Act No. 10 Of 2011

Original Language Title: Undang-Undang Nomor 10 Tahun 2011

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Read the untranslated law here: http://peraturan.go.id/inc/view/11e44c4e819698209bc4313231343339.html

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Back COUNTRY SHEET Republic of INDONESIA No. 79, 2011 (Additional explanation in the State Gazette of the Republic of Indonesia Number 5232) legislation of the REPUBLIC of INDONESIA number 10 in 2011 ABOUT the CHANGES to the Act No. 32 of 1997 ABOUT COMMODITY FUTURES TRADING with the GRACE of GOD ALMIGHTY the PRESIDENT of the Republic of INDONESIA, Considering: a. that the unitary State of the Republic of Indonesia is a State of law based on Pancasila and the Constitution of the Republic of Indonesia in 1945, aims to realize a secure nation life layout , orderly, prosperous, and equitable;
b. that in an effort to ensure more legal certainty, justice, transparency and accountability of public service, to support the efforts of improvement and development of the national economy with regard to global trade, as well as in order for commodity futures trading which aims at enhancing the business activities of the commodity can be established on a regular basis, reasonable, efficient, effective, and protects the community from adverse actions as well as providing legal certainty to all parties who perform activities of commodity futures trading , need clearer arrangements in the implementation of commodity futures trading;
c. that some provisions of Act No. 32 of 1997 about commodity futures trading already incompatible with the holding of commodity futures trading so that the necessary changes;
d. that based on considerations as referred to in letter a, letter b, letter c, and the need to establish laws on the changes to the Act No. 32 of 1997 about commodity futures trading;
Remember: 1. Article 20 paragraph (1), article 9, and article 33 of the Constitution of the Republic of Indonesia in 1945;
2. Law Number 32 Year 1997tentang commodity futures trading (State Gazette of the Republic of Indonesia Number 93 in 1997, an additional Sheet of the Republic of Indonesia Number 3720);
Together with the approval of the HOUSE of REPRESENTATIVES of the REPUBLIC of INDONESIA and the PRESIDENT decide: define: the law on CHANGES to the Act No. 32 of 1997 ABOUT COMMODITY FUTURES TRADING.
Article I Some provisions of Act No. 32 of 1997 about commodity futures trading (State Gazette of the Republic of Indonesia Number 93 in 1997, an additional Sheet of the Republic of Indonesia Number 3720) is amended as follows: 1. Article 1 is amended to read as follows: article 1 In this law are: 1. Commodity Futures trading futures trading hereinafter referred is everything to do with the buying and selling of commodities with the withdrawal of Margin and settlement by then based on futures contracts , Sharia, derivatives contracts and/or other derivatives contracts.
2. Commodities are all goods, services, rights and interests of others, and any derivatives of the commodity, which can be traded and became the subject of a futures contract, Sharia, derivatives contracts and/or other derivatives contracts.
3. Commodity Futures trading Watchdog Agency hereinafter called Bappebti is Government agency duty doing construction, arrangement, development and oversight of futures trading.
4. a Futures Exchange is a business entity that organizes and provides system and/or the means to buy and sell Commodity Futures Contract, based on derivatives contracts, and/or other derivatives contracts.
5. A futures contract is a standardized contract form to purchase or sell Commodities with completion then as set forth in the contracts traded on futures exchanges.
6. the contract is a Derivative Contract value and the price depends on the subject Commodity. 7. Islamic derivatives contracts are derivative contracts that comply with Shariah principles.
8. The option is a contract that gives the buyer the right to buy or sell a particular Commodity or futures contract at a rate of price, quantity, and the period of time that has been set in advance by paying a certain amount of premium.
9. the clearing house and the guaranteeing futures that subsequently called Futures Clearing House is a business entity that organizes and provides system and/or the means for the implementation of clearing and guarantee settlement of futures trading.
10. Alternative trading system is a system of trade that concerned with buying and selling derivatives contracts other than Contracts of futures and derivatives contracts, which are conducted outside the Exchange, bilaterally with the withdrawal of Margin registered Futures Clearing House.
11. Organizer of the Alternative trading system is a futures trader who was a member of the Futures Clearing activities of buying and selling derivatives contracts other than Contracts of futures and derivatives contracts, for and on behalf of his own in the Alternative trading system.
12. Participants of the Alternative trading system futures broker that is a member of the Futures Clearing activities of buying and selling derivatives contracts other than Contracts of futures and derivatives contracts, upon the client's mandate in the Alternative trading system.
13. the Parties are those individuals, cooperatives, other business entities, joint ventures, associations, individual, or group of people and/or companies that are organized. 14. Affiliate is: a. the family relationship because marriage and descendants up to the second degree, both horizontally as well as vertically;
b. the relationship between the Party and the officers, directors or Commissioners, of that party;
c. the relationship between the two companies that have one or more Board members or members of the Board of Commissioners;
d. the relationship between the company and the Parties, either directly or indirectly, a controlling or controlled by the company;
e. the relationship between the two corporate-controlled, either directly or indirectly, by the same Party; or f. the relationships between the company and major shareholders.
15. Members of the Futures Exchange is the party that has the right to use the system and/or the means of futures exchanges and the right to Transact Futures, derivatives contracts, and/or other derivatives contracts in accordance with the regulations and the code of conduct of futures exchanges.
16. Members of the clearing house and the guaranteeing futures Futures Clearing Member hereinafter referred to is a member of the Exchange who got the rights to use the system and/or means of Futures Clearing House and got the rights from Futures Clearing House to do the clearing and guarantee in order to obtain a settlement of the contract, Sharia, derivatives contracts and/or other derivatives contracts.
17. a futures trading Brokers hereafter a futures broker is a business entity that performs the activities of buying and selling Commodity Futures Contract, based on derivatives contracts, and/or other derivatives contracts over the customer mandate by attracting some money and/or certain securities as Margin to warrant such transactions.
18. Futures trading Adviser who then called Futures Advisers is the party that gave advice to others regarding the buying and selling of commodities Futures Contracts based on Derivative Contracts, Sharia, and/or other derivatives contracts by accepting rewards.
19. Center for Futures Trading Fund hereinafter referred Futures Fund Center is a container used to gather funds from society to collectively invested in futures contracts and/or commodity that became the subject of a futures contract and/or other instruments governed by regulation Head Bappebti.
20. the Organizer Center for Futures Trading Funds which hereafter Futures Funds Center Managers are parties who do business with regard to gathering together and fund management of Futures Funds Centers for participants invested in futures contracts.
21. Futures Traders, derivatives contracts, and/or other derivatives contracts are hereinafter referred to as futures traders are members of the Exchange are only entitled to Transact Futures, derivatives contracts, and/or other derivatives contracts on the futures exchanges for yourself or group efforts.
22. The customer is the party that Transact Futures, derivatives contracts, and/or other derivatives contracts through accounts maintained by a futures broker.
23. Compensation Fund is a fund that was used to pay compensation to customers who are not members of the Futures Exchange due to injury and/or errors committed by members of the Futures Exchange in his position as a futures broker.
24. The Margin is an amount of money or securities to be placed by the customer on a futures broker, futures broker at the Futures Clearing Member, or a member of a Futures Clearing on Futures Clearing House to guarantee the execution of transactions, forward contracts, derivatives contracts and/or other derivatives contracts.
25. The Minister is the Minister of the organizing Affairs of the Government in the field of trade.
2. The provisions of article 2 is modified to read as follows: article 2 (1) the Minister establishes a common policy in the field of futures trading.
(2) Public Policy referred to in subsection (1) is controlled by a regulation of the Minister.
3. The provisions of article 3 is amended to read as follows: article 3 Commodities that could be made the subject of a futures contract, Sharia, derivatives contracts and/or other derivatives contracts are governed by regulation Head Bappebti.

4. The provisions of article 4 paragraph (1) and paragraph (3) are amended so that article 4 reads as follows: article 4 (1) Arrangement, development, construction, and supervision of the day-to-day activities of the futures trading conducted by Bappebti. (2) Bappebti is below and is responsible to the Minister.
(3) the order and the position of the organization is governed by regulation Bappebti President.
5. The provisions of article 5 is changed to read as follows: article 5 Settings, development, construction, and supervision as referred to in article 4 paragraph (1), carried out with the purpose of: a. embody an orderly futures trading activities, reasonable, efficient, effective, and transparent as well as in an atmosphere of healthy competition; b. protect the interests of all parties in the futures trading; and c. embodies the futures trading activities as a means of price risk management and transparent price formation.
6. The provisions of article 6 is amended to read as follows: article 6 to carry out the provisions as referred to in article 4 and article 5, Bappebti authorities: a. to make technical guidelines regarding the mechanism of futures trading;

b. giving: 1. business license to the Futures Exchange, clearing house for futures, Futures, Futures Advisers, and Fund Centre Manager Futures; 2. approval of the opening of the Branch Office of a futures broker;
3. izinkepada individual people to become Deputy futures broker, Futures Advisers, Representatives and representatives of the Central Manager of futures Funds; 4. a certificate of registration to the futures traders;
5. approval to domestic futures broker to transmit the customer's domestic mandate to foreign futures exchanges;
6. consent to the bank upon the recommendation of Bank Indonesia to hold customer funds, compensation fund, and the guarantee fund relating to the transactions of futures contracts, derivatives contracts, and/or other derivatives contracts as well as for the establishment of a Center for Futures Funds;
7. consent to the Futures Exchange to perform the activities of the Organization of the physical commodity markets are organized;
8. consent to the Futures Clearing House to perform clearing and guarantee settlement of transaction in the physical commodities market is organized; and 9. approval to futures traders and Futures Brokers to perform the activities of buying and selling derivatives contracts other than Contracts of futures and derivatives contracts of Sharia in organizing Alternative trading system.
c. set the list of securities of the base rights (document of title) to be used in the completion of transactions in futures trading;
d. set the list of Foreign Exchange and derivatives contracts, futures contracts, and/or other derivatives contracts;
e. conducting the examination of parties who have a business license, permit, approval of an individual person, or a certificate of registration;
f. pointing to the other party to perform certain inspection in the framework of the implementation of the authority Bappebti as stated on the letter e;
g. ordered the inspection and investigation against any party that is alleged to breach the terms of this Act and/or regulations implementation;
h. approve the regulations and the code of conduct of futures exchanges and Futures Clearing House, including the changes;
i. give approval against futures contracts, derivatives contracts, and/or other derivatives contracts that will be used as the basis for buy and sell Commodities on the Futures Exchange and/or Alternative trading system, in accordance with the specified requirements;
j. sets out the requirements and procedures for the nomination and lay off for a while a member of the Board of Commissioners and Board of Directors and/or appoint temporary management of futures exchanges and Futures Clearing House, to the election of members of the Board of Commissioners and/or new Board members by the general meeting of shareholders;
k. minimum financial requirements and establishes the obligation of reporting for those who have a business license on the basis of the provisions of this Act and/or regulations implementation;
b. set maximum amount and limits the number of open positions report Futures, derivatives contracts, and/or other derivatives contracts which may be owned or controlled by each party;
m. redirect Futures Exchange and clearing house for futures to take measures it deems necessary, if it is believed will happen naturally not resulting in a State of development of prices on the Futures Exchange and/or implementation of terhambatnya futures contracts, derivatives contracts, and/or other derivatives contracts;
n. require each party to stop and/or improve the advertising or promotional activities that mislead and/or harm related to futures trading and changing as a result of losses arising from the advertising or promotional activities referred to either directly or indirectly;
o. establishes provisions regarding customer funds on the futures broker that is experienced in bankruptcy;
v. examine the objections raised by one party against the decision of the Exchange or clearing house for futures and decide to strengthen or withdraw it;
o. form means the settlement of problems relating to the activities of futures trading;
r. announced the results of the inspection, if deemed necessary, to ensure the implementation of market mechanisms and the obedience of all the parties to the provisions of this Act and/or regulations implementation;
s. performs the necessary actions to prevent the loss of the community as a result of violation of the provisions of this Act and/or regulations implementation; and t. doing the other things that are given based on the provisions of this Act and/or regulations implementation.
7. The provisions of article 10 is amended to read as follows: article 10 Futures Exchange was established with the purpose of organizing transactions, forward contracts, derivatives contracts and/or other derivatives contracts, fair, efficient, effective, and transparent.

8. The provisions of article 12 is amended to read as follows: article 12 (1) the Futures Exchange is a limited liability company founded by a number of business entities limited liability company-shaped one with the other is not affiliated.
(2) the founder of the Futures Exchange as referred to in paragraph (1) may be members of the Futures Exchange.
(3) the holder of a Stock Exchange referred to in subsection (1) consists of those individuals and/or legal entities Indonesia.
(4) the Exchange is managed by experts in the field of futures trading in a professional manner.
9. The provisions of article 13 is amended to read as follows: article 13 delivery of the customer's address to the foreign futures exchanges can only be made to the Futures and derivatives contracts, futures contracts, and/or other derivatives contracts that the list is defined by Bappebti.
10. The provisions of article 3 is amended to read as follows: article 15 (1) of the exchange of the physical commodity transactions can organise that kind arranged as referred to in article 3 after getting approval Bappebti.
(2) the provisions concerning the procedures for the approval referred to in subsection (1) is subject to the rule Head Bappebti.
11. The provisions of article 16 is amended to read as follows: article 16 futures exchanges on duty: a. provide the facilities enough to be invited, Futures transactions, derivatives contracts, and/or other derivatives contracts, fair, efficient, effective, and transparent;
b. the annual budget plan and the use of profits of futures exchanges in accordance with the conditions set out by and reported to Bappebti;
c. conduct market surveillance over any transactions other than Derivative Contracts futures contracts and derivatives contracts, of the organisers and participants of alternative trading systems; and d. develop rules and code of conduct of futures exchanges.
12. The provisions of article 17 is amended to read as follows: article 17 (1) the Exchange mandatory: a. have enough capital to organise the activities of the Futures Exchange with the good;
b. preparing notes and detailed report all activities members of the Futures Exchange transaction relating to futures contracts, derivatives contracts, and/or other derivatives contracts and a mastery of the subject Commodity futures contracts, derivatives contracts, and/or other derivatives contracts;
c. ensure the confidentiality of the information financial position as well as the business activities of the members of the Futures Exchange, unless such information is provided in the framework of the implementation of the provisions of this Act and/or regulations implementation; d. establish compensation fund;

e. have the units of the examiner;
f. document and store properly all the data related to the activities of the Futures Exchange;
g. disseminate information price Futures, derivatives contracts, and/or other derivatives contracts traded;
h. monitor the activities and financial condition of members of the Futures Exchange as well as a clotting takes action or dismissal of members of the Futures Exchange which does not meet the requirements of the financial and reporting, in accordance with the provisions of this Act and/or regulations implementation; and i. oversee the transactions of futures contracts, derivatives contracts, and/or other derivatives contracts.
(2) the command of a unit of the examiner as referred to in paragraph (1) letter e, mandatory reporting directly to the Board of Directors, Board of Commissioners of futures exchanges, and material about Bappebti found, that could affect members of the Futures Exchange and the Futures Exchange are concerned.
(3) compulsory Exchange provides all the reports unit examiner at any time when required by Bappebti.

(4) prior to the regulations and code of conduct Futures Exchange as stipulated in article 4 letter d including changes enacted, mandatory approval Bappebti.
13. The provisions of article 18 is amended to read as follows: article 18 futures exchanges are authorized: a. evaluate and test the qualifications of prospective members, and accept or reject the candidate be a member of the Exchange;
b. set the pricing system and establish the settlement along with the Futures Clearing House;
c. set the minimum financial and reporting requirements for members of the Exchange;
d. conducting surveillance activities as well as the examination of bookkeeping and records of members of the Futures Exchange at regular intervals and sewaktuwaktu required; e. set membership fee and other fees;
f. take any action it deems necessary to secure the transactions of futures contracts, derivatives contracts, and/or other derivatives contracts, including preventing the possibility of manipulation of prices;
g. establish mechanisms of settlement of claims and disputes in relation to transactions of futures contracts, derivatives contracts, and/or other derivatives contracts;
h. take langkahlangkah to guarantee the implementation of the mechanism of Futures transactions, derivatives contracts, and/or other derivatives contracts well and report it to Bappebti; and i. obtain required information from Futures Clearing House relating to transactions carried out by members of the Futures Clearing Merchant transaction, including Organizer and Participant Broker Alternative trading system.
14. The provisions of article 24 is amended to read as follows: article 24 Futures Clearing House was set up with the aim of supporting the creation of Futures transactions, derivatives contracts, and/or other derivatives contracts, fair, efficient, effective, and transparent.
15. The provision of article 25 paragraph (3) modified and added one (1) paragraph, namely, subsection (4) so that the Article 25 reads as follows: article 25 (1) of organizing the Exchange comes with a Futures Clearing House.
(2) a futures clearing house, as referred to in paragraph (1), a business entity is a limited liability company that has shaped obtained business license as a clearing house for futures from Bappebti. (3) the permit referred to in subsection (2), granted to: a. a separate business entity from the futures exchanges and are self-contained; or b. a business entity that is part of the Exchange.
(4) the business entity which organizes the task the acceptance of the registration and the granting of settlement other derivatives contracts from organizers of the Alternative trading system and Alternative Trading System Participants, business license as referred to in paragraph (2) may be given to a single business entity.
16. The provisions of article 26 is amended to read as follows: article 26 Futures Clearing House on duty: a. provide facilities to guarantee the implementation and completion of the transactions, forward contracts, derivatives contracts other derivatives contracts, and/or physical commodity transactions as referred to in article 15;
b. receive the registration and guarantee the completion of any transactions other than Derivative Contracts futures contracts and derivatives contracts of Sharia from the organizers and participants of Broker Alternative trading systems; and c. develop rules and code of conduct Futures Clearing House.

17. The provision of article 27 is amended to read as follows: article 27 (1) a futures clearing house obligated: a. have enough capital to organise an activity with good Futures Clearing House;
b. deposit funds received from the members of Clearing futures in a separate account from the account belonging to the clearing house for futures on the bank that approved by Bappebti;
c. guarantee and complete the transaction Contract futures, derivatives contracts, and/or other derivatives contracts that caused the failure of its members to meet the obligations to the clearing house for futures;
d. ensure the confidentiality of the information financial position as well as the business activities of the Futures Clearing Member, unless such information is provided in the framework of the implementation of the provisions of this Act and/or regulations implementation;
e. document and store all data related to the Futures Clearing House activities; and f. monitor the activities and financial condition of clearing Members of futures as well as take action freezing or dismissal of members of Clearing futures that do not meet the minimum financial requirements and reporting in accordance with the provisions of this Act and/or regulations implementation.
(2) prior to the regulations and code of conduct Futures Clearing House as stipulated in article 26 letter c including changes enacted, mandatory approval Bappebti.
18. The provisions of article 28 is amended to read as follows: article 28 Futures Clearing House is authorized to: a. evaluate and test the qualifications of prospective members, and accept or reject the candidate be a member of a Futures Clearing;
b. setting minimum financial and reporting requirements for Futures Clearing Member;
c. conducting oversight activities as well as the examination of bookkeeping and records of Futures Clearing Members at regular intervals and at any time is required;
d. specify the magnitude of the Margin, forming and managing the funds clearing, as well as establish the guarantee fund clearing, membership fees and other fees;
e. obtain the necessary information from futures exchanges related to transactions carried out by members of Clearing Futures; and f. taking steps to ensure the implementation of the mechanism of clearing and guarantee settlement of Futures transactions, derivatives contracts, other derivatives contracts, and/or physical Commodity transactions properly and report it to Bappebti.
19. Between chapter III and chapter IV is inserted 1 (one) chapters, i.e. Chapter IIIA to read as follows: Chapter IIIA ALTERNATIVE TRADING SYSTEM Article 30A (1) Alternative trading system can only be done by the organizer of the Alternative trading system and alternative trading system Participants one and other is not affiliated and has obtained approval Bappebti.
(2) electronic trading systems used in Alternative trading systems are obliged to meet the requirements that are set more by the rules Head Bappebti.
(3) further Provisions regarding the terms of the agreement, the transaction mechanisms, and the cessation of an activity referred to in subsection (1) and paragraph (2) provided for in Regulation Head Bappebti.
Section 30B (1) organizers of the Alternative trading system and Alternative trading system Participant is obligated to report any transactions other derivatives contracts to futures exchanges in the framework of the supervision of the market.
(2) Alternative Trade System Organizers and participants of the Alternative trading system is obliged to register any other derivatives contracts to transaction clearing house for Futures are guaranteed complete.

20. Chapter IV change the title so that the title of chapter IV reads as follows: Chapter IV FUTURES BROKER, FUTURES ADVISERS, and FUTURES TRADERS. Add one (1) section in chapter IV, namely the third part to read as follows: part three futures trader Article 35A (1) business activities as futures traders can be performed by members of the Futures Exchange, either by an individual or a business entity domiciled inside or outside the country, who have obtained the certificate of registration of Bappebti.
(2) a certificate of registration referred to in subsection (1), is awarded to members of the Futures Exchange which has financial integrity, good business reputation, skills and profession.
Article 35B further Provisions concerning the requirements and procedures for the grant of a certificate of registration of a futures trader as stipulated in article 35A is governed by regulation Head Bappebti.
22. In between chapter V and chapter VI are inserted one Chapter, namely Chapter VA so it reads as follows: Chapter VA FUTURES TRADING INDUSTRY ASSOCIATION Article 44A (1) the Association of futures trading Industry is container-body of law which was established with the aim to fight for the interests of its members and industry development of futures trading.
(2) any Party who has obtained a business license, permit, approval, or a certificate of registration is obliged to be a member of the Association of futures trading Industry.
Article 44B (1) further Provisions regarding the futures trading industry association as referred to in article 44A para (2) subject to the regulations of the Chief Bappebti.
(2) the establishment, maintenance, and/or the dissolution of the futures trading industry association conducted in accordance with the provisions in the articles of Association/Association Bylaws and Regulations.
23. Between paragraph (1) and paragraph (2) Article 49 is inserted 1 (one) verse, namely paragraph (1a), and subsection (2) amended so that Section 49 reads as follows: article 49 (1) each of the parties banned futures trading activities, unless such activities are conducted on the basis of the provisions of this Act and/or regulations implementation.
(1a) every party banned from offering Futures, derivatives contracts, and/or other derivatives contracts with or without promotional activities, recruitment, training, seminar and/or muster funds Margin, guarantee fund, and/or are used interchangeably with it for the purpose of transactions relating to futures trading unless it has permission from Bappebti.

(2) every party is forbidden to transmit the work to Transact Futures, derivatives contracts, and/or other derivatives contracts from a third party, unless such transactions are conducted on the basis of the provisions of this Act and/or regulations implementation.
24. Among the provisions of article 50 paragraph (1) and paragraph (2) is inserted 1 (one) v. i.e. subsection (1a), the provisions of subsection (2) and subsection (4) amended and added two subsection i.e., subsection (5) and paragraph (6) so that the article 50 read as follows: article 50 (1) a futures broker is obligated to know the background, financial circumstances, and knowledge about futures trading from its customers.
(1a) the provisions concerning the financial circumstances of the customer as stipulated in paragraph (1) is subject to the rule Head Bappebti.
(2) a futures broker is obligated to deliver the document Description and Company Documents notice of the existence of the risk and make an agreement with the customer before the corresponding futures broker can receive funds belonging to account holders to trade futures contracts, derivatives contracts, and/or other derivatives contracts.
(3) a futures broker barred from receiving a Customer when the customer knows the mandate concerned: a. has been declared bankrupt by the Court;
b. has been declared in violation of the provisions of this Act and/or regulations implementation by the judiciary or Bappebti; c. the officials or employees: 1. Bappebti, Futures Exchange, Futures Clearing House; or 2. the Treasurer of the agency that serves the public interest, unless the corresponding power of the institution.
(4) a futures broker in giving recommendations to the customer to buy or sell futures contracts, derivatives contracts, and/or other derivatives contracts must be notify when there is a futures broker's interests are concerned.
(5) the customer can do charging, signing, and submitting the documents concerned in the activities of futures trading on an electronic system, a futures broker in accordance with provisions of laws and regulations governing information and electronic transactions.
(6) further Provisions regarding the filling, signing, and submitting documents related to futures trading in the electronic system referred to in subsection (2), subsection (4), and subsection (5) is subject to the rule Head Bappebti.
25. The provision of article 51 paragraph (1) and paragraph (5) was modified so that Article 51 reads as follows: article 51 (1) a futures broker, prior to carrying out transactions, forward contracts, derivatives contracts and/or other derivatives contracts for the customer, the customer is obligated to withdraw from Margin to guarantee such transactions.
(2) the margins referred to in subsection (1), may take the form of money and/or specific securities.
(3) a futures broker is obligated to treat the Margin property of the customer, including additional funds transaction outcome is concerned, as the funds belong to customers.
(4) Funds belonging to account holders as referred to in paragraph (3), compulsory is stored in a separate account from the account of a futures broker at a bank approved by the Bappebti.
(5) the customer-owned Funds can only be drawn from separate accounts, as referred to in paragraph (4), for the payment of commissions and other fees and/or for other purposes on the orders of the customer concerned, in connection with the transaction of a futures contract, Sharia, derivatives contracts and/or other derivatives contracts.
(6) When a futures broker is declared bankrupt, the Fund belongs to the customer in the mastery of futures broker cannot be used to fulfill the obligations of a futures broker to third parties or creditors.
26. The provision of article 52 is amended to read as follows: article 52 (1) prohibited conduct Futures transactions of futures contracts, derivatives contracts, and/or other derivatives contracts for customer account, unless it has received orders for each transaction from the client or its designated in writing to represent the interests of the customer in question.
(2) the execution of futures trading through means of electronic trading system organized by the Futures Exchange and/or Alternative trading systems Providers Traders made directly by the customer.
(3) in case the implementation of trading futures electronically as referred to in paragraph (2) may not be exercised directly by the customer, a futures broker is obligated to carry out transactions on Futures Trading after the command from the client or its designated in writing to represent the interests of the customer in question.
(4) the orders referred to in subsection (3) compulsory note and recorded and retained by futures broker.
(5) in the case of certain Bappebti can stipulate that a futures broker may also conduct transactions over the derivatives contracts, futures contracts, and/or other derivatives contracts for their own account.
(6) a futures broker is obligated to give precedence to Futures transactions, derivatives contracts, and/or other derivatives contracts over its national mandate.
27. The provision of article 53 paragraph (4) is amended so that Article 53 reads as follows: article 53 (1) a futures Advisor obliged to know the background, financial circumstances, and knowledge about the Futures of his clients.
(2) compulsory Futures Adviser delivered the Document Description and Company Risk Notification Document to a client before the two sides tying themselves into an agreement granting services.
(3) a futures Advisor barred from appealing or accepting money and/or certain securities from its clients, except for the payment of services upon the advice given to clients are concerned.
(4) a futures Advisor in provide recommendations to clients to buy or sell futures contracts, derivatives contracts, and/or other derivatives contracts must be notify when there is a futures Advisory interests are concerned.
28. The provision of article 57 is amended to read as follows: article 57 (1) trading in futures contracts, derivatives contracts, and/or other derivatives contracts prohibited any party conducting or attempting to conduct the manipulation through actions: a. controlled much of the material of Commodity Futures Contracts and physically, Sharia, derivatives contracts and/or other derivatives contracts with a buy position either directly or indirectly, at the same time;
b. buying or selling futures contracts, derivatives contracts, and/or other derivatives contracts either directly or indirectly, that may cause as if the trade occurs on or which resulted in the creation of a misleading information regarding the State of the market or the price of futures contracts, derivatives contracts, and/or other derivatives contracts on the futures exchanges; and/or c. create, distribute, and/or have someone else create and/or distribute statements or information that is not correct or misleading with regard to the transactions of futures contracts, derivatives contracts, and/or other derivatives contracts with the intention of taking advantage of the onset of the turmoil on the Stock Futures prices due to tersebarluasnya statements or such information. (2) each of the parties is prohibited: a. Transact Futures, derivatives contracts, and/or other derivatives contracts that have already been set previously are not reasonable;
b. the customer mandate completed two or more opposite to futures contracts, derivatives contracts, and/or other derivatives contracts traded on the Futures Exchange is done outside of the Exchange;
c. directly or indirectly become an opponent of customer transactions, unless: 1. the mandate of the client has been offered on futures exchanges are open; and 2. transactions that occur are reported, recorded, and dikliringkan in the same way as other mandate that traded on the Futures Exchange; or 3. directly or indirectly affect other parties to Transact Futures, derivatives contracts, and/or other derivatives contracts by way of coaxing or give hope of profit outside of naturalness.
29. The provision of article 58 paragraph (1) is amended so that Article 58 reads as follows: article 58 (1) every party has prohibited, either directly or indirectly, the open position up futures contracts, derivatives contracts, and/or other derivatives contracts that exceed the maximum limit.
(2) the maximum Limits as referred to in paragraph (1), established by Bappebti.
30. The provision of article 63 paragraph (2) is amended so that Article 63 reads as follows: article 63 (1) of futures exchanges, clearing house for futures, Futures, Futures Advisers, and Futures Fund compulsory Centers Manager: a. submit a report at regular intervals and/or sewaktuwaktu to Bappebti;
b. make and keep books, records, and/or recording of everything relating to its activities; and c. prepare bookkeeping, record, and/or recording referred to in subparagraph b for may at any time review by Bappebti.
(2) the party who obtained the permission as a futures broker, Futures Advisers, Representatives and the Deputy Manager of Futures Fund Centers as well as parties who have obtained approval, and/or the certificate of registration is obliged to submit a report related to futures trading when requested by Bappebti.
31. The provision of article 68 paragraph (2), subsection (3), and subsection (4) amended so that Article 68 reads as follows: article 68

(1) the particular civil servant Officials in the neighborhood as a special authorized Bappebti investigator to conduct the investigation of criminal acts in the field trade futures based on the provisions of the book of the law of criminal procedure.
(2) the investigating officials of the civil servant referred to in subsection (1), is authorized to: a. receive reports or complaints about the occurrence of an act alleged to constitute the crime in the area of futures trading; b. conducting research over the truth of a report or complaint;
c. research, call, examine, and ask for information as well as evidence from any party that allegedly make or as a witness in criminal acts in the area of futures trading;
d. perform examination of bookkeeping, record, and/or other documents related to criminal acts in the area of futures trading;
e. perform the search against companies suspected of committing criminal acts in the area of futures trading;
f. perform the examination in a particular place which allegedly became a storage area or getting evidence, bookkeeping, record, and/or other documents as well as confiscate objects which can be used as evidence in the criminal acts in the area of futures trading;
g. appealed to banks or other financial institutions to freeze the accounts of those who are suspected of doing or involved criminal acts in the area of futures trading;
h. request the assistance of experts in conducting the proceedings of criminal acts in the area of futures trading; and i stated when the investigation begins and being stopped.
(3) in carrying out the duties of the investigation referred to in subsection (2), Bappebti apply permissions to authorized agencies to obtain information from the bank about the financial circumstances of the suspect at the bank in accordance with the provisions of the Legislation in the field of banking.
(4) the investigating officials of the civil servant referred to in subsection (1) notify the Warrant the commencement of investigation (SPDP) to the public prosecutor.
(5) officials of the civil servant Investigators as intended in paragraph (1), delivering the results penyidikannya to the public prosecutor's Office Police Officials through the Republic of Indonesia by considering the provisions of article 6, article 7, and article 107 of the Act No. 8 of 1981 on the law of criminal procedure.
(6) in carrying out the investigation referred to in subsection (1), may request the assistance of Bappebti law enforcement officers.
32. The provision of article 71 is amended to read as follows: article 71 (1) every party doing futures trading without having a business license as referred to in article 14 paragraph (1), article 25 paragraph (2), article 31, paragraph (1) of article 34 paragraph (1), or article 39 paragraph (1), are convicted with imprisonment the shortest 5 (five) years and the longest 10 (ten) years , and a fine of at least Rp RP 10.000.000.000 (ten billion rupiah) and Rp RP 20.000.000.000 most (twenty billion dollars).
(2) each of the parties who undertake activities without having the requirements, approval of, or the determination referred to in Article 13, article 14, paragraph (2) of article 14 paragraph (3), Article 30A, paragraph (1) Article 30A, paragraph (2) of article 32 or article 36, paragraph (2) are convicted with imprisonment the shortest 5 (five) years and the longest 10 (ten) years, and a fine of at least Rp RP 10.000.000.000 (ten billion rupiah) and Rp most 20.000.000.000 RP (twenty billion dollars).
(3) each of the parties who undertake activities without having a permit referred to in article 31, paragraph (3) of article 34 paragraph (3), or article 39 paragraph (3) or without having a registration certificate as referred to in article 35A subsection (1) are convicted with imprisonment the shortest one (1) year and longest of three (3) years, and/or a fine of at least Rp RP 500.000.000,-(five hundred million rupiah) and Rp most 1.500.000.000 entrance (one billion five hundred million rupiah).
33. The provision of article 73 is amended to read as follows: article 73 Each party make use of any information obtained for personal gain or disclose to the other party as stipulated in article 8, are convicted with imprisonment the shortest one (1) year and longest of three (3) years, and/or a fine of at least Rp RP 500.000.000,-(five hundred million rupiah) and Rp most 1.500.000.000 entrance (one billion five hundred million rupiah).
34. Among the Article 73 and article 74 inserted seven article, namely Article 73A, article 73B, 73 c, 73D Article Article, article 73E, article 73F, and section 73G to read as follows: article 73A (1) any party which does not guarantee the confidentiality of the information financial position as well as the business activities of the members of the Futures Exchange as stipulated in article 5 clause (1) of the letter c, are convicted with imprisonment the shortest one (1) year and the longest four (4) years , and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(2) any party which does not guarantee the confidentiality of data and information about the customer, client, or the participant Centers Funds futures, and reveal the data and information referred to in Article 55, are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
Article 73B (1) any Party who does not deposit funds received from the members of Clearing futures in a separate account from the account belonging to the clearing house for futures on the bank that approved by Bappebti as stipulated in article 27 paragraph (1) letter b, or does not guarantee the confidentiality of the information financial position as well as the Futures Clearing Member business activities referred to in article 27 paragraph (1) letter d , are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(2) any Party who does not keep all the wealth of the Central Funds Futures on the bank as stipulated in article 36 paragraph (3), are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(3) any party which does not store the compensation fund in the accounts which is separate from the account of the Exchange at a bank approved by the Bappebti as stipulated in article 45, paragraph (3) are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
Article 73 c (1) any Party who receives and/or provide loans as well as Futures Funds Centers using funds to buy a certificate of Participation from other Futures Funds Centers as stipulated in article 37, are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(2) each of the parties that hold a wealth of Futures Fund Centers on a bank affiliated with it and/or using the services of a futures broker affiliated with it as referred to in article 43, are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(3) every party that attracts or receive money and/or certain securities from its clients, except for the payment of services upon the advice given to the client in question as referred to in article 53 paragraph (3), are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp most 4.000.000.000 RP (four billion dollars).
Article 73D (1) every party doing futures trading as stipulated in article 49 paragraph (1a), are convicted with imprisonment the shortest 5 (five) years and the longest 10 (ten) years, and a fine of at least Rp RP 10.000.000.000 (ten billion rupiah) and Rp RP 20.000.000.000 most (twenty billion dollars).
(2) any Party who distributes a mandate to conduct Futures transactions, derivatives contracts, and/or other derivatives contracts from third parties which do not conform with the provisions of this Act and/or regulations implementation as stipulated in article 49 paragraph (2), are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp 1,000,000,000 entrance (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(3) any Party who received the commendation of the customer as stipulated in article 50 paragraph (3), are convicted with imprisonment the shortest one (1) year and longest of three (3) years, and/or a fine of at least Rp RP 500.000.000,-(five hundred million rupiah) and Rp RP 1.500.000.000 most (one billion five hundred million rupiah).

(4) any Party who Transact Futures, derivatives contracts, and/or other derivatives contracts for customer account without receiving orders for each transaction from the client or its designated in writing to represent the interests of the customer in question as referred to in article 52 paragraph (1), are convicted with imprisonment the shortest one (1) year and longest of three (3) years , and/or a fine of at least Rp RP 500.000.000,-(five hundred million rupiah) and Rp RP 1.500.000.000 most (one billion five hundred million rupiah).
(5) any Party who has, directly or indirectly, a position open up futures contracts, derivatives contracts, and/or other derivatives contracts that exceed the maximum limit as stipulated in article 58, paragraph (1) are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp most 4.000.000.000 RP (four billion dollars).
Article 73E (1) any party that does not convey the document Description and Company Documents notice of the existence of the risk and make an agreement with the customer before the corresponding futures broker can receive funds belonging to account holders to trade futures contracts, derivatives contracts, and/or other derivatives contracts referred to in article 50 paragraph (2), or do not notify the corresponding futures broker interests as referred to in article 50 paragraph (4) , are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(2) any Party who does not deliver the document Description and Company Risk Notification Document to a client before the two sides tying themselves into an agreement granting the services referred to in Article 53 paragraph (2), or do not notify the corresponding Futures Advisory interests referred to in Article 53 paragraph (4), are convicted with imprisonment the shortest one (1) year and the longest four (4) years , and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(3) any party that does not convey the document Description and Company Risk Notification Document to prospective participants of the Central Funds Futures before the two sides tying themselves in an agreement of the management of Futures Funds Centers as referred to in article 54, paragraph (2) are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp most 4.000.000.000 RP (four billion dollars).
(4) any Party who does not report to Bappebti through Futures Exchange open position when the futures contract reached a certain limit set by Bappebti as stipulated in article 59, are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
(5) any party which did not submit a report as referred to in article 63, paragraph (2) are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp RP 4.000.000.000 most (four billion dollars).
Article 73F (1) any Party who is not treating the Margin property of the customer, including additional funds transaction outcome is concerned, as the funds belong to the customer as stipulated in article 51 paragraph (3), or does not save the Fund belongs to the customer in a separate account from the account of a futures broker at a bank approved by the Bappebti as stipulated in article 51 paragraph (4), or withdraw funds from the account of the customer's property separate , for the payment of commissions and other fees and/or for other purposes without the written orders from the customer concerned, in connection with the transaction of a futures contract, Sharia, derivatives contracts and/or other derivatives contracts as referred to in article 51 paragraph (5), are convicted with imprisonment the shortest one (1) year and not more than 5 (five) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp 5 billion at most b (five billion dollars).
(2) any Party who does not manage any Funds Center for futures in an agency that is separate from the Central Manager of futures Funds in question as referred to in article 54 paragraph (3), or not putting together funds collected from the prospective participants of the Central Funds futures in a separate account from the Account Manager of futures Funds in question Centers on the bank that approved by Bappebti as stipulated in article 54 paragraph (4) , are convicted with imprisonment the shortest one (1) year and not more than 5 (five) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and RP 5 billion to Rp most (five billion dollars).
Article 73G Any of the parties did not report any other derivatives contracts to the transactions of futures exchanges and/or did not register any other derivatives contracts to transaction clearing house for futures as stipulated in article 30B paragraph (1) and paragraph (2), are convicted with imprisonment the shortest one (1) year and the longest four (4) years, and a fine of at least Rp RP 1,000,000,000 (one billion rupiah) and Rp most 4.000.000.000 RP (four billion dollars).

35. The provision of article 76 is removed.
36. KetentuanPasal 77 is amended to read as follows: article 77 (1), Bank Indonesia, Bappebti bodies that oversee the capital markets and financial institutions, and the institutions that handle financial transactions reporting and analysis held a mandatory consultation and/or coordination in accordance with their respective functions in overseeing the activities of the institutions under its scope, related to activities in the area of futures trading.
(2) between 80 and article 81 Article pasted one article, namely Article 80A to read as follows: article 80A (1) the Affairs of the commodity futures trading at the time of the enactment of this legislation has yet to be completed, the settlement is done based on the provisions of the Legislation in the field of commodity futures trading that relieves any Party.
(2) all forms of licensing has been given by Bappebti before the enactment of this legislation and/or simply arranged upon the regulations remain in force and the Chief of Bappebti is subject to the provisions of this Act.
Article II 1. At the time this law comes into force: a. before the establishment of legislation which regulates commodity futures trading about Sharia, then conducting Islamic derivatives contracts are set based on the Shariah Board Fatwa-National Assembly of scholars of Indonesia; and b. all Regulations necessary to implement this legislation must be completed no later than 2 (two) years since its promulgation.

2. This Act comes into force on the date of promulgation.

In order to make everyone aware of it, ordered the enactment of this legislation with its placement in the State Gazette of the Republic of Indonesia.

Ratified in Jakarta on August 8, 2011 PRESIDENT REPUBLIC of INDONESIA Dr. h. SUSILO BAMBANG YUDHOYONO Enacted in Jakarta on August 8, 2011 MINISTER of LAW and HUMAN RIGHTS Republic of INDONESIA, PATRIALIS AKBAR fnFooter ();