Agustinus Prajaka Wahyu Baskara

PERAN NEGARA DALAM PERLINDUNGAN INVESTOR MELALUI TRADING HALT DI BURSA EFEK INDONESIA

Introduction

Peran negara dalam perlindungan investor melalui trading halt di bursa efek indonesia. Mengkaji peran negara & perlindungan investor saat trading halt di Bursa Efek Indonesia. Pahami regulasi BEI, hindari panic selling, & amankan investasi Anda.

Abstract

Trading halt adalah penghentian sementara perdagangan suatu saham atau seluruh perdagangan di Bursa Efek Indonesia (BEI), yang dilakukan untuk menjaga keteraturan, kewajaran, dan efisiensi pasar. Penghentian sementara ini juga harus dimengerti dalam konteks memastikan bahwa setiap tindakan yang diambil memiliki landasan hukum yang berlaku dan memberikan pelindungan yang memadai bagi investor. Penelitian ini mengangkat permasalahan terkait bagaimana peran negara dalam trading halt di Bursa Efek Indonesia dan bagaimana pelindungan terhadap investor ketika terjadi trading halt di Bursa Efek Indonesia. Penelitian ini merupakan penelitian yuridis normatif, yaitu mengkaji ketentuan-ketentuan yang berlaku yang berkenaan dengan kebijakan dan mekanisme penghentian perdagangan sementara dan pelindungan investor ketika terjadi penghentian sementara perdagangan. Data yang diperoleh dari penelitian dianalisis secara kualitatif. Hasil penelitian menunjukkan bahwa peran negara dalam trading halt di Bursa Efek Indonesia terwujud dengan dibuatnya beberapa regulasi yaitu Surat Keputusan Direksi BEI Nomor: Kep-00024/BEI/03-2020 tentang Perubahan Panduan Penanganan Kelangsungan Perdagangan di Bursa dalam Kondisi Darurat, Peraturan Nomor II-A tentang Perdagangan Efek Bersifat Ekuitas dan diatur lebih lanjut pada Surat Keputusan Direksi BEI nomor Kep-00002/BEI/04-2025. Pelindungan terhadap investor ketika terjadi trading halt dilakukan dengan memberikan waktu jeda agar investor dapat mencerna informasi secara rasional dan menghindari panic selling.

Review

The article, "PERAN NEGARA DALAM PERLINDUNGAN INVESTOR MELALUI TRADING HALT DI BURSA EFEK INDONESIA," addresses a highly relevant and timely topic concerning financial market stability and investor confidence. By focusing on the role of the state in implementing trading halts at the Indonesia Stock Exchange (BEI), the research aims to unravel the legal and practical dimensions of investor protection during periods of market volatility. The abstract clearly articulates the core problem, investigating both the state's overarching role in these interventions and the specific mechanisms through which investors are safeguarded during such temporary suspensions. This focus on a critical regulatory tool for market integrity positions the study as a valuable contribution to understanding financial law and policy in Indonesia. Methodologically, the study adopts a normative juridical approach, meticulously examining relevant legal provisions and regulations governing trading halts and investor protection within the Indonesian context. The qualitative analysis applied to the data gathered is appropriate for interpreting legal texts and policy frameworks. The key findings reveal that the state's role is concretized through specific regulations, including BEI Board of Directors Decrees Numbers Kep-00024/BEI/03-2020, Peraturan Nomor II-A, and Kep-00002/BEI/04-2025. Crucially, the research identifies that investor protection during trading halts is achieved by providing a "cooling-off" period, allowing investors to process information rationally and mitigate the risk of panic selling. This insight effectively connects the regulatory framework to its intended protective outcome for market participants. Overall, this article makes a significant contribution by systematically outlining the legal foundations and practical implications of trading halts as a state-led investor protection mechanism in Indonesia. The identification of specific regulatory instruments and the articulation of how these provisions aim to protect investors from irrational market behavior demonstrate the thoroughness of the juridical analysis. The study provides a robust legal framework for understanding market interventions and underscores the state's proactive role in maintaining a fair and orderly trading environment, thereby enhancing academic discourse on financial regulation and investor safeguards.

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