Comparative Analysis of Investor Protection between POJK No. 16/2021 and POJK No. 57/2020on Securities Crowdfunding (SCF) in Indonesia
DOI:
https://doi.org/10.37010/postulat.v2i2.1753Keywords:
Securities Crowdfunding, Perlindungan Investor, POJK No. 16/2021, POJK No. 57/2020, Transparansi, Escrow Account, Investasi RitelAbstract
This paper discusses a comparative analysis of investor protection in Securities Crowdfunding (SCF) in Indonesia, specifically between Financial Services Authority Regulation POJK No. 16/2021 and POJK No. 57/2020. With technological advancements driving funding innovation, SCF offers an alternative for investors to participate in project funding with varying risks. POJK No. 16/2021 comes as a revision that aims to strengthen investor protection through stricter transparency and security mechanisms. Through a normative juridical research method, this article evaluates the effectiveness of the provisions stipulated in the two regulations, and examines the challenges faced by retail investors.
The analysis shows that POJK No. 16/2021 provides more comprehensive protection, including the mandatory use of escrow accounts, investment limits for retail investors, and more detailed periodic reporting obligations. Nonetheless, challenges remain, particularly regarding investors' understanding of the risks involved and the implementation of the regulation in the field. This research is expected to contribute to the development of better policies to protect investors in the evolving SCF industry.
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