The Role of Notaries as a Supporting Profession for Capital Markets in Companies That Will Conduct an Initial Public Offering (IPO) on the Indonesia Stock Exchange

Abstract

Abstract. This study aims to determine and analyze the Role of Notaries as Capital Market Supporters in Companies that will conduct Initial Public Offerings (IPOs) on the Indonesia Stock Exchange and the obstacles to the Role of Notaries as Capital Market Supporters in Companies that will conduct Initial Public Offerings (IPOs) on the Indonesia Stock Exchange. The approach method in this study is the sociological legal approach method. The research specifications used are descriptive analytical research. The type of data uses primary and secondary data. Data collection using the interview method. The data analysis method used is qualitative descriptive analysis. The results of the study show the Role of notaries as capital market supporters in companies that will conduct initial public offerings. In this capacity, notaries play a role in helping to compile and ratify important legal documents, such as changes to the company's articles of association, minutes of the General Meeting of Shareholders (GMS), and other agreements related to the initial public offering process. The obstacles faced by notaries in ensuring the validity and legal certainty of stock transactions in the capital market in the initial public offering process such as Regulatory Inconsistency, Lack of Specific Guidelines for Notaries in the IPO Process, Inaccurate or Incomplete Data and Documents, Issuers' Ignorance of Capital Market Regulations, Rapid Regulatory Changes, Complexity of Capital Market Transactions, Limited Access to Digital Information and Inconsistencies Between National Law and International Practices. These obstacles can hamper the administrative process, create legal risks, and affect the trust of capital market players. To overcome these challenges, solutions are needed such as better data validation, education for issuers, improving notary competency, collaboration with related parties, development of an integrated digital system, and alignment of national regulations with international standards. Thus, notaries can carry out their role optimally to create legal validity and certainty in capital market transactions.Keywords: Initial; Notary; Public; Role.