Analisis Yuridis Kedudukan Badan Pengawas Pasar Modal (Bapepam) Setelah Berlakunya Undang-undang No. 21 Tahun 2011 Tentang Otoritas Jasa Keuangan

ABSTRAK
Badan pengawas pasar modal atau Bapepam melakukan pembinaan,
pengaturan dan pengawasan dalam pasar modal. Lahirnya Undang-undang Otoritas
Jasa Keuangan (OJK) mengambil alih kewenangan dari bapepam tetapi hal tersebut
belum diatus secara jelas. Ada tiga permasalahan dalam menjawab tesis ini yaitu
pertama, apakah latar belakang lahirnya Otoritas Jasa Keuangan dalam Undangundangan No. 21 Tahun 2011 Tentang Otoitas Jasa Keuangan. Kedua, bagaimana
kewenangan Badan Pengawasa Pasar Modal (Bapepam) di pasar modal sebelum
lahirnya Otoritas Jasa Keuangan. Ketiga, bagaimana transformasi kewenangan Badan
pengawas pasar modal (Bapepam) seteah berlakunya Undang-undang No. 21 Tahun
2011 tentang Otoritas Jasa Keuangan.
Penelitian ini meggunakan penelitian yuridis normatif. Data pokok dalam
penelitian adalah data sekunder, yang dikumpulkan dengan teknik studi kepustakan
dan dianalisa secara kualitatif.
Lahirya OJK merupakan amanat Pasal 34 Undang-undang Bank Indonesia
sebagai lembaga independen yang melakukan pengaturan dan pengawasan terhadap
semua sektor jasa keuangan dengan konsep unified supervisory model yang
memisahkan tugas pengaturan dan pengawasan tersebut. Sebelum berlakunya UU
OJK, pengawasan sektor jasa keuangan di pasar modal di lakukan oleh bapepam yang
secara struktural masih di bawah koordinasi Kementerian Keuangan sehingga
kewenangan yang dimiliki masih terbatas dan berdampak pada banyaknya kasus
pasar modal yang tidak dapat terselesaikan. Bapepam membutuhkan independensi

dan memilih bertransisi dan melebur menjadi satu dengan OJK. Disarankan agar
dilakukan harmonisasi antara undnag-undang terkait yaitu perbankan, pasar modal,
lembaga penjamin simpanan (LPS) agar tidak terjadi tumpang tindih kewenangan.
Rancangan UUPM harus segera disahkan, karena bapepam telah melebur ke OJK
sementara UUPM masih mengatur kewenangan Bapepam OJK harus mengeluarkan
peraturan-peraturan menganai kewenangan penyidikan untuk menyelesaikan kasus
pasar modal.

Key word: Kedudukan Bapepam, Transisi Bapepam ke OJK

ABSTRACT
The roles of Capital Market Supervisory Agency (Badan Pengawas Pasar
Modal – Bapepam) are to guide, rule and supervise capital market. The issuance of
Law on Financial Service Authority takes over the authorities of the Capital Market
Supervisory. However, this has not yet been clearly regulated. There are three
questions to be answered in this thesis: First, what is the background of the
establishment of Financial Service Authority in Law Number 21 Year 2011 on
Financial Service Authority? Second, what are the authorities of Capital Market
Supervisory Agency prior to the establishment of Financial Service Authority? Third,
how is the transformation of authorities of Capital Market Supervisory Agency after

the issuance of Law Number 21 Year 2011 on Financial Service Authority? This
research applies a juridical-normative method. Primary data in this research is the
secondary data which was collected through a literature study and analyzed
qualitatively. The establishment of Financial Service Authority is mandated by Article
34 of Law on Bank Indonesia as an independent institution which regulates and
supervises all financial service sectors by applying an unified supervisory model
which separates the regulating and supervising tasks. Prior to the issuance of Law on
Financial Service Authority, financial service sectors in capital market are
supervised by Capital Market Supervisory Agency which is structurally still under the
coordination of Ministry of Finance so that its authorities are still limited and result
in the high number of cases of capital market which cannot be addressed effectively.
Since Capital Market Supervisory Agency needs to be independent, it prefers to
transform and merge into Financial Service Authority. It is suggested that laws
related to banking, capital market, the Deposit Insurance Agency (Lembaga
Penjamin Simpanan – LPS) need to be harmonized to prevent overlapping in their
authorities. Therefore, Draft Bill on UUPM needs to be passed immediately because
Capital Market Supervisory Agency has emerged into Financial Service Authority
while UUPM still regulates the authorities of Capital Market Supervisory Agency.
Financial Service Authority has to make regulations related to investigative
authorities to address cases of capital market properly.

Keywords: Position of Capital Market Supervisory Agency, Transition of Capital
Market Supervisory Agency into Financial Service Authority.