ABSTRAK
Badan pengawas pasar modal atau Bapepam melakukan pembinaan, pengaturan dan pengawasan dalam pasar modal. Lahirnya Undang-undang Otoritas Jasa Keuangan (OJK) mengambil alih kewenangan dari bapepam tetapi hal tersebut belum diatus secara jelas. Ada tiga permasalahan dalam menjawab tesis ini yaitu pertama, apakah latar belakang lahirnya Otoritas Jasa Keuangan dalam Undang-undangan No. 21 Tahun 2011 Tentang Otoitas Jasa Keuangan. Kedua, bagaimana kewenangan Badan Pengawasa Pasar Modal (Bapepam) di pasar modal sebelum lahirnya Otoritas Jasa Keuangan. Ketiga, bagaimana transformasi kewenangan Badan pengawas pasar modal (Bapepam) seteah berlakunya Undang-undang No. 21 Tahun 2011 tentang Otoritas Jasa Keuangan.
Penelitian ini meggunakan penelitian yuridis normatif. Data pokok dalam penelitian adalah data sekunder, yang dikumpulkan dengan teknik studi kepustakan dan dianalisa secara kualitatif.
Lahirya OJK merupakan amanat Pasal 34 Undang-undang Bank Indonesia sebagai lembaga independen yang melakukan pengaturan dan pengawasan terhadap semua sektor jasa keuangan dengan konsep unified supervisory model yang memisahkan tugas pengaturan dan pengawasan tersebut. Sebelum berlakunya UU OJK, pengawasan sektor jasa keuangan di pasar modal di lakukan oleh bapepam yang secara struktural masih di bawah koordinasi Kementerian Keuangan sehingga kewenangan yang dimiliki masih terbatas dan berdampak pada banyaknya kasus pasar modal yang tidak dapat terselesaikan. Bapepam membutuhkan independensi dan memilih bertransisi dan melebur menjadi satu dengan OJK. Disarankan agar dilakukan harmonisasi antara undnag-undang terkait yaitu perbankan, pasar modal, lembaga penjamin simpanan (LPS) agar tidak terjadi tumpang tindih kewenangan. Rancangan UUPM harus segera disahkan, karena bapepam telah melebur ke OJK sementara UUPM masih mengatur kewenangan Bapepam OJK harus mengeluarkan peraturan-peraturan menganai kewenangan penyidikan untuk menyelesaikan kasus pasar modal.
ABSTRACT
The roles of Capital Market Supervisory Agency (Badan Pengawas Pasar Modal – Bapepam) are to guide, rule and supervise capital market. The issuance of Law on Financial Service Authority takes over the authorities of the Capital Market Supervisory. However, this has not yet been clearly regulated. There are three questions to be answered in this thesis: First, what is the background of the establishment of Financial Service Authority in Law Number 21 Year 2011 on Financial Service Authority? Second, what are the authorities of Capital Market Supervisory Agency prior to the establishment of Financial Service Authority? Third, how is the transformation of authorities of Capital Market Supervisory Agency after the issuance of Law Number 21 Year 2011 on Financial Service Authority? This research applies a juridical-normative method. Primary data in this research is the secondary data which was collected through a literature study and analyzed qualitatively. The establishment of Financial Service Authority is mandated by Article 34 of Law on Bank Indonesia as an independent institution which regulates and supervises all financial service sectors by applying an unified supervisory model which separates the regulating and supervising tasks. Prior to the issuance of Law on Financial Service Authority, financial service sectors in capital market are supervised by Capital Market Supervisory Agency which is structurally still under the coordination of Ministry of Finance so that its authorities are still limited and result in the high number of cases of capital market which cannot be addressed effectively. Since Capital Market Supervisory Agency needs to be independent, it prefers to transform and merge into Financial Service Authority. It is suggested that laws related to banking, capital market, the Deposit Insurance Agency (Lembaga Penjamin Simpanan – LPS) need to be harmonized to prevent overlapping in their authorities. Therefore, Draft Bill on UUPM needs to be passed immediately because Capital Market Supervisory Agency has emerged into Financial Service Authority while UUPM still regulates the authorities of Capital Market Supervisory Agency. Financial Service Authority has to make regulations related to investigative authorities to address cases of capital market properly.
