Reformulasi Penguatan Status Independensi Otoritas Jasa Keuangan dalam Mewujudkan Stabilitas Sistem Keuangan

Abstract

Independence as an absolute and main requirement for free OJK play a role in realizing healthy SSK. But, it still involves government elements. This normative research discusses the basic foundation of the OJK, independence formulation and independence reformulation in realizing a strong and sturdy SSK. Basic OJK formation is functionally contained in Article 33 paragraph (4) of the Republic of Indonesia Constitution in 1945 as an economic constitution. Conglomation of financial services products, disconnect of information and formation of asymmetrical information, gray area, economy crysis, Bank Century and Antaboga case, trigger the acceleration of OJK formation based on Article 34 of UUBI during 2010-2011. The independence formulation includes the Minister of Finance, ABPN and levies from the financial services industry, according to characteristics and needs for Indonesia. But by placing the Minister of Finance as the Chairperson of the DK Pansel, until the Constitutional Court decision to remove the phrase “Free of other party interference”, raises the question of returning the OJK independence. It is recommended that the government dominance be reduced and focused on the KSSK coordinator, because if the Minister of Finance is too dominant it will cause psychological and political pressure for other DK members. In order for the definition of independence in the OJK Law to be reformulated firmly and broadly, apart from being free from interference from the government, legislature, judiciary, and also other parties such as unscrupulous persons supervised financial services industry, society and individuals. So that the structure of the chairman of the DK selection committee is not permanently occupied by the Minister of Finance. It is necessary to explicitly confirm the institutional status of OJK as a state institution and a public legal entity. Affirmation OJK responsibility for the SSK. The OJK chairman needs a veto right when making a decision. The term of office of DK members is staggered. Self-management of the remaining OJK levy funds as a reserve fund. OJK must have its own investigators, not Polri and PPNS investigators. It is necessary to arrange a conglomeration between financial and non-financial institutions. Confirmation of OJK institutional status explicitly in the constitution