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The Founding of Bapepam
When the capital market was reactivated in 1976, Capital
Market Executive Agency (Bapepam) was established.
According to the Presidential Decree No.52/1976, the
Agency had functions to:
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Evaluate
whether the companies that are to sell their
shares through capital market have complied with
the requirements and are sound and fit;
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Organize an
effective and efficient capital market;
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Extensively
supervise the development of Issuers.
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Bapepam is led by a
Chairman assigned by President and is responsible to the
Minister of Finance.
The End of Dualism
At the beginning, besides as an organizer, Bapepam was
also a supervisor. However this doubled task of Bapepam
was eliminated in 1990 with the issuance of Presidential
Decree No.53/1990 and Minister of Finance Decree
No.1548/1990.
The issuance of these Decrees indicated the new era for
the capital market development. The doubled function of
Bapepam was eliminated, so that this agency can focus its
task on the supervision on capital market.
With this function, Bapepam can move to the aim for
creating an orderly, fair, and efficient capital market
and to protect the interest of public and investors.
Compared to the main task of the Securities Exchange
Commission (SEC) in the United States, this task is
almost similar. SEC is responsible for guiding the fully
disclosure of capital market to the public and to protect
the interest of public from the mal-practices in capital
market.
> History
> Old Order Period
> New Order Period
> The Chairmen of Bapepam
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