The Financial Services Authority (OJK) has issued a regulation on a disgorgement fund to protect investors from illegal conduct as stakeholders stress the importance of proper fund management and education for retail investors. The OJK Regulation (POJK) No. 65/2020 stipulates that the authority will force individuals, firms, associations or organized groups who have received gains through illegal or unethical business transactions in the capital market to pay the proceeds back to investors and pay penalties. The regulation on disgorgement, which is the legally mandated repayment of gains received through ill-means imposed by courts on wrongdoers, will become effective in July. Such a protection scheme for investors has also been implemented by the Securities and Exchange Commission (SEC) in the United States. “The implementation of the disgorgement fund is an effort ne...