Republic of Indonesia Financial Sector Assessment Program : Implementation of the IOSCO Objectives and Principles of Securities Regulation

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作者：

World Bank

来源地址：

http://hdl.handle.net/10986/27742

关键词：

ACCOUNTING;  ACCOUNTING STANDARDS;  AUCTION;  BANK SUPERVISION;  BANKING LAW;  BANKRUPTCIES;  BANKRUPTCY;  BANKRUPTCY LAW;  BARRIERS TO ENTRY;  BOND;  BOND MARKET;  BROKER;  BROKERAGES;  BROKERS;  CAPITAL MARKET;  CAPITAL MARKET ACTIVITIES;  CAPITAL MARKET LAW;  CAPITAL MARKET REGULATIONS;  CAPITAL MARKETS;  CAPITAL REQUIREMENTS;  CENTRAL BANK;  CENTRAL SECURITIES DEPOSITORY;  CIVIL LAW;  CLEARING HOUSES;  COLLECTIVE INVESTMENT;  COLLECTIVE INVESTMENTS;  COMMERCIAL BANKS;  COMMODITIES;  COMMODITY;  COMPANY LAW;  CONFLICT OF INTEREST;  CONFLICTS OF INTEREST;  CONTINUOUS AUCTION;  CORPORATE BONDS;  CORPORATE DEBT;  CREDIBILITY;  CREDIT RISK;  CROSS-BORDER SECURITIES;  CUSTODIAN BANK;  CUSTODIAN BANKS;  DEBT;  DEBT INSTRUMENTS;  DEFAULT RISK;  DEFAULTS;  DEPOSIT;  DEPOSIT INSURANCE;  DEPOSITOR;  DEPOSITORIES;  DERIVATIVES;  DERIVATIVES EXCHANGE;  DERIVATIVES MARKET;  DISBURSEMENT;  DISPUTE RESOLUTION;  DOMESTIC CAPITAL;  DOMESTIC CAPITAL MARKETS;  DOMESTIC INVESTORS;  DUE DILIGENCE;  ELECTRONIC MARKET;  EMERGING MARKET;  ENFORCEMENT POWERS;  EQUITIES;  EQUITY FUNDS;  EQUITY INDEXES;  EQUITY MARKET;  EQUITY TRADING;  EXPENDITURE;  FINANCE COMPANIES;  FINANCIAL COMPANY;  FINANCIAL CRISIS;  FINANCIAL FUTURES;  FINANCIAL INFORMATION;  FINANCIAL INSTITUTIONS;  FINANCIAL INSTRUMENTS;  FINANCIAL MARKET;  FINANCIAL MARKETS;  FINANCIAL SECTOR;  FINANCIAL STABILITY;  FINANCIAL STATEMENT;  FINANCIAL STATEMENTS;  FINANCIAL SYSTEM;  FOREIGN EXCHANGE;  FOREIGN INVESTORS;  FOREIGN OWNERSHIP;  FRAMEWORK FOR SECURITIES;  FRAUD;  FUND MANAGERS;  FUTURES;  FUTURES CONTRACTS;  FUTURES EXCHANGE;  FUTURES EXCHANGES;  FUTURES MARKETS;  FUTURES] EXCHANGE;  GLOBALIZATION;  GOVERNMENT BONDS;  GOVERNMENT FINANCE;  GOVERNMENT REGULATION;  GOVERNMENT REGULATIONS;  GOVERNMENT SECURITIES;  GOVERNMENT SUPPORT;  GUARANTEE FUND;  INFORMATION SHARING;  INSIDER TRADING;  INSTITUTIONAL INVESTORS;  INSURANCE;  INSURANCE COMPANIES;  INSURANCE CORPORATION;  INTERESTS OF INVESTORS;  INTERNATIONAL ACCOUNTING STANDARDS;  INTERNATIONAL BANK;  INTERNATIONAL COOPERATION;  INTERNATIONAL STANDARDS;  INVESTING;  INVESTMENT CONTRACTS;  INVESTMENT FUNDS;  INVESTMENT VEHICLES;  INVESTOR AWARENESS;  INVESTOR PROTECTION;  ISSUANCE;  JUDICIAL ENFORCEMENT;  JUDICIAL SYSTEM;  JUSTICE SYSTEM;  LEGAL FRAMEWORK;  LEGAL PROTECTION;  LEGAL PROTECTIONS;  LEGAL REFORM;  LEGAL REFORMS;  LEGAL SYSTEM;  LIABILITY;  LIQUIDITY;  LIQUIDITY MANAGEMENT;  LIQUIDITY RISK;  MARKET CONFIDENCE;  MARKET DATA;  MARKET DEVELOPMENT;  MARKET DEVELOPMENTS;  MARKET EXPANSION;  MARKET INTERMEDIARIES;  MARKET INTERMEDIARY;  MARKET PARTICIPANT;  MARKET PARTICIPANTS;  MARKET REGULATOR;  MARKET SECURITIES;  MARKET STRUCTURE;  MARKET TRADING;  MINORITY SHAREHOLDER;  MINORITY SHAREHOLDER PROTECTIONS;  MONETARY FUND;  MONETARY POLICY;  MUTUAL FUND;  MUTUAL FUND INVESTMENT;  MUTUAL FUNDS;  NATIONAL DEVELOPMENT;  NOMINEE ACCOUNTS;  OPEN MARKET;  PENSION;  PENSION FUNDS;  PORTFOLIO;  PORTFOLIOS;  PRIVATE EQUITY;  PRIVATE SECTOR DEVELOPMENT;  PUBLIC INVESTMENT;  PUBLIC OFFERINGS;  RAPID DEVELOPMENT;  REGULATORY AUTHORITIES;  REGULATORY AUTHORITY;  REGULATORY ENVIRONMENT;  REGULATORY FRAMEWORK;  REGULATORY INFRASTRUCTURE;  REGULATORY OVERSIGHT;  REGULATORY SYSTEM;  REGULATORY SYSTEMS;  REMOTE LOCATIONS;  RETURN;  SALE OF SECURITIES;  SECONDARY MARKET;  SECURITIES;  SECURITIES EXCHANGE;  SECURITIES EXCHANGES;  SECURITIES LAW;  SECURITIES LAWS;  SECURITIES MARKETS;  SECURITIES REGISTRATION;  SECURITIES REGULATION;  SECURITIES REGULATOR;  SECURITIES TRANSACTIONS;  SELF-REGULATION;  SETTLEMENT;  SETTLEMENT SYSTEM;  SETTLEMENT SYSTEMS;  SHAREHOLDERS;  SMALL BUSINESSES;  SPOT MARKET;  STOCK EXCHANGE;  STOCK EXCHANGES;  STOCK MARKET;  STOCK MARKET CAPITALIZATION;  STOCKS;  SUPERVISORY AGENCY;  SYSTEMIC RISKS;  TECHNICAL ASSISTANCE;  TRADES;  TRADING;  TRADING PLATFORM;  TRADING SYSTEMS;  TRADING VALUE;  TRADING VOLUME;  TRANSACTION;  TRANSPARENCY;  TREASURY;  TURNOVER;  VALUATION;  WAREHOUSE;  WAREHOUSE RECEIPTS;  WARRANTS;  WORKING CAPITAL;  Report; 

年份：

2010

出版地：

Washington,USA

语种：

English

摘要：

The law and related implementing regulations that constitute the regulatory framework affecting the capital markets in Indonesia are largely consistent with the International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation. Nevertheless this assessment finds that legislative reforms and other actions that are in the process of being implemented to clarify and expand the security regulator's authority and to cure certain self-acknowledged gaps should be accelerated. Further, the assessment concludes that attention must be paid to assure that implementation of the regulatory framework results in a system that reliably detects, deters, and sanctions securities violations and reliably identifies and prevents or mitigates prudential concerns. This may require legal reforms beyond those necessary to reform the specific capital markets law, as discussed more extensively by the separate legal assessor. How significant such further reform will be to enforcement effectiveness will depend in part on the manner in which regulatory enforcement powers and authorities are augmented and enhanced under the capital markets law revision. Capital markets operations are heavily dependent on legal certainty, and in particular reliable application of contract, company, insolvency, and other legal protections.