PERLINDUNGAN HUKUM DALAM EQUITY CROWDFUNDING TERHADAP PEMODAL (Perbandingan Indonesia dan Amerika Serikat)

Abstract

This study aims to further analyze the violation of the Disclosure Principle by PT. Santara Daya Inspiratama. The objective is to compare the sanctions imposed on violators in Indonesia and the United States, as well as to analyze the differences in legal protection for investors in both countries. The case addressed in this issue concerns data manipulation by PT. Santara Daya Inspiratama, which was proven to violate Article 40 paragraphs (8) and (4) of POJK Number 57/PJOK.04/2020. This company misused funds received from investors and failed to officially publish them, resulting in losses for investors. This study uses a normative legal method with a juridical approach, which allows for a clearer understanding and information regarding the events that occurred, as well as an analysis of positive law and relevant legal principles. Equity crowdfunding in the United States and Indonesia has significant differences in regulations and investment restrictions. In the United States, regulations are strictly enforced by the SEC and FINRA, with investment limits ranging from $2,000 to $100,000. In Indonesia, regulations are enforced by the Financial Services Authority (OJK) and the Capital Markets Law, with lower investment limits ranging from IDR 1 million to IDR 5 billion.