The capital market channels funds as a means of financing and investment. In this research, the author examines the regulation of capital market transparency principle to protect investors from unwanted losses, hence the principle of information disclosure is an obligation for the issuer in the context of a public offering. This research aims to answer the problem formulation, namely how to protect victim investors market manipulation through the principle of information disclosure as the issuer's obligation securities trading at the secondary level market. The author looks at the accuracy of previous decisions in the PT and PN. South Jakarta is mentioned in the indictment The prosecutor was proven to have violated the principle of information disclosure, Article 93 UUPM, jo art 104 UUPM in conjunction with Article 55 of the Criminal Code because the defendant ordered the inflating value of trade receivables of affiliated companies PT. AISA. At the end the author provides a conclusion that even though the decision does not explicitly state the investor's losses complaints, when it is proven that they have violated the UUPM, they should receive appropriate punishment article, without having to wait for the "victim" because the substance of the article's elements is fulfilled. The author uses a normative empirical research method with a descriptive approach legislation, namely Law Number 8 of 1995 with Authority Regulations Financial Services and a combination of legal protection and conceptual approaches case. The research results show that the principles of information disclosure are regulated in Capital Markets Law and POJK. Based on case studies of Supreme Court decisions Number 2736 K/Pid.Sus/2022, the author believes that the decision is not precise The judge acquitted the defendant only because "there were no complaints from investors."