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논문검색은 역시 페이퍼서치

금융법연구검색

Korea Financial Law Association


  • - 주제 : 사회과학분야 > 법학
  • - 성격 : 학술지
  • - 간기: 연3회
  • - 국내 등재 : KCI 등재
  • - 해외 등재 : -
  • - ISSN : 1738-3706
  • - 간행물명 변경 사항 :
논문제목
수록 범위 : 1권 2호 (2004)

발간사(發刊辭)

정찬형
한국금융법학회|금융법연구  1권 2호, 2004 pp. 3-4 ( 총 2 pages)
1,000
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초록보기

금융감독 행정의 현황과 문제

고동원 ( Dong Won Ko )
한국금융법학회|금융법연구  1권 2호, 2004 pp. 3-49 ( 총 47 pages)
12,200
초록보기
Recent problems of a credit card company`s insolvency at the end of 2003 again led to the controversial issue of the need for restructuring the current financial supervisory agency system in Korea because such insolvency is believed to be partly due to the inefficient supervisory system which is currently divided into the Financial Supervisory Commission (the "FSC"), a financial supervisory policy-decision body, and the Financial Supervisory Service (the "FSS"), a financial supervisory execution agency. Thus, this article reviews the several problems of the current financial supervisory system: (i) the overlap of activities and the inefficiency due to expansion of the government official organization under the FSC involved in the process of financial supervisory policy-making; (ii) lack of neutrality or independence of the financial supervisory agencies (e.g. lack of guarantee of tenure of the FSC`s Chairman); (iii) excessive interference with financial supervisory operations by the Ministry of Finance and Economy (the "MOFE"), which has power to enact financial related laws and their enforcement decrees; (iv) the financial regulators`` excess interference with financial institutions`` management autonomy by disregarding market principles; and (v) lack of specialization of financial supervisors`` staffing resources. Based on such analysis of the problems, this article suggests some solutions for improving the financial supervisory system: first, the current divided supervisory system should be consolidated; second, such consolidated body should be operated in the form of non-governmental agency for procuring the independence or neutrality of the regulators and so more efficient supervisory operations; third, certain measures for protecting the neutrality or independence of the financial supervisors should be taken, for example, requirements for consent by the National Assembly in the President`s appointing the head of the regulators, and guarantee of tenure of the Chairman of the FSC; fourth, along with the procuring of the supervisory organization`s independence, the regulators`` accountability should be also emphasized, e.g., requirements for the regulators to submit an annual operation report to the National Assembly and for the disclosure of the minutes of the FSC`s meeting; fifth, the transparency of the detailed financial supervisory rules and regulations should be procured; sixth, the regulators should be empowered for initiating the proposal of the enactments and amendments of financial related laws and enforcement decrees to the MOFE; finally, mostly importantly, enormous efforts should be pursued for enhancing specialization of the personnel involved in financial supervision.

현행 금융감독제도의 문제와 개선방안

김동진 ( Dong Jin Kim )
한국금융법학회|금융법연구  1권 2호, 2004 pp. 51-81 ( 총 31 pages)
7,100
초록보기
For the last few years, there have been a lot of discussions of improvement on financial supervisory institution system. However, we failed to reach an unified conclusion due to selfish dissension among financial supervisory institutions again this year. Considering (i) our existing experiences on adverse effects caused by governmental and/or political control over financial institutions and financial systems, (ii) duplicate and complicated supervisory system under the current laws and regulations and its problems, etc., it would be supported to abolish the current assistance department of the Financial Supervisory Committee ("FSC") and make the FSC an internal organization within the Financial Supervisory Service (" FSS"). In addition to the main issue such as the financial supervisory institution system, several independent finance-related systems such as compliance officer system, pre-filing requirement of Standardized Contracts with the FSS, credit information systems, etc. were investigated, and relevant suggestions were given.

금융감독기구의 독립성과 책임성 확보

김용재 ( Yong Jae Kim )
한국금융법학회|금융법연구  1권 2호, 2004 pp. 83-118 ( 총 36 pages)
7,600
초록보기
Bank regulators and supervisors should have a substantial degree of independence both from the government and the industry in order to fulfill their mandate and contribute to the achievement and preservation of financial stability. In addition, considering the significant role of banking supervision, proper channels of accountability should be established to complement agency independence and make it work. Recently two factors have served to emphasize on the importance of regulatory and supervisory independence (RSI). First, in almost all of the systemic financial crises of the 1990s, either weak and ineffective regulations or regulatory forbearances, largely due to the political interferences in the supervisory process, have been referred as major factors contributing to the weakening of the banks, postponing recognition of the significance of the crisis, and delaying official and effective intervention. Secondly, the discussion of the most appropriate regulatory and supervisory structure, including the organizational structure of banking supervision inside or outside the central bank, has highlighted the importance of RSI. The growing tendency of unified financial sector supervision often involves removing the banking supervision function from the central bank, where it had previously enjoyed a relatively high degree of independence regarding its monetary policy functions. This was also the case in Korea after the IMF bailout of 1997. Korea prior to the 1997 crisis is a representative example of the effects that a lack of independence can have on banking supervision. Commercial banks were under the direct authority of the monetary board (the governing body of the Bank of Korea) and the Office of Banking Supervision. Specialized banks and nonbank financial institutions were under the direct authority of the Ministry of Finance and Economy (MOFE). The MOFE`s supervision of nonbanks was generally recognized as so weak and created conditions for regulatory arbitrage and excessive risk-taking, especially among merchant banks, which was a contributing factor to the 1997 crisis. Furthermore, the supervisors had the authority to waive regulatory requirements, which led to widespread forbearance and which made enforcement nontransparent. In recognition of the weakness of supervision, Korea has reformed its supervisory system to provide it with more autonomy and to eliminate the regulatory and supervisory gaps. However, the reform has proven to be a failure because it does not give any RSI to a new financial supervisor, especially to the Financial Supervisory Service (FSS). This paper aims at searching for any alternatives to the current financial supervisory system which ensures RSI for the FSS. RSI is the goal and task of banking regulation and supervision, thus continuously attaining financial stability in Korea.

EU의 예금보장 및 투자자보상제도 -비교법적 고찰

이준섭 ( Jun Seob Yi )
한국금융법학회|금융법연구  1권 2호, 2004 pp. 123-165 ( 총 43 pages)
11,800
초록보기
EU hat fruher schon die Notwendigkeit der Einlagensicherung und der Anlegerentschadigung als individual Schutz einerseits und Funktionsschutz des Finanzsystems andererseits erkennt. Nach den langjahrigen Disskussionen hat EUKommission die Einlagensicherungsrichtlinie im Jahr 1993 und die Anlegerentschadigungsrichtlinie im Jahr 1997 verabschiedet. Nun sind die beiden Richtlinien schon in alle nationalen Rechten umgesetzt worden. Ihr Ziel is nach den Erwagungsgruden beider Richtlinien es, die Einleger und Anleger im Falle der Zahlungsunfahigkeit sowohl des Kreditinstituts im engeren Sinne des 2. Bankenrechtrichtlinie als auch der Wertpapierfirma im Bereich des Nichtbanksektors zu schutzen und die aufgrund unterschiedlicher Systeme verzerrten Wettbewerbsbedingungen unter den EU-Mitgliedstaaten anzugleichen. Aus diesen Grundlagen sollen sie zugleich auch zur Stabilitat des ganzen Finanzsystems insgesamt beitragen. Daher betreffen beide Richtlinie fast alle Kreditinstituten und Wertpapierhausern einschliesslich des Investmentfonds. Der Kernpunkt der beiden Richtlinien besteht in der Verpflichtung der Mitgliedstaaten, in ihrem Hoheitgebiet fur die Errichtung und amtliche Anerkennung eines oder mehrerer Sicherungssysteme zu sorgen. Daneben auch ist die Zugehorigkeit zu diesen Systemen fur die Kreditinstituten und Wertpapierfirmen obligatorisch. Die Sicherungssysteme mussen tatig werden, sobald Einlagen oder Anlage nicht verfugbar werden. Fur diesen Fall sieht die beide Richtlinie vor, daß die Gesamtheit der Einlagen desselben Einlegers bis zu einem Betrag von 20000 ECU (Euro) abgedeckt wird. Solange der in einem Sicherungsfall auszahlende Betrag unterhalb des Mindestbetrags liegt, kann ein Selbstbehat von hochstens 10% vorgesehen werden. Einlagen als schutzgegenstand im Sinne der Einlagensicherungslichtlinie sind Guthaben, die sich aus auf einem Konto verbliebenen Betragen oder aus Zwischenpositionen im Rahemen von normalen Bankgeschaften ergeben und zuruckzuzahlen sind, sowie Forderungen, die das Kreditinstitut durch Ausstellung einer Urkunde verbrieft hat. Auch das Anlegerentschadigungssystem soll eintreten, wenn eine Wertpapierfirma nicht mehr in der Lage ist, die Gelder zuruckzuzahlen, die sie Anlegern im Zusammenhang mit Wertpapiergeschaften schuldet oder Wertpapiere oder andere Finanzinstrument zuruckzugeben, die Anlegern gehoren und die die Firma fur die Anleger verwahrt ode verwaltet. Hier sind die Rechtfiguren und Regelungsfaktoren des EU Einlagesicherungs- und Anlegerentschadigungssystems entsprechend mit koreanischem Einlagesicherungsrecht auf rechtvergleiche Weise untersucht worden.

RFID를 활용한 금융기관의 담보관리방안(擔保管理方案)

박훤일 ( Whon Il Park )
한국금융법학회|금융법연구  1권 2호, 2004 pp. 167-196 ( 총 30 pages)
7,000
초록보기
As the prudential requirements dominate the daily operation of financial institutions, creditor banks take to reliable security to stave off events of default of borrowers. On the other hand, borrowers would apply for more funds on the improved financial terms based upon the collateral. Against these backdrops, more attention has been directed to new types of security interest. The European Bank for Reconstruction and Development proposed the Model Law on Secured Transactions in 1994, which was devised to support the transition economies in the Eastern and Central Europe. After UNIDROIT established the Convention on International Interests in Mobile Equipment, UNCITRAL finalized the Convention on Assignment in Receivables in International Trade in 2001. The common thing that may be derived from the global trends is manyfold: First, security is necessary for creditors to keep credit risk under control, while borrowers are entitled to better financial terms; Second, enterprises should make most of every kind of assets including movables and account receivables; Third, debtors need to use the collateral under their possession though those assets are granted as security. This kind of security is called as a nonpossessory security right. So a public notice filing is indispensable to show the existence of or to create the security right. For instance, the newly amended Article 9 (Secured Transactions) of the Uniform Commercial Code of the United States purports to include the electronic registration. The RFID tag is a kingpin in today`s ubiquitous computing environment. When RFID tags are attached like bar codes to machinery and equipment so as to provide some useful information, they show the existence any security interest on the collateral through the RFID reader-writer. As a result, movables and specific inventory may be granted as security. It could be realized by establishing or amending some substantive and procedural laws. Also it is assumed that creditor banks are satisfied with these types of collateral. The biggest beneficiaries are small and medium-sized enterprises (SMEs), which have been usually denied secured borrowings. Any machinery and equipment with considerable asset value are eligible for such secured loan. In the Gaeseong Industrial District, RFID might be employed for the long distance surveillance from the South and to prevent unauthorized take-out. In the long run, there must be ever-increasing demand for such new businesses as security guards, inspectors and examiners of second-hand machinery. Most of all, a lot of jobs could be created to make a database of factory goods and to facilitate the transactions of such equipment.

금융관계법령의 최근 제,개정 동향

고동원 , 송현민
한국금융법학회|금융법연구  1권 2호, 2004 pp. 201-228 ( 총 28 pages)
6,800
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