Government regulation in the financial services sector : a comparative perspective

1986 ◽  
Author(s):  
Ho-yan Lee
Keyword(s):  
Financial Services ◽  
Government Regulation ◽  
Comparative Perspective ◽  
Services Sector ◽  
Financial Services Sector

scholarly journals Peran Otoritas Jasa Keuangan Dalam Perlindungan Konsumen Electronic Banking Pada PT. Bank Rakyat Indonesia (Persero) Tbk. Cabang Sigli

2019 ◽  
Vol 3 (3) ◽  
pp. 459-468
Author(s):  
Nazaruddin Nazaruddin
Keyword(s):  
Dispute Resolution ◽  
Empirical Research ◽  
Financial Services ◽  
Government Regulation ◽  
Services Sector ◽  
Financial Services Sector ◽  
Banking Service ◽  
Article 9 ◽  
The People ◽  
The Subject

Pasal 9 huruf c Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan (selanjutnya disebut UU OJK) menyatakan bahwa untuk melaksanakan tugas pengawasan OJK, mempunyai wewenang melakukan pengawasan, pemeriksaan, penyidikan, perlindungan konsumen, dan tindakan lain terhadap lembaga jasa keuangan, pelaku, dan/atau penunjang kegiatan jasa keuangan, sebagaimana dimaksud dalam peraturan perundang-undangan di sektor jasa keuangan. Pasal 28 huruf a UU OJK menyatakan bahwa untuk perlindungan konsumen dan masyarakat, OJK berwenang melakukan tindakan pencegahan kerugian konsumen dan masyarakat, salah satunya memberikan informasi dan edukasi kepada masyarakat atas karakteristik sektor jasa keuangan, layanan, dan produknya. Namun pada kenyataannya, pelaksanaan edukasi yang dilakukan oleh pihak perbankan tersebut tentu saja berada di bawah pengawasan OJK, sehingga secara tidak langsung OJK pun bertanggung jawab terhadap risiko penggunaan produk e-banking yang dapat merugikan konsumen. Jenis penelitian yang digunakan dalam penelitian ini adalah penelitian yuridis empiris yaitu jenis penelitian yang meneliti dan menelaah efektivitas suatu peraturan perundang-undangan. Hasil penelitian menujukkan Tanggung Jawab OJK terhadap konsumen yang mengalami kerugian akibat penggunaan layanan e-banking  adalah melakukan pendampingan bagi konsumen dan sebagai fasilitator dalam rangka melakukan gugatan ganti kerugian terhadap bank dengan jalan Eksternal Dispute Resolution, baik melalui litigasi maupun non litigasi.The Government Regulation No. 21 of 2011 Article 9 (c) regarding the Financial Services Authority (hereinafter referred to as UU OJK) states that in order to carry out the supervision other task to the financial services instituition the subject and/or the supporting financial services activities, as referred to the regulation about financial services activity. Article 28 (a) of UU OJK also states that in protection of consumers and people, OJK authorized to act in preventing costumer and people loss by providing information as well as education for the people regarding the characteristic of the financial services sector, the services and the products. In fact, however, the execution of the educating process done by the bank is under the supervision of OJK so OJK is indirectly responsible for the risk of e-banking products usage that harm consumers. This type of research used in this research is juridical empirical research that examines the types of research and study the effectiveness of laws. The result of the result indicated that the responsibility of OJK to the consumer who suffered losses by the e-banking service is by providing assistance and act as a facilitator in pursuing a lawsuit to get compensation from the bank by external dispute resolution, both by litigation and non-litigation.

scholarly journals Implikasi Yuridis Peraturan pemerintah tentang Pungutan Otoritas Jasa Keuangan Terhadap Notaris Pemegang Surat Tanda Terdaftar yang tidak pernah Berkegiatan di Pasar Modal

2019 ◽  
Vol 4 (1) ◽  
pp. 150
Author(s):  
Ratna Ayu Puspitasari ◽  
Imam Koeswahyono ◽  
Titik Soeryati Soekesi
Keyword(s):  
Capital Market ◽  
Financial Services ◽  
Research Method ◽  
Government Regulation ◽  
The State ◽  
Services Sector ◽  
Financial Services Sector ◽  
Legal Implications ◽  
Legal Force ◽  
The Capital Market

This paper aims to describe the authority of the Financial Services Authority (OJK) in conducting supervision and regulation of the financial services sector, and the juridical implications of Government Regulation Number 11 of 2014 concerning OJK Levy for capital market notaries registered with Registered Letters (STTD) who are not active in the capital market. The research method used in this paper is a normative juridical. The results of the study indicate that the OJK has the authority to levy notaries. Legal implications arising from Government Regulation Number 11 of 2014 concerning Financial Services Authority Levies for notaries who have STTD but do not engage in capital market activities becomes the state’s receivables. Payments will be made by the state receivable committee, with a forced letter that has the same legal force as the Grosse deed.

Protection of Customers for Management of Digital Banking Services (Study at PT. BRI Unit Boyolali)

2020 ◽  
Vol 3 (2) ◽  
pp. 170
Author(s):  
Herdian Ayu Andreana Beru Tarigan ◽  
Darminto Hartono Paulus
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Banking Industry ◽  
Service Innovation ◽  
Quality Of Services ◽  
Legal Research ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector

<p>Increasing competition in the Indonesian banking industry has encouraged many banks to improve the quality of services to customers by utilizing information technology developments. Service innovation in the use of information technology encourages banks to enter the era of digital banking services. However, the development of digital banking services also increases the risks faced by banks. The purpose of this study is to provide an overview of the implementation of digital banking services and customer protection for risks from digital banking services. The method used in this study is an empirical legal research method. The results of this study indicate that the implementation of digital banking services is regulated by OJK Regulation No.12/POJK.03/2018. The existence of this OJK Regulation is expected by banks as providers of digital banking services to always prioritize risk management in the use of information technology. In addition, this study also shows the existence of 2 types of customer protection for the use of digital banking services, namely preventive protection in the form of legislation related to customer protection in the financial services sector and repressive protection in the form of bank accountability for complaints from customers using digital banking services.</p>

scholarly journals The Interplay between Board Characteristics, Financial Performance, and Risk Management Disclosure in the Financial Services Sector: New Empirical Evidence from Europe

2021 ◽  
Vol 14 (2) ◽  
pp. 79
Author(s):  
Gratiela Georgiana Noja ◽  
Eleftherios Thalassinos ◽  
Mirela Cristea ◽  
Irina Maria Grecu
Keyword(s):  
Risk Management ◽  
Financial Performance ◽  
Financial Services ◽  
Structural Equation ◽  
Supervisory Board ◽  
Fiscal Year ◽  
Services Sector ◽  
Board Characteristics ◽  
Financial Services Sector ◽  
Thomson Reuters

This paper empirically evidences the role played by board characteristics (skills, diversity, structure, independence) in supporting risk management disclosure and shaping the financial performance of European companies operating in the financial services sector. We exploit data selected from Thomson Reuters Eikon database in 2020 for the last fiscal year 2019 (FY0) on a longitudinal sample of 144 companies with the head offices in Europe (25 countries). Following an original empirical approach based on two modern financial econometric techniques, namely structural equation modelling (SEM) and network analysis through Gaussian graphical models (GGMs), the research endeavor outlines the decisive importance of an optimal board size, enhanced management skills, upward gender diversity (encompassed by women participation on board management), and structure (mainly a two-tier type, one management board, and a distinctive supervisory board) as fundamentals of risk management strategies, leading to improved financial achievements and a higher profitability for the analyzed companies.

scholarly journals Sustainability Assurance in Socially-Sensitive Sectors: A Worldwide Analysis of the Financial Services Industry

2018 ◽  
Vol 10 (8) ◽  
pp. 2777 ◽  
Author(s):  
Elies Seguí-Mas ◽  
Fernando Polo-Garrido ◽  
Helena Bollas-Araya
Keyword(s):  
Financial Services ◽  
Sustainability Reporting ◽  
Great Variability ◽  
Financial Services Industry ◽  
Company Size ◽  
Services Sector ◽  
Global Context ◽  
Financial Services Sector ◽  
Environmentally Sensitive ◽  
Services Industry

Sustainability reporting and assurance have considerably increased in the last decades. Among different sectors, ‘sensitive sectors’ attracted the attention of many academics. However, most of research works were focused only on ‘environmentally-sensitive sectors’. Therefore, after the loss of trust caused by the lack of transparency due to the crisis, ‘socially-sensitive sectors’ as financial services sector needs to strengthen users’ confidence in the credibility of their reported activities. The aim of this paper is to assess assurance practices worldwide in one of the main ‘socially-sensitive sectors’: the financial services sector. We study what factors are associated with adoption of assurance and choice of assurance provider, and whether assurance statements differ across providers. Our results reveal that, compared to the global context, companies operating in the financial services sector are more likely to adopt assurance and to choose accountants as assurance providers. Our findings show that adoption of assurance depends on company size. We also found that companies using the financial services sector supplement are more prone to adopt assurance. Our results also evidence that choice of assurance provider depends on the country and listing status Finally, our research shows a great variability in assurance statements across providers.

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