Supervision of Securities Companies Repurchase Agreement (Repo) Transactions in The Capital Market

Abstract

Repuchase Agreement Transaction (Repo) is an evolving capital market product and many transacted by market participants. This study aims to determine the legal construction (concept) of Stock Repo transaction, the process of implementation, and supervision of Repo transactions in the capital market. This qualitative and normative legal research focuses on the study of literature and analyze in depth the legal conception of Repo transactions, facts on the market in the form of cases in the capital markets sector, particularly related to the implementation of the Repo transaction in the Indonesian capital market. Repo transaction is a contract of sale or purchase securities with agreements to buy or sell back at a time and a predetermined price, set forth in the agreement. The main elements in the Repo transaction is the price of securities and securities Repo objects. Otoritas Jasa Keuangan has issued regulations Repo guidelines for the Institute of Financial Services that is Peraturan Otoritas Jasa Keuangan Nomor 9/POJK.04/2015 Tentang Pedoman Transaksi Repurchase Agreement Bagi Lembaga Jasa Keuangan, adopted the standard agreement Global Market Repurchase Agreement (GMRA) adapted to the conditions in Indonesia. The things that had not been organized by Repo guideline is becoming more evident. In this thesis discussed about the mechanism of Repo Transactions, the provisions of the Repo Agreement, and legal issues that may arise in Repo transaction, which is expected to prevent violation in the future. It also discussed the efforts undertaken by the Otoritas Jasa Keuangan with preventive and repressive efforts to avoid losses for the parties.