PERLINDUNGAN INVESTOR TERHADAP TINDAK PIDANA INSIDER TRADER DI TRANSAKSI PASAR MODAL

Transactions in the capital market must take place fairly, transparently and adhere to theprinciples of integrity in order to provide optimal benefits for all parties involved. This researchaims to analyze investor protection against criminal acts of insider traders who trap localbrokers in market transactions. capital. The method used is normative law (normative juridical).The data source is statutory regulations relating to criminal law, especially regarding theapplication of Insider Trading in the Capital Market. The data analysis used in this research isqualitative analysis. The results of the research in this research are that Article 95-97 in LawNumber 8 of 1995 concerning Capital Markets in Indonesia regulates investor protectionagainst insider trading, which is defined in Article 95 as stock trading based on materialinformation that has not been announced to the public. Article 96 prohibits this practice andapplies to holders of material information with special access to that information, includingcompany officers and majority shareholders. Article 97 explains who is considered the holderof material information. Articles 98-99 regulate sanctions such as large fines, prison sentences,and a ban on participating in the capital market for insider trading, with the aim of preventinglosses for the capital market and investors. These articles also emphasize the importance ofsupervision by the Financial Services Authority (OJK) in maintaining the integrity andopenness of the capital market through investigations and cooperation with other legalagencies.Keywords: Investor Protection, Inside Trader, Local Broker, Capital Market