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Selasa, Agustus 1, 2023

The Information Transparency Principle: A Mandate for Securities Issuers and Public Companies

Information transparency ("Transparency") is a principle that is universally applied across the world’s capital markets. Within the context of Indonesia’s regulatory framework, this principle applies to issuers or public companies that sell securities to the public under the framework of Law No. 8 of 1995 on Capital Markets ("Law 8/1995"). In this regard, the Transparency principle has been classified into three categories, specifically: 1) Pre-issuance; 2) During issuance; and 3) Post-issuance.
At its core, the abovementioned Transparency principle requires issuers and public companies to disclose any information relating to their securities that may impact the decision-making of prospective investors, particularly in terms of the prices of said securities. Information that has been disclosed must be made accessible to the public and prospective investors at any given moment through the official website of the Indonesia Stock Exchange (Bursa Efek Indonesia/BEI), as well as through securities trading software owned by the relevant securities companies.
Any violations of the Transparency principle mandate may result in the imposition of various sanctions, ranging from administrative to criminal sanctions, while civil lawsuits may also be filed. In terms of the latter, Law 8/1995 allows any parties that sustain losses resulting from non-compliance with the Transparency principle to file lawsuits, either collectively or individually, against the relevant violators.
For more information on this story, see Hukumonline: “Kewajiban Keterbukaan Informasi Bagi Emiten”.

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Information transparency ("Transparency") is a principle that is universally applied across the world’s capital markets. Within the context of Indonesia’s regulatory framework, this principle applies to issuers or public companies that sell securities to the public under the framework of Law No. 8 of 1995 on Capital Markets ("Law 8/1995"). In this regard, the Transparency principle has been classified into three categories, specifically: 1) Pre-issuance; 2) During issuance; and 3) Post-issuance.
At its core, the abovementioned Transparency principle requires issuers and public companies to disclose any information relating to their securities that may impact the decision-making of prospective investors, particularly in terms of the prices of said securities. Information that has been disclosed must be made accessible to the public and prospective investors at any given moment through the official website of the Indonesia Stock Exchange (Bursa Efek Indonesia/BEI), as well as through securities trading software owned by the relevant securities companies.
Any violations of the Transparency principle mandate may result in the imposition of various sanctions, ranging from administrative to criminal sanctions, while civil lawsuits may also be filed. In terms of the latter, Law 8/1995 allows any parties that sustain losses resulting from non-compliance with the Transparency principle to file lawsuits, either collectively or individually, against the relevant violators.
For more information on this story, see Hukumonline: “Kewajiban Keterbukaan Informasi Bagi Emiten”.

......

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Semua Fitur Paket Standard
Terjemahan Peraturan
Peraturan Konsolidasi
Premium Stories
Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

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Indonesian Legal Brief (ILB)
Daily Updates
Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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