Research Article
Legal Review of POJK No. 61/POJK.07/2020 Related to Integration of Alternative Dispute Resolution Institutions for Financial Service Sector
@INPROCEEDINGS{10.4108/eai.8-6-2021.2314394, author={Ayup Suran Ningsih and Rofi Wahanisa and Aprila Niravita}, title={Legal Review of POJK No. 61/POJK.07/2020 Related to Integration of Alternative Dispute Resolution Institutions for Financial Service Sector}, proceedings={Proceedings of the 4th International Conference on Indonesian Legal Studies, ICILS 2021, June 8-9 2021, Semarang, Indonesia}, publisher={EAI}, proceedings_a={ICILS}, year={2022}, month={2}, keywords={finance; dispute; alternative; finance service}, doi={10.4108/eai.8-6-2021.2314394} }- Ayup Suran Ningsih
Rofi Wahanisa
Aprila Niravita
Year: 2022
Legal Review of POJK No. 61/POJK.07/2020 Related to Integration of Alternative Dispute Resolution Institutions for Financial Service Sector
ICILS
EAI
DOI: 10.4108/eai.8-6-2021.2314394
Abstract
Nowadays, the method of dispute resolution through the judiciary has received sharp criticism, both from legal theorists. The role and function of the judiciary, experiencing too heavy a burden (overloaded), slow and waste of time, expensive costs and less responsive to public interest or appearance that is too formalistic and too technical. A positive trend can be seen from the increasing recognition of Alternative Dispute Resolution, the Financial Services Authority (OJK) also provides arrangements related to Alternative Dispute Resolution in the Financial Services Sector. POJK p No. 1/POJK.07/2014 concerning Alternative Institutions for Dispute Resolution in the Financial Services Sector stated that the establishment of an Alternative Dispute Resolution Institution in the Financial Services Sector, Existing Complaint mechanisms often fail to reach agreement. 6 (six) LAPS are here to provide fast, cheap, fair, and efficient dispute resolution. In its development, the presence of 6 (six) LAPS was ineffective and inefficient, and resulted in a significant burden of operational institutions. Departing from the input of various parties, the OJK set POJK No. No.61 / POJK.07/2020 Regarding Alternative Dispute Resolutions Institutions for Financial Services Sector (LAPS-SJK). To improve the efficiency of LAPS-SJK for the Financial Services Sector, it is necessary to establish an Integrated Institution which is related to all disputes in the financial service sector.