PERLINDUNGAN HUKUM TERHADAP INVESTOR KORBAN DALAM PERJANJIAN PROMISSORY NOTE PENERBIT YANG TIDAK BERIZIN

Abstract

This study addresses legal protection for investors regarding promissory note agreements issued by entities lacking valid authorization from Bank Indonesia. While promissory notes serve as finansial instruments to formalizedebt repayment abligations, their existence and validity depend on the issuer’s compliance with regulations issued by the goverment or Bank Indonesia. Relevant legal frameworks include the indonesian civil code ( KUHPerdata), the Indonesia Commercial code ( KUHD) and bank Indonesia Regulation Number 19/9/PBI/2017 concerning the issuance and transaction of commercial paper n the money market. To ensure meaningful serults aligned with the study’s title and research qustions, this research amploys a normative-juridical methood utilizing a statutory approach. Research findings indicate a need to strengthen and refine regulations concerning promissory note, specifically regarding issuance, information disclosure, supervision, and the recorvery of investor losses. Although regulations governing commercial paper a type of promissory not within money market instruments exist, there is a need to evaluate and reform the rules to establish clearer authority for regulators, fund-raising mechanisms, and issuer liabilities, thereby ensuring legal certainty and strengthening legal protections for investors.