The legal ratio of authority transfer from the capital market supervisory agency to the Financial Services Authority as a bankruptcy petitioner

Wijayanta, Tata; Adistia, Sheva Trisanda; Kurniawan, Wahyudi; Leonardus, Rado Fridsel; Hermawan, Bambang Eryanto

doi:10.22219/ljih.v33i1.36537

Akses terbuka Jurnal

The legal ratio of authority transfer from the capital market supervisory agency to the Financial Services Authority as a bankruptcy petitioner

Legality: Jurnal Ilmiah Hukum · Vol. 33 No. 1 (2025) · hlm. 192–203

DOI: 10.22219/ljih.v33i1.36537
ISSN: 2549-4600, 0854-6509
Terbit: 2025-03-21
Penerbit: Faculty of Law, University of Muhammadiyah Malang
Bahasa: eng
Lisensi: creativecommons.org/licenses/by-sa/4.0

Abstrak

The article aims to analyse the legal ratio or legal reasons behind the transfer of authority from the Capital Market Supervisory Agency to the Financial Services Authority by qualitatively analysing the secondary data and presenting it in descriptive form. Regulation of bankruptcy applications for Securities Companies based on Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations may only be submitted by the Capital Market Supervisory Agency. This is because the Capital Market Supervisory Agency, based on Law Number 25 of 2007 concerning Capital Investment, is considered to understand the situation of Securities Companies. This authority is only given to the Capital Market Supervisory Agency to avoid bankruptcy applications submitted by creditors to securities companies. This is prevented because it could result in the securities company being bankrupted by creditors or shareholders. However, following the promulgation of Law Number 21 of 2011 concerning the Financial Services Authority, this authority was transferred to the Financial Services Authority from the Capital Market Supervisory Agency. The research used a normative research method supported by a statutory approach. This article found that the mechanism for bankruptcy applications for securities companies by the Financial Services Authority. Applications from Securities Companies or Creditors are addressed to the Executive of the Capital Market Supervisory Agency directly or via electronic mail to the Financial Services Authority electronic mail system, as regulated in the Regulation of Financial Services Authority Number 21 of 2022.

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23 penulis · 48 tautan kepenulisan bersama · 12 lintas organisasi

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Universitas Gadjah Mada
Universitas Muhammadiyah Malang
University of Brawijaya
Tashkent State University of Law
Universitas Airlangga
National Central University
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Rekan penulis	Organisasi	Artikel bersama
Alexander Yovie Pratama Yudha	Afiliasi tidak diketahui	4
Budi Hermawan	Afiliasi tidak diketahui	3
Sholahuddin Al-Fatih	Universitas Muhammadiyah Malang	1
Putri Shafarina Thahir	Universitas Muhammadiyah Malang	1
TOJIBOYEV SARVAR ZAFAROVICH	Tashkent State University of Law	1
Ilyas Nuryasin	Universitas Muhammadiyah Malang	1
Tinuk Dwi Cahyani	Universitas Muhammadiyah Malang	1
Nabila Aprilia Rismara	Afiliasi tidak diketahui	1
Farhan Alif Ujilast	Afiliasi tidak diketahui	1
Haniah Ilhami	Universitas Gadjah Mada	1
Destri Budi Nugraheni	Universitas Gadjah Mada	1
Sujayadi Sujayadi	Universitas Airlangga	1
Herliana	Universitas Gadjah Mada	1
Faizin Sulistio	University of Brawijaya	1
Bambang Sugiri	University of Brawijaya	1
Yonatan	University of Brawijaya	1
Sukarmi	University of Brawijaya	1
Ari Hernawan	National Central University	1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) https://ejournal.umm.ac.id/index.php/legality/oai, pertama di-harvest 7 Nov 2026, terakhir terlihat 8 Nov 2026.

Metadata asli (oai_dc)

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	<dc:title xml:lang="en-US">The legal ratio of authority transfer from the capital market supervisory agency to the Financial Services Authority as a bankruptcy petitioner</dc:title>
	<dc:creator>Wijayanta, Tata</dc:creator>
	<dc:creator>Adistia, Sheva Trisanda</dc:creator>
	<dc:creator>Kurniawan, Wahyudi</dc:creator>
	<dc:creator>Leonardus, Rado Fridsel</dc:creator>
	<dc:creator>Hermawan, Bambang Eryanto</dc:creator>
	<dc:subject xml:lang="en-US">Bankruptcy</dc:subject>
	<dc:subject xml:lang="en-US">Capital Market Supervisory Agency</dc:subject>
	<dc:subject xml:lang="en-US">Financial Services Authority</dc:subject>
	<dc:description xml:lang="en-US">The article aims to analyse the legal ratio or legal reasons behind the transfer of authority from the Capital Market Supervisory Agency to the Financial Services Authority by qualitatively analysing the secondary data and presenting it in descriptive form. Regulation of bankruptcy applications for Securities Companies based on Law Number 37 of 2004 concerning Bankruptcy and Suspension of Debt Payment Obligations may only be submitted by the Capital Market Supervisory Agency. This is because the Capital Market Supervisory Agency, based on Law Number 25 of 2007 concerning Capital Investment, is considered to understand the situation of Securities Companies. This authority is only given to the Capital Market Supervisory Agency to avoid bankruptcy applications submitted by creditors to securities companies. This is prevented because it could result in the securities company being bankrupted by creditors or shareholders. However, following the promulgation of Law Number 21 of 2011 concerning the Financial Services Authority, this authority was transferred to the Financial Services Authority from the Capital Market Supervisory Agency. The research used a normative research method supported by a statutory approach. This article found that the mechanism for bankruptcy applications for securities companies by the Financial Services Authority. Applications from Securities Companies or Creditors are addressed to the Executive of the Capital Market Supervisory Agency directly or via electronic mail to the Financial Services Authority electronic mail system, as regulated in the Regulation of Financial Services Authority Number 21 of 2022.</dc:description>
	<dc:publisher xml:lang="en-US">Faculty of Law, University of Muhammadiyah Malang</dc:publisher>
	<dc:date>2025-03-21</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ejournal.umm.ac.id/index.php/legality/article/view/36537</dc:identifier>
	<dc:identifier>10.22219/ljih.v33i1.36537</dc:identifier>
	<dc:source xml:lang="en-US">Legality : Jurnal Ilmiah Hukum; Vol. 33 No. 1 (2025): March; 192-203</dc:source>
	<dc:source>2549-4600</dc:source>
	<dc:source>0854-6509</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://ejournal.umm.ac.id/index.php/legality/article/view/36537/16122</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2025 Tata Wijayanta, Sheva Trisanda Adistia, Wahyudi Kurniawan, Rado Fridsel Leonardus, Bambang Eryanto Hermawan</dc:rights>
	<dc:rights xml:lang="en-US">https://creativecommons.org/licenses/by-sa/4.0</dc:rights>
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