Regulation Authority Research Articles

The Concept of Reforming Military Justice System Specifically in the Termination of Investigations on the Regulation of Institutions and Authority of Military Police Investigations in Indonesia

Objective: Military Criminal Procedure Law (HAPMIL) (Law No 31 of 1997) on Military Justice was found to require legal reform to correlate with current legal developments. The substance of this law should further adapt to evolving legal principles including the prompt resolution of cases and the realization of justice as well as legal benefits which were the objectives long desired in the scope of Military Justice in Indonesia. Theoretical Framework: In this context, there have been no regulations allowing Military Police Investigators (POM) to terminate military case during the investigation stage, even when valid reasons for termination exist. Therefore, this study aimed to address the lack of authority granted to POM to terminate investigations which undermined the effectiveness of legal processes. Method: The analysis further used a normative legal approach and concluded that empowering POM investigators with authority to terminate investigations would enhance the efficiency of law enforcement. Results and Discussion: Specifically, when POM determined that an investigation lacked sufficient evidence to proceed terminating the process in accordance with legal provisions would ensure fairness and clarity for both the accused and investigators. Research Implications: This study provides valuable insights for policymakers, agricultural practitioners, and stakeholders in Magetan Regency. Originality/Value: This research offers a unique contribution to the existing literature on food security and land use planning. The findings of this study can be applied to other regions facing similar challenges, making it a valuable resource for researchers, policymakers, and practitioners.

The Effect of Changes in the Indonesian Mortality Table on Pension Fund Calculations Using the Projected Unit Credit Method

Companies are required to prepare a pension fund for their employees as a form of appreciation and compensation for the services that have been given to the companies. In Indonesia, the calculation of pension funds is regulated in the Financial Services Authority Regulation (POJK) number 3 concerning Pension Fund Investments. Projected Unit Credit uses the distribution of pension benefits that pension participants will get if they work until they reach normal retirement age with a total of years of service. In this research, the researchers are using two mortality tables on the value of pension funds using the projected unit credit method. The data in this research uses salary data from PT. XYZ with the assumption of retirement age at the age of 58, and an interest rate of 6.25% based on <em>Bank Indonesia</em>’s rate. The results of this research show that changes in normal cost and actuarial liability for both males and females are visible at the age of entry into employment until the middle of the working period, while the effect of changes in the mortality table at the final age approaching retirement is not very significant.

ADVANCING FUTURISTIC DIGITAL BANKING: STRATEGIC ENHANCEMENT AND A ROADMAP FOR EXCELLENCE

This research aims to rectify misconceptions surrounding banking digitalisation and conduct an in-depth analysis of Bank Indonesia and the Financial Services Authority’s (OJK) policies concerning developing and enhancing the banking sector’s digitalisation. Additionally, this study is designed to formulate a strategic roadmap for developing banking sector digitalisation, accompanied by risk mitigation processes. The fundamental misconception identified herein pertains to the limited understanding of banking digitalisation as merely transitioning from conventional to digital services. This narrow perspective, still embraced by regulatory authorities, adversely impacts national banking industry stakeholders. Employing a normative legal research methodology through an extensive literature review, our findings reveal a prevailing tendency towards structural collaboration in policy formulation rather than embracing synergistic approaches. This research underscores the urgency of formulating visionary and flexible policies in banking digitalisation. Based on the findings, this study seeks to build the framework for policy formulation by regulation authorities in conducting further studies regarding the direction of policies for developing and strengthening banking sector digitalisation.

Legal Certainty of Sustainable Finance Provisions in Relation to Corporate Social Responsibility (CSR) Programs at Financial Services Institutions

Corporate Social Responsibility (CSR) has become an essential element in the operations of companies, particularly financial service institutions, in line with the growing attention to the concept of sustainable finance. This research is motivated by the legal uncertainty in implementing sustainable finance linked to CSR programs, which often face issues such as inconsistent definitions, unclear sanctions, and non-standardized reporting mechanisms across various regulations. The objective of this study is to analyze the regulation of sustainable finance in relation to CSR and evaluate the legal certainty embedded in its implementation by financial service institutions. This study employs a juridical-normative method with an analytical approach to legislation, official documents, and case studies in several companies within the financial services industry. The results indicate that the regulations on sustainable finance and CSR in Indonesia still face several challenges. Law No. 40 of 2007 on Limited Liability Companies regulates CSR obligations generally but does not impose specific sanctions. Meanwhile, Law No. 25 of 2007 on Investment provides for administrative sanctions but lacks clear enforcement mechanisms. Additionally, the Financial Services Authority Regulation (POJK) No. 51/POJK.03/2017 mandates financial service institutions to develop sustainability action plans and sustainability reports, but its implementation is limited to certain sectors without addressing inclusivity. Existing regulations also fail to optimally provide tax incentives that can encourage consistent CSR implementation by businesses. The conclusion of this study highlights the need for regulatory harmonization to create legal certainty that supports the implementation of sustainable finance and CSR. This includes aligning definitions, strengthening reporting mechanisms, establishing clear sanctions, and improving oversight. With legal certainty, financial service institutions can be more confident in investing in sustainability projects and executing CSR programs that positively impact society, the environment, and business continuity. This research aims to serve as a reference for policymakers and companies in promoting inclusive social and economic development.

Financial Services Authority Intervention as an Effort to Protect Bondholders in Corporations Declared Bankrupt by Commercial Court

This article discusses the fulfillment of rights for corporate bondholders declared bankrupt by the Commercial Court. No regulation can provide a comprehensive and integrated benchmark to ensure the protection of the rights of bondholder creditors, making this article important to discuss. This research aims to analyze the status of corporate bondholders declared bankrupt by the Commercial Court as creditors in the liquidation process, evaluate the forms of legal protection applied during the process, and assess the future application of the law in providing certainty of protection for bondholders. This research used normative legal research with statutory, historical, and futuristic approaches. The discussion results are carried out using an analysis perspective emphasizing deductive conclusions. Although corporate bondholders declared bankrupt by the Commercial Court have rights as creditors in the bankruptcy process, the legal protection is still ineffective. A regulatory gap results in uncertainty when implementing protection for bondholders. Revision of the Bankruptcy Law by including regulations regarding bondholders' creditors will provide certainty for the protection of creditors' rights, which can be derived in the Financial Services Authority (OJK) Regulation by enforcing supervision in the bankruptcy process in order to protect the interests of bondholders and ensure the stability of the economic development.

Legal Perspective on the Credit Restructuring Program as an Effort to Accelerate the Recovery of the Business Sector Post the COVID-19 Pandemic

The COVID-19 virus outbreak Indonesia has created problems very significant impact sustainability of MSMEs in Indonesia, and that is turned out to have impact on decline in MSME sector. To overcome the problems caused by COVID-19, government has issued various policies, one of which is restructuring of the COVID-19 stimulus credit stipulated in Financial Services Authority Regulation. This study aims to determine implementation and impact of credit restructuring policies on MSME debtors. Research is normative-empirical juridical type and descriptive in nature. Data in this study consisted of primary and secondary data. Data collection instruments in this study were divided into two, namely primary and secondary data. Primary data was collected by interview method, while secondary data collection used documentation study. This study uses qualitative analysis techniques. Goal of this research is to analyze the effectiveness of credit restructuring program in supporting economic recovery after COVID-19 pandemic.

Trends in fluoroquinolone prescribing in UK primary and secondary care between 2019 and 2023.

Fluoroquinolones are important antibiotics but have associations with a number of adverse outcomes. A recent (January 2024) decision by the UK drug regulator, the Medicines and Health Regulatory Authority (MHRA), restricted systemic use of these antibiotics to when 'absolutely necessary'. One stated reason for the ban was the failure of previous guidance (2019, 2023) to reduce prescribing, with the MHRA stating there had been 'no change in prescribing' of fluoroquinolones in relation to guidance. We evaluated the trend in prescribing of fluoroquinolones and comparator antibiotics using national data for all primary care practices in England from 2019 to 2023. We calculated the percent change in prescribing of fluoroquinolones using linear regression, comparing with other antibacterials. We also performed analysis on secondary care prescribing and included hospital inpatient stay data. In primary care, there was a negative trend in fluoroquinolone item dispensing, with a 4.2% reduction in items dispensed per year (95% CI -5.2% to -3.3%; P = 6 × 10-13). This occurred despite no change in overall antibacterial prescription and no decrease in comparator antibiotics. Secondary care data showed stable prescription of fluoroquinolones, but comparator antibiotics increased, leading to relatively fewer prescriptions compared with other agents. There was a reduction in fluoroquinolone prescribing in England in absolute and relative terms between 2019 and 2023 in primary care, and absolute terms in secondary care. These findings do not support the MHRA's claim that there has been no change in prescribing in response to warnings.

Housing for millions without new buildings? An analysis of the theoretical housing potential of under-occupied dwellings in the European building stock

Abstract The standard response to the shortage of housing across the political spectrum is to build new housing units. From an environmental perspective, there is a need to decarbonise the housing sector as quickly as possible and to reduce land and resource consumption. This contradiction could be resolved by making more efficient use of dwellings that are under-occupied (for example, after children have moved out). 
In this article, we analyse the theoretical housing potential of under-occupied living space. To this end, we use established occupancy regulations of Swiss cooperatives and municipal housing authorities, where the number of residents must always be at least equal to the number of rooms minus one or minus two. This defines an upper limit for “needs-based living” that has been tested in practice and is comparatively broadly legitimised. Using this threshold, and based on Data from the EU Survey on Income and Living Conditions (EU-SILC), we identify a theoretical housing potential in the EU stock of approximately 150 million rooms. This implies a theoretical space in the building stock for 50 million additional three-room flats, which equates to housing for 100 million people or 22% of the EU population. Significant potential exists in all types of regions: cities, towns and rural areas. The under-occupancy is lower in countries with a higher share of small and medium sized flats, which indicates a high influence of the infrastructure on the occupancy. A comparison with the occupancy in Swiss housing markets that have minimum occupancy requirements implemented suggests that a large part of the theoretical potential could be realized by shaping market conditions. We conclude that housing politics should focus on the development of affordable and attractive alternatives for older people and smaller households in order to free up dwellings for families and adress social and ecological problems simultaneously.

IMPLEMENTATION OF THE SETTLEMENT OF MSME BAD LOANS BASED ON POJK NUMBER 11 OF 2020 DUE TO THE COVID-19 PANDEMIC (STUDY AT PT. BANK RAKYAT INDONESIA (PERSERO) TBK SURAKARTA)

<em>This article aims to review legal issues regarding the implementation of the settlement of M</em><em>SME bad loans based on Financial Services Authority (POJK) Regulation Number 11 of </em><em>2020 at PT. Bank Rakyat Indonesia and constraints in the implementation of bad credit settlement due to Covid-19 and alternative solutions. To achieve this goal, then empirical legal research is conducted which is descriptive The data type in this study consists of primary data obtained directly from the field and secondary data obtained from the results of literature study. The primary data collection technique used is to use interview techniques, while secondary data collection techniques use downloading and collecting necessary legal materials. The data analysis techniques used are interactive analysis models. The results of this research and study, show that the implementation of economic recovery policy issued by the government has been applied well by Bank BRI, especially for Micro, Small, and Medium Enterprises (MSMEs) debtors. The form of restructuring conducted by Bank BRI Surakarta is by lowering interest rates and extending the installment period. Government policy by issuing a credit relaxation policy is a very appropriate step, especially for debtors of Micro, Small, and Medium Enterprises or MSMEs of Bank BRI Surakarta. The settlement of bad loans due to the Covid-19 pandemic at Bank BRI Surakarta has been implemented based on The Financial Services Authority (POJK) Regulation Number 11 of 2020 on The Stimulus Impact of Covid-19. An alternative solution to the constraints of the implementation of bad credit settlement due to Covid-19 is the launch of</em> the<em> Economic Recovery Program (PEN) through the Regulation of the Financial Services Authority (POJK) Number 11 of 2020 on Stimulus Impact of Covid-19. State-owned banks, in this case Bank BRI Surakarta has helped MSME debtors affected by Covid-19</em>

PROBLEMATIKA PELAKSANAAN RESTRUKTURISASI KREDIT MACET AKIBAT COVID-19 BERDASARKAN PERATURAN OTORITAS JASA KEUANGAN NOMOR 11/POJK.03/2020 (Studi BPR Sami Makmur)

This article this thesis law aims to review legal issues to see the implementation of bad credit restructuring due to Covid-19 by BPR Sami Makmur in accordance with the Financial Services Authority Regulation (POJK) Number 11 / POJK.03 / 2020 as well as prohibitions and alternative solutions that can be applied to problems in implementation. bad debt restructuring due to Covid-19 by BPR Sami Makmur in accordance with the Financial Services Authority Regulation (POJK) Number 11 / POJK.03 / 2020.The research method which is empirical legal research is descriptive analytical. The sources of legal materials used are primary and secondary legal materials. The research approach technique used a qualitative approach method. Data observation techniques used document study, interview or observation, observation or observation. The technique of analyzing legal materials uses a syllogistic method that uses a deductive mindset.These results indicate that the implementation of bad debt restructuring is carried out through changes in loan interest rates, additional credit ceilings, extension of credit terms, changes in interest arrears and loan principal, collateral auction or liquidation to simple lawsuit filing. The results of this study also show that during the implementation of the restructuring, including the debtor's lack of education / understanding regarding the restructuring, the debtor does not meet the debt restructuring debtor category, the debtor does not carry out the contents of the credit restructuring according to the agreement.

Legal Consequences for Debt Collectors Exceeding Their Authority: A Case Study of PT Mega Central Finance Bagan Batu

This study aims to analyze the authority of debt collectors from a civil law perspective, focusing on a case study of PT Mega Central Finance Bagan Batu. To achieve this objective, this study employs a mixed method of field research and normative legal research, where the collected data is analyzed qualitatively to describe the problems and answer the research objectives. The results show that the problem of bad credit encourages financing companies to use debt collectors’ services to optimize the collection process. Meanwhile, debt collectors must have competency certification and act based on an extraordinary power of attorney from the financing company, as regulated in Financial Services Authority Regulation Number 35/POJK.05/2018 and Article 1795 of the Civil Code. Despite having compiled a standard operating procedure for collection, PT Mega Central Finance Bagan Batu still encounters deviant debt collector practices that harm debtors, such as intimidation, threats, and seizure of collateral without legal procedures. These actions violate the rights of debtors and legal principles. The legal consequences and implications cover criminal law, civil law, consumer protection law, and administrative sanctions from the Financial Services Authority.

The Impact Of Financial Technology Service Users On Not Paying Online Loan Bills Is Linked To Positive Law

Financial Technology (Fintech) is a financial service that uses a technology base that makes it easier for transactions to be carried out anywhere and at any time. Currently, one of the services in Indonesia is Financial Technology or Fintech which is developing rapidly, especially online loans because it has been proven that many people are interested. The existence of online loans or peer to peer lending as a form of financial technology (fintech) is the impact of technological advances which offer many loans with easier and more flexible terms and conditions compared to conventional financial institutions such as banks. This development must be accompanied by good legal instruments to avoid existing risks. The research method used is normative research with a statutory approach. The results of this research refer to several articles. Namely. Article 1320 of the Civil Code, so that an agreement arises from an agreement. Then, Financial Services Authority Regulation Number 77/POJK.01/2016 concerning Information Technology-Based Money Lending and Borrowing, Law Number 8 of 1999 concerning Consumer Protection, Law Number 27 of 2022 concerning Personal Data Protection

Contemporary Challenges for Sharia Financial Institutions to Increase Competitiveness and Product Innovation Perspective of Sharia Economic Law: Evidence in Indonesia

Globalisation and technological advancement present contemporary challenges for Indonesia's Sharia Financial Institutions (LKS) in maintaining competitiveness and innovating. This study examines these challenges, including the acceleration of financial technology (fintech), regulatory changes, and rising consumer expectations for inclusive and efficient services. LKS is required to continuously innovate and create products that meet the needs of a dynamic market while still following the principles of Sharia economic law. This research discusses how LKS integrates fintech and Islamic financial technology in their operations. This research uses a qualitative method with a descriptive-analytical approach. Data were collected through a literature study and document analysis related to government regulations and policies regarding Sharia Financial Institutions. The literature study and document analysis also included laws and regulations related to Islamic finance, Islamic economic law regulations, academic articles (journals), and books that discuss product innovation and competitiveness challenges of Sharia Financial Institutions. This study found that regulations such as the Financial Services Authority Regulation (POJK) and the fatwa of the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) provide a legal basis to support such innovation. However, LKS still faces challenges such as competition with conventional financial institutions, regulatory changes, and technological disruption. To remain competitive, LKS must adjust innovations such as Sharia fintech and crowdfunding following Sharia principles. In addition, public education on Sharia products is also important to increase financial inclusion. Through innovations such as factoring, bespoke financing, and solutions for online businesses, LKS can improve efficiency and empower small businesses while contributing to sustainable economic growth.

Crucial Changes in Polish Regulation of Parental Authority Over the Last 100 Years

The article discusses significant changes in Polish family law over the past century. It focuses on the concept of parental authority, explaining its meaning and position in Polish law in the first part of the article. The following section mentions and comments on legal documents related to parental authority during the last century. The final section investigates five legal changes in the institution under study which the author considers crucial for its development. These changes include the legal status of men and women in relation to parental authority, the legal status of out-of-wedlock children, the predominant values underpinning parental authority, the prohibition of corporal punishment, and the state’s interference with parental authority. The article argues that despite the changes in legal, political, and economic systems experienced by Poland over the last century, there has been significant continuity and stability in the development of Polish family law.

Enhancing Public Knowledge of Sharia Insurance Products in Indonesia Through Effective Management Strategies

Islamic insurance, known as Sharia Insurance, has emerged as a vital aspect of Indonesia's financial landscape. Sharia Insurance adheres to Islamic economic principles, offering products such as takaful (mutual guarantee) and mudharabah (profit-sharing). The potential for growth in Indonesia's Sharia insurance sector is substantial, bolstered by the country's predominantly Muslim population, which constituted 87.2% of the total population in 2021. Moreover, under Financial Services Authority Regulation (FSAR) Number 11 of 2023, Article 15, Sharia financial institutions are mandated to prioritize Sharia-compliant financial products. Despite these regulatory supports, however, Sharia insurance has achieved only a modest market share, with premiums accounting for just 4.76% as of December 31, 2022. In response to these challenges and opportunities, this study aims to examine the barriers, particularly the issue of public awareness, where many individuals lack a comprehensive understanding and appreciation of the advantages offered by Sharia insurance products. Consequently, this paper addresses two main objectives: 1) identifying factors contributing to public misconceptions and limited awareness of Sharia insurance benefits, and 2) exploring initiatives aimed at addressing these issues. This research employs a qualitative approach, employing systematic literature review techniques to analyze relevant books and literature focused on the identified themes. The findings aim to offer insights into the challenges faced by Sharia insurance and propose strategies to enhance public awareness and understanding of Islamic insurance products.

Japanese translations of ICRP Publications on contract with the Nuclear Regulation Authority, Japan; activities in FY 2022

The project of Japanese translations of ICRP Publications is conducted by the Nuclear Regulation Authority of Japan (NRA) to share ICRP's knowledge widely among those concerned and to assist in enhancing reliability of Japanese domestic regulations. To hear from a professional and objective standpoint, the ICRP Publications Japanese Translation Committee was established to offer suggestions to the NRA about the selection of the Publications to be translated and to approve the final version of the translation. The priority of selection is given to those Publications that deal with important and urgent issues deeply connected to Japanese domestic radiation safety regulations. To ensure quality of translations, 7-step procedure was adopted. In financial year (FY) 2022, Japanese translations of Publications 129 and 135 will be published (by March 2023).

Affiliate Transactions and Conflicts of Interest (Legal Analysis of Transactions Between Pt. Telkomsel to The Company Pt. Karya Anak Bangsa)

Affiliate transactions are any activities and/or transactions carried out by a public company or controlled company with affiliates of a public company or affiliates of members of the board of directors, members of the board of commissioners, major shareholders or controllers.The problem approach applied in this research is normative juridical, also known as doctrinal legal research. In this type of legal research, law is often conceptualized as what is written in statutory regulations (law in books) or law is conceptualized as rules or norms which are benchmarks for human behavior that is considered appropriate. Affiliate transactions and conflicts of interest (legal analysis of transactions between PT Telkomsel and GOTO), with allegations of Affiliate Transactions and Conflicts of Interest regarding PT Telkom's subsidiary, namely PT Telkomsel, to the company PT Karya Anak Bangsa or GOTO. The purpose of writing is none other than to find out and increase insight into the development of legal science, especially in the study of capital market and investment law, as well as to better understand and analyze how the financial services authority regulation No. 42 of 2020 concerning Affiliate Transactions and conflicts of interest

Penggunaan Metode RGEC Untuk Menilai Tingkat Kesehatan Bank Sebelum Dan Sesudah Merger Pada PT Bank Syariah Indonesia

Bank health assessment is an assessment of various aspects that affect the performance of a bank. The assessment can determine the level of bank health that is very healthy, healthy, fairly healthy, unhealthy or even unhealthy. The purpose of this study is to determine the health level of Bank Syariah Indonesia using the RGEC method before the merger, during the merger and after the merger. The object of this study is the assessment of bank health using the RGEC method. The data used is quantitative. The data sources obtained are secondary data in the form of financial reports published by the official website https://ir.bankbsi.co.id/. The method used is the Data Collection Method and Analysis Method using the Financial Services Authority Regulation Bank Indonesia Circular Letter No. 13/24/DPNP 2011. The results of this study indicate that the assessment before the merger in 2020, the average RGEC obtained was 86% with a very healthy rating. The merger in 2021, the average RGEC obtained was 91% with a very healthy rating. After the merger in 2022 and 2023, the average RGEC obtained was 91% with a very healthy rating. Based on the results of this study, it is recommended for Bank Syariah Indonesia to continue to maintain and improve the performance that has been achieved, and to conduct periodic evaluations of the implementation of the established business strategies.

Guarantees and Limitations of the Sustainability Village Autonomy Through Rules of Recognition: Indonesia Experiences

This research examines whether the village authority inventory norms regulated in Law Number 6 of 2014 concerning Villages (Village Law). have guaranteed or limited the sustainability of village autonomy. The object of the research is an analysis of village authority inventory arrangements in several districts or cities in Indonesia: Badung Regency, Banyuwangi Regency, Sambas Regency, Sleman Regency, and Sungai Penuh City. The research method is normative research with a statutory and conceptual approach. The study concludes, first, that the village authority regulation model has two sides, on the one hand, it has been regulated in various and different ways both in terms of the type and amount of authority, but on the other hand, village authority is still regulated in a minimalist way. Second, there are still problems in the identification and inventory procedures for the list of village authorities, which have no relevance to the sustainability of village autonomy. The various village authority regulation models are relevant to guarantee the consistency of village autonomy.

Environmental Accounting Disclosures Related to IFRS S1 and IFRS S2 Policies: Evidence on Hospital Companies Listed on the Indonesia Stock Exchange

This study aims to evaluate environmental accounting disclosures related to IFRS S1 and IFRS S2 policies in hospital companies listed on the Indonesia Stock Exchange. The method carried out is qualitative descriptive with an evaluation approach to the company's sustainability report that is published. The results of the study show that the majority of hospital companies have disclosed their environmental costs and sustainability aspects according to IFRS S1 standards because they comply with the rules that apply in Indonesia, namely the Financial Services Authority Regulation Number 51/POJK.03/2017 and The Global Reporting Initiative 2021. However, there are still few companies that disclose aspects of IFRS S2 related to climate because they have not been regulated in the regulations that apply in Indonesia in the publication of company reports. Now, after the issuance of the IFRS S2 standard, the government should adjust the rules related to company reporting. Companies should also be more aware in reporting the climate impact of their business activities.