• Daniel Rezeky Marbun Universitas HKBP Nommensen
  • Lesson Sihotang Universitas HKBP Nommensen
  • Debora Universitas HKBP Nommensen


Issuer;, Investor;, Legal Protection;, Principle Of Disclosure


The capital market is a place where sellers and buyers meet to conduct transactions in orderĀ  to obtain capital. Sellers in the capital market are companies that need capital or are called investors, where these sellers will try to sell securities in the capital market. On the other hand, buyers or also called investors are parties who want to buy securities in companies that they think are profitable. Because capital market activities involve public funds in this case investors, special arrangements are needed to protect the interests of the investor community regarding information on securities traded by public companies, because the determination of prices in the capital market is materially influenced by information or facts, information reflects the price of shares to be purchased by investors. What is very mandatory in the capital market is the principle of disclosure, the principle of disclosure is one of the principles that apply universally in the international capital market, the purpose of this principle is to provide certainty and protection for investors. The principle of disclosure is the soul of the capital market and it can be said that the capital market without the principle of disclosure is gambling. The formulation of the problem in this research is What is the principle of disclosure of issuers in conveying information to investors? And What is the legal settlement for investors in obtaining information disclosure regarding shares owned in the capital market? In this study the author uses the normative method. The results of this study are that investors really need information from companies that buy and sell shares in the capital market. Disclosure in the capital market is determined by the availability of information provided by public companies or issuers to investors. Legal protection for investors is preventive and repressive. Where this legal protection relates to provisions that require guidance, education and
supervision as well as sanctions given to violators.