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Upon the Transposition of European Directive No. (UE) 2020/1828 of 25/11/2020, whose new rules will apply from 25/6/2023, each EU Member State will be required to have at least one collective action, responding to the limit Its minimum requirements, aimed at protecting the collective interests of consumers, The directive called it the representative action, can be bringing against any professional who breaches his obligations, by organizations he calls qualified entities, provided they are designated in advance by member states. And that representative action can be domestic, as it can be cross-border. However, the main weakness of the directive is that it sets unified and binding criteria for all Member States to designate qualified entities for the purpose of bringing cross-border representative actions, and In contrast leaves those countries free to set criteria for designating qualified entities for the the purpose of bringing national representative action, in a way that leads to a lack of coordination between Member States, and to increase the risk of forum shopping. Therefore, This study is content to shed light on this particular problem, and on the solutions that some propose to address it. [ABSTRACT FROM AUTHOR]

Investment is one of the factors driving economic growth in realizing economic equality and eradicating poverty. Economic Activities Investment plays a role in the development of companies or projects with the aim of obtaining profit sharing. The investment currently discussed in this study is a stock investment in the capital market. The growth of investors in the Indonesian capital market is considered quite good but is still relatively lagging behind other countries. One strategy to increase economic activity in the capital market sector is to utilize stock influencers. This study uses a literature study technique in collecting data in which the authors collect information related to legal reviews of the role of stock influencers in Indonesia. The formulation of the problem in this study focuses on (1) the influence of stock influencers on the number of investors, (2) prohibitions in the capital market industry, and (3) the role of stock influencers in terms of the Capital Market Law. The conclusion explains that stock Influencers provide information about stock investment well so that it can increase the number of investors, but requires a persuasive and educational approach to Influencers in order to know the risks and impacts as a whole and how to educate the public to invest properly. Then explained that the prohibition on the capital market and the role of stock influencers according to the Capital Market Law have not been explicitly regulated so it must be noted that influencers are not investment advisors and cannot be investment advisors, Influencers are not capital market supporting profession, Information submitted by influencers must heed Article 79 of the Capital Market Law, Influencer behaviour is viewed from actions that are prohibited in the capital market sector according to the provisions of articles 90-96 of the Capital Market Law.