THE ROLE OF FINANCIAL SERVICES AUTHORITIES IN BUY BACK ACTIONS IN MARKETS WITH POTENTIAL CRISIS

Abstract

This research uses a descriptive analytical normative legal research method with a statutory approach.  Data uses primary, secondary and tertiary legal materials collected through literature study and analyzed using normative-qualitative data analysis methods. The results of this research show that the buyback regulations based on the PT UUPT are too general and minimalist so that they require special regulations as implementing regulations, namely Regulation Number POJK Number 3/POJK.04/2020 applies, the application of this OJK Regulation is temporary, only when the market situation tends to fluctuate significantly. Regarding the concept of legal protection for investors, it is not sufficiently regulated in the POJK because it has been comprehensively regulated in OJK Regulation Number: 1/POJK.07/2013 concerning Consumer Protection in the Financial Services Sector. Thus, the form of protection regulated in the POJK is solely for issuers/public companies only