scholarly journals IMPLEMENTASI GUGATAN SEDERHANA DALAM LITIGASI DI PASAR MODAL SEBAGAI UPAYA PERLINDUNGAN KONSUMEN (INVESTOR) PASAR MODAL INDONESIA

2018 ◽  
Vol 4 (1) ◽  
pp. 123
Author(s):  
Ema Rahmawat
Keyword(s):  
Supreme Court ◽  
Capital Market ◽  
Financial Services ◽  
Dispute Settlement ◽  
Court System ◽  
Small Claim ◽  
Advantages And Disadvantages ◽  
Small Claims ◽  
Market Transaction ◽  
Civil Justice System

Capital market sector is one of the financial services which quite dynamic in progress. Capital market transactions have varied characteristics and complexity. In its practices, many factors may motivate legal dispute in capital market in which mostly not settled in litigation way. The investors avoid settle their dispute through litigation mostly because of its formalistic procedure, time consume, and uncertainty of the result because of distrust against court system. The Indonesian Supreme Court has enacted Supreme Court Regulation No. 5 of 2015 concerning Small Claims Procedure as an effort to reform civil justice system which is simplify and expedite. The small claim procedure may offer dispute settlement which simple and quick, however it is limited with the claim value up to Rp200 millions, while mostly capital market transaction has greater value than Rp200 millions. This article will discuss the implementation of the small claims procedure in investor dispute settlement in the capital market. Moreover, this article also elaborates the advantages and disadvantages of small claims procedure in settling investor dispute as a protection to the consumer in capital market.

scholarly journals Putusan Mahkamah Agung Perlindungan Konsumen, Pasca Undang-Undang No. 21 Tahun 2011 Tentang Otoritas Jasa Keuangan

2020 ◽  
Vol 9 (2) ◽  
pp. 366
Author(s):  
A Dwi Rachmanto
Keyword(s):  
Supreme Court ◽  
Consumer Protection ◽  
Financial Services ◽  
Dispute Settlement ◽  
Financial Service ◽  
Point Of View ◽  
Services Sector ◽  
The Supreme Court ◽  
Case Decisions

The majority of civil case decisions specifically consumer protection are closely correlated with the financial services sector. Looking at and studying the verdicts of consumer protection cases contained in the Supreme Court (MA) website, it can be concluded that the consumer protection cases have increased significantly in the last 3 (three) years, between 2013 and 2017, especially after the enactment of Act Number 21 the Year 2011 concerning Financial Fervices Authority. This paper will analyze non-financial service case decisions, at least from the point of view of whether non-financial service case decisions are appropriately handled and understood by Supreme Court judges, BPSK Members, and by disputing parties based on Act Number 9 of 1999 Concerning Consumer Protection. The purpose of writing is to know what has been exactly done by BPSK and the judge and to analyze what is not appropriate normatively. The decision analysis is based on the classification of consumers, business actors, and the authority of the Consumer Dispute Settlement Agency (BPSK). This paper will analyze 14 non-financial services Supreme Court (MA) decisions in the span of time between 2013 and 2017, and use the normative juridical research method. From the results of the verdict research, it appears that the understanding of MA judges, BPSK members, and the parties to the dispute has not fully understood the understanding of consumers, business actors, and the authority of BPSK in handling cases. Mayoritas putusan perkara perdata khusus perlindungan konsumen berkorelasi erat dengan bidang jasa keuangan. Melihat dan mempelajari putusan perkara perlindungan konsumen yang terdapat dalam laman Mahkamah Agung (MA) dapat disimpulkan bahwa perkara perlindungan konsumen mengalami peningkatan signifikan dalam kurun 3 (tiga) tahun terakhir, antara tahun 2013 sampai dengan tahun 2017,  khususnya setelah berlakunya UU Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan. Tulisan ini akan menganalisis putusan perkara non jasa keuangan, setidaknya dari sudut pandang apakah putusan perkara non jasa keuangan telah tepat ditangani dan dipahami oleh hakim MA, Anggota BPSK dan  oleh para pihak yang bersengketa berdasarkan UU Nomor 9 Tahun 1999 Tentang Perlindungan Konsumen. Tujuan penulisan mengetahui apa yang telah tepat dilakukan oleh BPSK dan hakim serta menganalisis apa saja yang tidak tepat secara normatif. Analisis putusan dilakukan berdasarkan klasifikasi konsumen, pelaku usaha, dan kewenangan Badan Penyelesaian Sengketa Konsumen (BPSK). Tulisan ini akan menganalisis 14 putusan MA (MA) non jasa keuangan dalam rentang waktu antara tahun 2013 sampai dengan tahun 2017, dan menggunakan metode penelitian yuridis normatif. Dari hasil penelitian putusan nampak bahwa pemahaman hakim MA, Anggota BPSK dan para pihak yang bersengketa belum sepenuhnya memahami pengertian konsumen, pelaku usaha, dan kewenangan BPSK dalam menangani perkara.

scholarly journals Procedures for Completing Small Claims Lawsuit of Civil Cases in District Court in Indonesia

2020 ◽  
Vol 9 (3) ◽  
pp. 136
Author(s):  
Marjo ◽  
Nanik Rofikoh
Keyword(s):  
Supreme Court ◽  
Dispute Resolution ◽  
District Court ◽  
Small Claim ◽  
Resolution Process ◽  
Dispute Resolution Process ◽  
Small Claims ◽  
The Law ◽  
Civil Cases

The development of legal relations in the economic and other civil sectors in community highly requires a faster and less costly dispute resolution process, especially in small civil disputes. In connection with this matter, Indonesian Supreme Court issued various Supreme Court regulations, including Regulation No. 2 of 2015 concerning Procedures for Completion of Small Claims. The issuance of this regulation was to resolve special civil disputes regarding the acts against the law. In a small claim court lawsuit, it is required that the plaintiff and defendant be in the same jurisdiction. The value of the material suit in a small claim lawsuit is at most IDR 200 million or equal to 13,811 USD. Furthermore, for a small claim examination and verification of a lawsuit, it is carried out in a small manner, where the period of completion is determined a maximum of 25 days from the first trial day to the decision.  

scholarly journals Konsep Small Claim Procedure Untuk Menyelesaikan Perkara Perdata Permohonan (Volunter) Di Pengadilan Agama

JURISDICTIE ◽  
2017 ◽  
Vol 6 (1) ◽  
pp. 37
Author(s):  
Muharrom Ainul Yaqin
Keyword(s):  
Supreme Court ◽  
Small Claim ◽  
Simple Matter ◽  
Small Claims ◽  
Permit Application ◽  
Civil Cases ◽  
Religious Courts

This article aims to formulate the concept of small claims procedure that can be used to check the examination of civil cases in the court petition religion, as well as describe the types of cases that can be checked by using a system of small claims procedure. The concept of small claims procedure can be applied in religious courts, to examine and decide cases petition (volunteer) with consideration of the substance of the case filed is simple. Nevertheless, the judges who hear cases iniharus memeliki experience and proficiency in handling the case of the petition. For the system to be enforced in court, this concept needs to be formulated in the form of Supreme Court Regulation. An application includes a simple matter if it has the value of materials or rights that are simple, the application is simple, and it is possible to be examined in one trial. Based on these criteria, there are eight types of cases that can be checked using a system of small claims procedure are: the permit application mating, pleas guardian adhol, request dispensation mating, pleas prevention marriage, request the establishment of origin of the child, the request istbat marriage, requesting to change the identity of marriage, and request the appointment of a guardian. <br />Artikel ini bertujuan merumuskan konsep small claim procedure yang dapat digunakan untuk memeriksa pemeriksaan perkara perdata permohonan di pengadilan agama, serta mendeskripsikan jenis perkara yang dapat diperiksa dengan menggunakan sistem small claim procedure. Konsep small claim procedure dapat diterapkan di pengadilan agama, untuk memeriksa dan memutus perkara permohonan (volunter) dengan pertimbangan substansi perkara yang diajukan bersifat sederhana. Meskipun demikian, hakim yang memeriksa perkara iniharus memiliki pengalaman dan kecakapan dalam menangani perkara permohonan. Agar sistem ini dapat diberlakukan di pengadilan, konsep ini perlu dirumuskan dalam bentuk Peraturan Mahkamah Agung. Suatu permohonan termasuk perkara yang sederhana jika memiliki nilai materi atau hak yang sederhana, permohonannya sederhana, dan sangat memungkinkan untuk diperiksa dalam satu kali sidang. Berdasarkan kriteria tersebut, ada delapan jenis perkara yang dapat diperiksa menggunakan sistem small claim procedure yaitu: permohonan izin kawin, permohonan wali adhol, permohonan dispensasi kawin, permohonan pencegahan perkawinan, permohonan penetapan asal-usul anak, permohonan istbat nikah, permohonan perubahan identitas nikah, dan permohonan pengangkatan wali.

scholarly journals Implementation of the Small Claims Court in Dispute Case Settlement in Indonesia

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Seno Adhi Wibowo ◽  
Massulthan Rafi Wijaya
Keyword(s):  
Supreme Court ◽  
Dispute Resolution ◽  
Dispute Settlement ◽  
Low Cost ◽  
Judicial Process ◽  
Resolution Process ◽  
The Supreme Court ◽  
Review Procedure ◽  
Small Claims ◽  
Small Claims Court

Dispute settlement through the courts (litigation) is perceived as ineffective and costly. The dispute resolution process through the courts is prolonged and time-consuming due to its very formal and very technical review procedure, high costs of the case, and the likelihood of repeated trials. The number of complaints made against citizens unwilling to deal with the judiciary. The Supreme Court with its authority to address the problems of the courts (litigation), namely by ratifying the 2015 Supreme Court Regulation (Perma) No. 2 concerning the procedures for the settlement of the Small Claims Court, to allow all elements of society to take a new direction of litigation, namely through Small Claims Court a simple, fast and low-cost lawsuit. With this, it hopes that the judicial process in Indonesia will be well underway in the future.

PERDAGANGAN ETHEREUM DI INDODAX EXCHANGE DALAM PERSFEKTIF SYARIAH

2020 ◽  
Vol 3 (2) ◽  
Author(s):  
Muhamad Khoirul Umam
Keyword(s):  
Money Laundering ◽  
Financial Services ◽  
Islamic Law ◽  
Indonesian Government ◽  
Advantages And Disadvantages ◽  
Digital Asset ◽  
Research Questions ◽  
Financial Transactions

In view of Islamic law Ethereum as a digital asset that is traded in cyberspace.The value of cryptocurrency surges and fluctuates, it is influenced by buying and selling demand. Indodax exchange is an official digital asset site in Indonesia that trades more than 40 digital currencies.The purpose of this study is to analyze whether cryptocurrency is worthy of value as money having a certain value, and also seen from the Indonesian government through Bank Indonesia has issued regulation No. 16/8/PBI/2014, which explicitly prohibits the use of bitcoin, Ethereum and altcoin for use in financial transactions in cash. So that raises research questions how the cryptocurrency law in the form of coin ethereum in Islamic law. The results of this study explain ethereum has advantages and disadvantages. Among its advantages is that users can use exchanges or transactions without a third service (bank), and can be traded at merchandise stores.However, ethereum losses are more frequent, such as fluctuating values each time, not listed as commodities, not watched by the Financial Services Authority (OJK), they present elements of gharar (uncertainty) and maysir (gambling) or (betting), which are used for money laundering and purchase of illegal drugs.Keywords: Cryptocurrency, Ethereum, Digital asset

Mega-Regional Trade Agreements: CETA, TTIP, and TiSA

2017 ◽  
Keyword(s):  
International Economic ◽  
Financial Services ◽  
Dispute Settlement ◽  
Economic Relations ◽  
Economic Law ◽  
Legal Perspective ◽  
International Economic Law ◽  
Regional Agreements ◽  
The One ◽  
International Experts

The contributions in this volume examine CETA, TTIP, and TiSA as prime examples of ‘mega-regional’ agreements that are central to a new orientation in international economic law in general and EU external economic relations in particular. While concentrating on CETA, TTIP, and TiSA as the main EU instruments in the worldwide turn to regional and mega-regional agreements, the book places these initiatives in the broader context of other mega-regional projects such as TPP. In the first two chapters, this book examines main motivations for negotiating mega-regional agreements and changing conceptions of international economic law. In nine further contributions, international experts examine sectoral issues such as the trade, investment, and dispute settlement disciplines envisaged in these ‘mega-regional’ agreements. Moreover, the progress made in intellectual property protection, the problems associated with data protection, disciplines on financial services, human rights, labour and environmental standards, issues of transparency and legitimacy, and the relationship between CETA, TTIP, and TiSA on the one hand and EU law on the other are analysed. Finally, four short contributions discuss fundamental questions surrounding these mega-regional agreements from an economic, a political science, and a legal perspective. The last chapter of this volume summarizes principal conclusions presented in the chapters of the book and highlights themes that recur in them.

scholarly journals Connectivity and growth: Financial centres in investment banking networks

2021 ◽  
pp. 0308518X2110263
Author(s):  
Vladimír Pažitka ◽  
Michael Urban ◽  
Dariusz Wójcik
Keyword(s):  
Capital Market ◽  
Financial Services ◽  
Network Connectivity ◽  
Positive Association ◽  
Equity Capital ◽  
Regression Equations ◽  
Network Ties ◽  
Urban Network ◽  
Financial Centre ◽  
Endogenous Regressors

We investigate the effect of urban network connectivity on the growth of financial centres. While existing research recognises the importance of network connectivity to firms, clusters as well as city regions, large-sample empirical evidence is currently scarce, particularly in the context of financial services. We contribute to this debate by studying underwriting of equity and debt securities, which represent some of the core activities of financial centres. We operationalise our analysis using a proprietary dataset collated from Dealogic Equity Capital Market and Debt Capital Market databases covering over 1.7 million interactions of investment banks with issuers across 540 cities globally during the 1993–2016 period. We estimate our regression equations using the system generalised method of moments estimator, which allows us to obtain consistent coefficient estimates on potentially endogenous regressors, including network connectivity variables. We identify a clear pattern of a positive association between network centrality of financial centres and their growth. We distinguish between intracity and intercity network connectivity and find that financial centres with a larger number of intercity network ties and assortative intracity networks grow faster, while intracity network density does not appear to affect financial centre growth. Our results on intercity network ties are broadly consistent with established knowledge of cluster networks. In contrast, our findings on financial centres' intracity networks contradict previous research that suggests that dense and disassortative intracluster networks aid economic performance of clusters.

scholarly journals Consumer Protection and Contingent Charges

2012 ◽  
Vol 50 (2) ◽  
pp. 477-493 ◽  
Author(s):  
Mark Armstrong ◽  
John Vickers
Keyword(s):  
Supreme Court ◽  
Consumer Protection ◽  
Financial Services ◽  
Legal Issues ◽  
Regulatory Intervention

Contingent charges for financial services, such as fees for unauthorized overdrafts, are often controversial. We study the economics of contingent charges in a stylized setting with naive and sophisticated consumers. We contrast situations where the naive benefit from the presence of sophisticated consumers with situations where competition works to subsidize the sophisticated at the expense of the naive, arguably unfairly. The case for regulatory intervention in these situations depends in good part, but not only, on the weight placed on distributional concerns. The economic and legal issues at stake are well illustrated by a case on bank charges recently decided by the U.K. Supreme Court. (JEL D14, D18, G21, G28, L51)

Dispute resolution in the Islamic banking industry of Tanzania: learning from other jurisdictions

2016 ◽  
Vol 9 (1) ◽  
pp. 125-142 ◽  
Author(s):  
Abdul-Nasser H.R. Hikmany ◽  
Umar A. Oseni
Keyword(s):  
Dispute Resolution ◽  
Dispute Settlement ◽  
Banking Industry ◽  
Banking System ◽  
Legal Framework ◽  
Policy Framework ◽  
Islamic Banking ◽  
Court System ◽  
Content Type ◽  
Good Policy

Purpose This paper aims to examine the prospects of a dispute resolution framework for the Islamic banking industry in Tanzania under the existing legal framework. Design/methodology/approach This paper is based on comparative study by drawing significant lessons from other jurisdictions, and argues that to avoid some of the initial drawbacks in the dispute resolution framework for Islamic banking transactions in more advanced jurisdictions like Malaysia and United Kingdom, it is important for Tanzania to get it right from the onset to effectively manage Islamic banking disputes. Findings The study finds that apart from the court system which provides the main avenue for Islamic finance litigation, other processes such as arbitration and mediation which are deemed to be more sustainable could also be developed for effective dispute management. Research limitations/implications The study focuses on Tanzania banking system with comparison to other jurisdictions. Practical implications An increase of Sharī’ah-compliant products in Tanzania has led to the establishment of a number of Islamic banks. This study demonstrates the need for Tanzania to make use and/or make adjustment of its laws for effective dispute settlement of banking-related disputes. Originality/value This study appears to be the first paper to draw significant experiences from other jurisdictions to resolve Islamic banking disputes in Tanzania. It is expected to provide a good policy framework for the stakeholders in the Islamic banking industry in Tanzania.

scholarly journals The Relative Success of WTO Dispute Settlement and What Planet Would the EU Investment Court System Be On? A Rejoinder to AJIL Unbound Comments

AJIL Unbound ◽  
2015 ◽  
Vol 109 ◽  
pp. 316-318
Author(s):  
Joost Pauwelyn
Keyword(s):  
World Trade ◽  
Public Perception ◽  
Dispute Settlement ◽  
Decision Makers ◽  
The Other ◽  
Court System ◽  
Wto Dispute Settlement ◽  
The Many ◽  
Better Than ◽  
The Eu

I am extremely grateful, and humbled, by the wealth of comments received on my AJIL article through this AJIL Unbound Symposium. One of the many points I take away from these reactions is, indeed, that my analysis offers a snapshot and that many of the critiques now leveled against Investor-State Dispute Settlement (ISDS) are, in Catherine Rogers’s words, “effectively recycled versions of criticisms that were originally leveled against the WTO and its decision-makers.” (Freya Baetens makes a similar point.)In this rejoinder, I would only like to make two points. Firstly, many commentators seem to think that in this article I took the normative position that World Trade Organization (WTO) dispute settlement is “better” than ISDS. Although I did point to the current discrepancy in public perception of the respective regimes, I purposefully avoided expressing any personal, normative position on one being “better” than the other (but apparently not explicitly enough).

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