Issuer default obligation is the most problem that happens in Indonesia capital
market activity, the happens of issuer default obligation made investor’s had been
loss. On the other hand, the happens of issuer default obligation also made the
trade activity in the capital market become disturbed. The absence of strict
penalty in the Act of Capital Market and the minimize of surveillance by
Indonesian Stock Exchange to mitigated the happens of obligation default to
issuer made this problem being often happens. The aim of this research is to
know about the investor’s legal protection on the capital market if the issuer
default obligation and also to know about the role from Indonesian Stock
Exchange if the issuer default obligation. This research using the normative legal
method, where on this research method the researcher will focused in legislation
or literature or document studied which mostly done as secondary data. The
result on this research show if the issuer default obligation then the investor can
propose the postponements of the debt payment obligation issuer in the court, on
the other hand the investor also can finished that problem on the BAPMI
(Indonesian Arbitration of Capital Market) and the investor can be sued the issuer
default obligation to the court.