutory approach, a conceptual approach, analysis of legal materials is carried out by interpreting and assessing related laws and regulations and selecting relevant legal materials. The research results show that legal protection for parties in transaction disputes through the online loan application service network must be based on an agreement based on mutual agreement with the legal online loan provider and a dispute resolution institution must be determined in the initial agreement, carrying out legal enforcement for unlawful acts committed by the provider. and provide, in principle, this protection to protect the rights of debtors as consumers, resolving disputes in online loan transactions for technology-based loan actors because borrowers still do not know in detail the dispute resolution mechanism, Financial Services Authority Regulation Number 77/POJK. 01/2016 Article 29 letter e only regulates the principle of dispute resolution which is carried out simply, quickly and at low cost, the parties can freely choose a dispute resolution institution that has been recommended by the Financial Services Authority.

THE URGENCY OF STANDARDIZING THE OPEN APPLICATION PROGRAMMING INTERFACE IN IMPLEMENTATION OF OPEN BANKING FOR CUSTOMER PROTECTION

Open banking with Open Application Programming Interface (open API) technology is an initiative aimed at streamlining the payment system in Indonesia. The open API allows banks to integrate their systems with digital financial service providers (fintech) and bold trade (e-commerce) providers by disclosing customer transaction data. This study investigates the urgency of open API standardization in implementing open banking in Indonesia. This study uses a normative juridical approach to secondary data. The data includes primary, secondary, and tertiary legal materials. In addition, it also uses qualitative normative data analysis methods. It was concluded that before the National Open API Payment Standard (SNAP) stipulation, the process of sharing data between banks and fintech and/or e-commerce still needed to be standardized but was only based on an agreement between the parties. Banking in Indonesia has various open API standards that can affect the protection of customer data. According to the Financial Services Authority Regulation Number 12/POJK.03/2018, the relationship between banks, fintech, and/or e-commerce in providing digital banking services based on agreements between parties needs to be stronger. OJK is indeed present as a supervisory agency. However, the parties will eventually come back to a deal between themselves. Unlike the Regulations of the Financial Services Authority, the Regulations of the Members of the Board of Governors, which form the legal basis for SNAP, provide standards that must be complied with by both service providers and service users. However, implementing SNAP-based open APIs still requires personal data protection regulations.

Legal Responsibility of the Insurance Company for Unpaid Participant Claims

Insurance is a financial institution that has a vital role in the economy. Insurance protects the public from various risks, such as accidents, illness, and death. The insurance company must pay claims to insurance participants who experience losses in an insurance agreement. However, in practice, claims are often rejected by insurance companies. The purpose of this research is to analyze the legal responsibility of insurance companies for unpaid participant claims. This research uses normative legal research methods. Research data was obtained through a literature study. Research data was analyzed qualitatively using descriptive analysis methods. The research results show that insurance companies that reject insurance participants' claims can be subject to civil and criminal legal responsibility. If the participant's claim is not paid, the participant can file for bankruptcy through court. The regulations that provide the legal umbrella for protecting insurance participants consist of Law Number 8 of 1999 concerning Consumer Protection, Law Number 40 of 2014 concerning Insurance, Decree of the Minister of Finance No. 422/KMK.06/2003 concerning the Implementation of Insurance Business and Reinsurance Companies, and Financial Services Authority Regulation Number 23/POJK.05/2015 concerning Insurance Products and Marketing of Insurance Products. Legal protection for insurance policyholders as consumers are regulated in the Insurance Law and the Consumer Protection Law.

Wanprestasi Perjanjian Repurchase Agreement di Pasar Modal yang Berdampak Kerugian Investor Dihubungkan dengan Peraturan Otoritas Jasa Keuangan Nomor 9/Pojk.04/2015 Tentang Pedoman Transaksi Repurchase Agreement bagi Lembaga Jasa Keuangan

Abstarct. Guidelines regarding transactions repurchase agreement (REPO) has been regulated by the Financial Services Authority (OJK), but in practice there are still cases where one of the parties experiences losses due to non-compliance with the agreement in practice due to an action that is not in accordance with the agreement. The approach method used in this research is the Normative Juridical approach, namely a legal approach carried out by examining library materials or secondary data. This research is descriptive analytical in nature, which provides a description of an object being studied through the data collected, apart from that the analysis is also carried out based on relevant and latest laws and regulations in order to get answers to the problems being studied. Implementation of a repurchase agreement (REPO) transaction agreement, in this case the seller and buyer must enter into a written agreement that complies with the provisions of Financial Services Authority Regulation Number 9/POJK.04/2015. In relation to liability for default, the aggrieved party can take legal action in Article 1267 of the Civil Code, namely by requesting implementation of the contents of the agreement if it can still be implemented, requesting compensation, requesting cancellation of the agreement as well as compensation. Implementation of the repurchase agreement (REPO) transaction must be based on the agreement. written and implementing GMRA. Meanwhile, Financial Services Authority Regulation Number 9/POJK.04/2015 states that if an event of failure occurs, all parties must complete their obligations in accordance with the procedure for resolving the event of failure as well as the related rights and obligations that have been regulated in the repurchase agreement (REPO) transaction agreement.

Legal Protection For Third Parties Who Are Provided As Individual Guarantees By Fintech Peer-To-Peer Lending

The emergence of fintech companies is increasingly receiving attention from the public and regulators, namely the financial services authority (OJK) and Bank Indonesia (BI). This is stated in Financial Services Authority Regulation Number 77/POJK.01/2016 concerning Information Technology-Based Money Lending and Borrowing Services. This regulation regulates information technology-based money lending and borrowing services or what is called peer to peer money lending. As of May 24 2021, the total number of fintech peer to peer lending or fintech lending providers registered and licensed with the OJK was 131 companies. In the case of a loan recipient applying for a loan on an online loan platform, the borrower will usually be asked to include an emergency contact as a condition for applying for a loan, but this is done without the permission of the third party who is used as an emergency contact. This resulted in losses for the emergency contact party due to terror from the lender as a result of the loan recipient experiencing late payments. LBH Jakarta received 1330 reports of loan victims from 25 provinces in Indonesia. One of them is Dian Siregar, who was a victim who was terrorized by an online loan where he received a short message from one of the KSP Rupiah Petir Pro loan applications after being made a guarantor by his friend without prior approval or confirmation.

Kepastian Hukum Akta Perubahan Badan Kredit Desa Menjadi PT. Lembaga Keuangan Mikro

Related to the enactment of Financial Services Authority Regulation Number 10/POJK.03/2016 concerning Fulfillment of Rural Bank Regulations and the Transformation of Village Credit Agencies that are Granted Status as Rural Credit Banks. As regulated in Article 2 paragraph (1), which stipulates that BPR provisions must be fulfilled by BKD, namely institutional, prudential principles, financial reporting and transparency, as well as the application of accounting standards for BPR. However, in reality, not all BKD practices can fulfill the requirements for transformation into BPR, this is because BKD does not have a position as a legal entity, but has a unique work system, namely management which is carried out with simple integrated time, namely operational time which is only carried out at certain times and not every day carrying out operational activities. This research uses a normative juridical method with a statutory and conceptual approach, and legal materials are analyzed using a deductive method. The results of this research are that the transition of BKD to LKM is based on OJK regulation no. 10/POJK.03/2016 relating to the fulfillment of BKD transition provisions has a significant impact on BKD. This regulation requires BKD to change its legal entity status.

Crypto Asset Insurance for Physical Trading of Crypto Assets on the Crypto Asset Futures Exchange

Crypto assets are now recognized as commodities on the Crypto Asset Futures Exchange, and in creating a system to enable trading of crypto assets, the Commodity Futures Trading Regulatory Agency has provided certain guidelines for the parties involved to ensure that trading can be carried out without problems. However, the Commodity Futures Trading Supervisory Agency does not provide specifications regarding crypto asset insurance, which means that insurance companies must make crypto asset insurance in accordance with existing laws and regulations, namely the Commercial Law Book, Law Number 40 of 2014 concerning Insurance , as well as the Financial Services Authority Regulations as the body that regulates insurance. Thus, this paper aims to find out how crypto asset insurance will be regulated, as well as how it will be implemented, by assessing existing insurance laws and the implementation of crypto asset insurance in the United States, United Kingdom, and Canada. This paper uses normative legal research because it will mostly be based on doctrine, existing laws and other legal documents. Before being marketed, the insurance product itself must meet the requirements set out in Financial Services Authority Regulation Number 23 of 2015 and Financial Services Authority Circular Letter Number 13 of 2016 concerning Insurance Product Reports for Insurance Companies

PERAN OJK DALAM PERLINDUNGAN KONSUMEN PERBANKAN SYARIAH PERSPEKTIF EKONOMI ISLAM

The Financial Services Authority is an independent institution and free from interference from other parties that have functions, duties, authorities as regulation, supervision, and protection. The consumer protection function of the Financial Services Authority is contained in the Financial Services Authority Regulation Number 1 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector, Financial Services Authority Regulation Number 1 / POJK.07 / 2014 concerning Alternative Dispute Resolution Institutions, as well as Consumer Service and Complaint Resolution to Financial Service Institutions contained in the Financial Services Authority Circular Letter Number 2 / SEOJK.07 / 2014. The purpose of this study is to describe the form of implementation of consumer protection based on an Islamic economic perspective carried out by the Financial Services Authority of the Special Region of Yogyakarta (DIY) in handling consumer complaints in the Islamic banking sector. Research methods are qualitative methods through interviews, observation, and documentation. From the research, it is known that the Implementation of the Financial Services Authority in Consumer Protection in the Sharia Banking Sector has been well implemented in accordance with applicable laws and regulations and the application of principles in accordance with consumer protection in an Islamic economic perspective according to Alimin's theory.

Peran Pejabat Eksekutif sebagai Pelaksana Fungsi Kepatuhan dalam Penerapan Prinsip Good Corporate Governance pada PT. BPR Gunung Simping Artha Purwokerto

Executive officers are officials who are elected to carry out compliance duties in the company, especially in rural banks, and are directly responsible to the Director. Carrying out tasks is very important for BPR so that the work program complies with applicable regulations. Based on the Financial Services Authority Regulation Number 4/POJK.03/2015 Implementation regarding Governance for Rural Banks, it is stated that the work unit or executive officer assigned to ensure company compliance must carry out management related to compliance with regulations, and then report it to Director. In this study, the company PT. will be specific. BPR Gunung Simping Artha Purwokerto has carried out its compliance duties by appointing executives who are proven through the submitted Good Corporate Governance reports, which reflect the principle of accountability.

Analisis Penerapan Manajemen Risiko Kredit pada Perusahaan Start-Up Fintech PT A

Fintech PT A is one of the pioneers in Indonesia that serves business people with lenders on a digital platform. One of the problems faced by fintech PT A is the increase in non-performing loans. This research is a case study at a fintech startup to analyze the application of credit risk management and provide recommendations for improving credit risk management to improve company performance. The methodology used in this research is descriptive qualitative analysis by collecting data from interviews and documentation studies. Interviews were conducted with the Director of Credit and Collection and Director of Risk who have a crucial role in risk management in the company. The results of the study show that the application of risk management to PT A is in accordance with the four stages of the Indonesia’s Financial Services Authority regulation number 04/POJK.05/2021 namely credit risk identification, credit risk measurement, credit risk control, and credit risk monitoring. However, the application of credit risk management by PT A based on data analysis obtained through interviews and documentation studies shows that the results have not operate optimally. Because at the stages of monitoring credit risk and controlling credit risk there are still several aspects that have not been fulfilled based on the Indonesia’s Financial Services Authority regulation number 04/POJK.05/2021. So the recommendation that can be given is that the company can create a more structured and sustainable risk management system with all related divisions so that it can accommodate all aspects of risk up to the risk monitoring and control process.

SETTLEMENT OF PROBLEM FINANCING AFTER THE COVID-19 PANDEMIC AT BANK SYARIAH INDONESIA, BANDA ACEH

This research examines the Analysis of Troubled Financing Restructuring and the Urgency of Post-Covid-19 Agreement Renewal at BSI Aceh. The purpose of this research is to find out the implementation of post-covid-19 problem financing restructuring at Bank Syariah Indonesia (BSI) Aceh Branch, and to find out the urgency of renewing the post-covid-19 financing contract at BSI Aceh, to find out the Handling of Post-Covid-19 Financing Restructuring at BSI Aceh. This research uses a qualitative method with a descriptive approach. The research took place at BSI Aceh branch. The data sources used in this research are primary data sources and secondary data sources. The data collection methods used are observation, interviews, and documentation. The data analysis technique used in this research is descriptive analytical technique. The results showed that BSI in Aceh in providing financing restructuring to customers due to the Covid-19 Pandemic is based on Financial Services Authority Regulation Number 16/POJK.03/2014, which can only be given to customers who have difficulty fulfilling their obligations to the bank due to their business being affected by Covid-19. The stages of restructuring are rescheduling, re-conditioning and re-structuring. All these stages are carried out in order to fulfil the purpose of the initial contract of a customer with the bank, namely to give birth to a legal effect or mutual intention that is intended and which the parties want to realise through making a contract.

IMPLEMENTATION OF BANKING CREDIT AGREEMENTS RESTRUCTURING DURING THE COVID-19 PANDEMI AT BPR ARTHA MUKTI SANTOSA

Apart from having a significant impact on the economic and financial sectors, the presence of Covid-19 has had a negative impact on all aspects of state administration. During the Covid-19 era, when non-performing loan cases have skyrocketed, the banking sector plays an important role, not only as a provider of capital but also because it is important to enable and handle the growth of customer-run companies so that companies can develop while minimizing the danger of bankruptcy, both for customers as a debtor or for a bank as a creditor. Debtors who have difficulty fulfilling their commitments to the Bank due to the spread of Covid-19 are given special treatment based on POJK Number 11/POJK.03/2020, which discussesNational Economic Stimulus as a Countercyclical Policy. During the Covid-19 pandemic. The problem raised by the author is how to apply the restructuring of banking banking agreements during the Covid -19 pandemic at BPR Artha Mukti Santosa and what are the obstacles to implementing banking banking agreement restructuring during the Covid -19 pandemic at BPR Artha Mukti Santosa. The method used by the author is normative juridical by using secondary data such as literacy tests and in-depth interviews with employees at BPR Artha Mukti Santosa to draw conclusions about the law and its application to real world situations. Based on the results of research and discussion that the implementation of restructuring at BPR Artha Mukti Santosa was carried out incorrectly to prospective debtors with strict procedures referring to POJK provisions Number 18/POJK.03.2021 Jo POJK 17/POJK.03/2021 Jo POJK 34 /POJK.03/2021 Regarding the Second Amendment to the Financial Services Authority Regulation Number 34/POJK.03/2020 Concerning Policies for Rural Credit Banks and Sharia Rural Banks As a Impact of the Spread of Coronavirus Disease 2019 such as conducting surveys on debtor business health, debtor eligibility, and good faith of the debtor. Obstacles in implementing Restructuring at BPR Artha Mukti Santosa BPR are such as uncooperative debtors in following the rules, lack of cooperation and bad faith from debtors. 
 
 Keywords: Restructuring, Credit, BPR Artha Mukti Santosa

Upaya Polri Memberikan Perlindungan Hukum bagi Konsumen dalam Perjanjian Pinjaman Online Ilegal di Surakarta

Technology and information are currently experiencing developments in carrying out activities in all fields with the help of technology. One of them is that online-based lending has not only positive but negative impacts, namely online loan practice services that are not registered with the Financial Services Authority (OJK) or illegal online loans which are services that have caused many cases in society. Perpetrators of illegal online loans can be subject to article 32 paragraph 1 of the Electronic Information and Transaction law. However, even though there are legal regulations, cases of illegal online loans are still found in the field. The problem in this research is how is legal protection for consumers of illegal online loans and the obstacles faced in tackling illegal online loans. This type of research is empirical juridical where data is obtained from interviews and also from literature studies. Data collection techniques were carried out by interviews at the research location after obtaining the data and then the data were analyzed qualitatively. The results of this study are that legal protection is provided for consumers in a preventive and repressive manner. Preventive legal protection is contained in Law no. 8 of 1999 concerning consumer protection, while repressive legal protection is contained in the Financial Services Authority Regulation Number 77/POJK.01/2016 of 2016 concerning Information Technology-Based Money Lending Services.

FULL DISCLOSURE AND MATERIAL INFORMATION PRINCIPLE FOR BACK DOOR LISTING COMPANIES

This paper provides an analysis of the private company transactions in Indonesia known as BDL that are not listed on the stock exchange. The focus of this paper is on the significance of disclosure and material information for companies engaging in "back door listings." The research methods employ normative legal research with a legal perspective. This research relies on main legal materials, namely Financial Services Authority Regulation 7/POJK.04/2017 on Registration Statement Documents. Meanwhile, secondary legal resources are legal materials that explain main legal materials. The findings proved that Investors should be wary of BDL stock transactions in Indonesia as they are often not overly regulated by comprehensive listing laws and are vulnerable to signs of fraud. Hence, investors are advised to avoid investing in BDL companies. In terms of implementing BDL in Indonesia, corporate action by way of acquisition must have the same standard of Principles of Openness (Full Disclosure) and material information that applies to IPO’s by revising Investment Law and Limited Liability Company Law as well as Financial Services Authority Regulation Number 7/POJK.04/2017 concerning Documents Registration Statement for Public Offering of Equity Securities, Debt Securities, and/or Sukuk by authorizing OJK to conduct a SWOT analysis (strengths, weaknesses, opportunities, and threats).

Arbitrator Neutrality in Alternative Sharia Banking Dispute Resolution: Instruments for Consumer Protection

This study aims to determine the form of legal protection for consumers who are in dispute with Islamic banking institutions through arbitration forums. Implementation of Financial Services Authority Regulation Number 61/POJK.07/2020, namely the establishment of an Alternative Institution for Financial Services Sector Dispute Resolution (LAPS JK), one of the dispute resolution mechanisms through arbitration. The appointed arbitrator is obtained from the internal procedures carried out by the institution. So that there is potential for arbitrators to be non-neutral in examining cases that affect the protection of Islamic banking consumers. The type of research used is qualitative research with a normative approach. Data collection was carried out through a desk-review process, while the analysis process was carried out through data reduction, data presentation, and drawing conclusions. The results of the study show that even though the arbiters who examine cases between consumers and Islamic banking institutions come from Alternative Dispute Resolution Institutions, one of which is the Association of Indonesian Sharia Banks (ASBISINDO), the neutrality of these arbiters has been supervised by the existence of a code of ethics that has been established by the institution. If the arbiter is proven not to be neutral in examining a case, then there is a mechanism for enforcing the code of ethics. So that the potential for conflicts of interest in alternative dispute resolution through arbitration between Islamic banking institutions and their consumers can be avoided.

Analysis of Financial Services Authority Regulation Number 10/Pojk.05/2022 Concerning Information Technology-Based Joint Funding Services in the Perspective of Legal Purposes

There is the regulation of the Financial Services Authority Number 77/POJK.01/2016 and the Financial Services Authority Regulation Number 10/POJK.05/2022 concerning Information Technology-Based Joint Funding Services. This research focuses on the laws and regulations in Indonesia relating to regulating financial technology peer-to-peer Lending in Indonesia. This study uses a statutory approach and a conceptual approach. This research aims to determine whether changes to regulating financial technology peer-to-peer Lending can better support legal objectives. The resulting research is that Each amendment article has positive consequences for the organizers, the funders, and the recipients of the funds. In general, changes in these regulations are intended to benefit most of society, as said by Jeremy Bentham. This research uses normative juridical analysis. This research is limited to a study based on secondary data.

Analysis of Financial Services Authority Regulation Number 10/Pojk.05/2022 Concerning Information Technology-Based Joint Funding Services in the Perspective of Legal Purposes

Analysis of Financial Services Authority Regulation Number 10/Pojk.05/2022 Concerning Information Technology-Based Joint Funding Services in the Perspective of Legal Purposes

CONSUMER PERSONAL DATA LEGAL PROTECTION ON ILLEGAL FINTECH LOANS

Currently, there are many online loans that make it easy for people to access credit. In addition to providing convenience, online loans can also harm the public by disseminating personal data. The protection of the rights of online loan service users is considered not optimal. This study aims to find out about the misuse of technology, especially in financial technology. The research method used is a normative juridical approach, the research phase is a literature study, data collection techniques through document studies and normative qualitative data analysis. The results of the study show that consumer protection and consumer personal data protection are indispensable. In this regard, it is important to review the legal protection of borrowers' personal data in online loan application services and sanctions for violations of personal data. The state has provided consumer protection as regulated in Law Number 21 of 2011 concerning Consumer Protection and Financial Services Authority Regulation Number 6/POJK.07/2022 concerning Consumer and Community Protection in the Financial Services Sector.

Legal Reconstruction of Financial Technology Crime Sanction Regulations Based on Pancasila Justice

In a very rapid economic development, it cannot be denied that the absorption of credit in people's lives is growing rapidly. In this case, in all the use of products or services by consumers, consumers have the right to obtain legal certainty corporate bullying billing financial technology is one of the most publicly highlighted violations of law today. This study has 2 (two) main problems, namely to identify and analyze the weaknesses that result in the implementation of criminal sanctions regulations in financial technology criminal cases in Indonesia that are currently not fair and attempts to reconstruct criminal sanctions regulations in financial technology criminal cases based on Pancasila justice. This research method uses a juridical-empirical approach. Analysis of primary and secondary data is carried out using a descriptive-analytical method. The results of the research and discussion show that the weaknesses that result in the implementation of criminal sanction regulations in financial technology crime cases in Indonesia are that they do not contain criminal threats for violating the provisions of Article 44 paragraph (1) of the Republic of Indonesia Financial Services Authority Regulation Number 10/Pojk.05/ 2022 Regarding Technology-Based Co-Funding Services. Efforts to reconstruct the regulation of criminal sanctions in financial technology crime cases based on Pancasila justice, namely by adding criminal provisions to the criminal provisions in Article 44 of the Regulation of the Financial Services Authority of the Republic of Indonesia Number 10/Pojk.05/2022 Concerning Information Technology-Based Joint Funding Services by adding one paragraph. So that the provisions in Article 44 of the Regulation of the Financial Services Authority of the Republic of Indonesia Number 10/Pojk.05/2022 Concerning Information Technology-Based Joint Funding Services.

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

The development of the economy in Indonesia requires large funds so that it is necessary to provide facilities for the provision of funds needed by the community, so that the creation of financial institutions, one of which is a non-bank financial institution. Non-Bank Financial Institutions are business entities in the financial sector that are allowed to collect and distribute funds to the public but not in the form of savings, demand deposits or time deposits. Promissory Notes are commercial securities that are regulated by law, in this case a non-bank financial institution that issues promissory notes as a means of transaction must obtain permission from financial institutions, namely the Financial Services Authority and Bank Indonesia. Based on the background of the problems above that have been explained, the issue that will be raised is how is Law Enforcement from the Financial Services Authority against fraudulent promissory note customers from Non-Bank Financial Institutions that do not have a license. The method used is normative juridical which is carried out to obtain the necessary legal materials related to the object of research. The results of this study are based on the Financial Services Authority Regulation Number 35/POJK.05/2018 concerning Conducting a Financing Company Business spurring the growth of the performance of the financing industry which is considered not optimal.