개편된 금융감독기구의 문제점과 개선 방향 (Legal Review on a Reshuffled Financial Supervisory Organization)

서지정보

· 발행기관 : 한국금융법학회
· 수록지 정보 : 금융법연구 / 5권 / 1호 / 113 ~ 139페이지
· 저자명 : 고동원

초록

On February 29, 2008, a new revised law on a financial supervisory
organization was enacted as one of measures for the government organization
reshuffle by the launch of a new government in February 2008. One of key
measures was to consolidate financial policy function (which had been conducted
by the former Ministry of Finance and Economy) and financial supervision
function (which had been performed by the Financial Supervisory Commission)
and to establish the new Financial Services Commission (the “FSC”). However,
this consolidation plan was severely attacked by the civil movement groups as
well as many reputable academic scholars. This consolidation of financial policy
and financial supervision by one government authority may lead to the possibility
of power concentration and inefficient financial supervision function. This new
FSC may be also deeply influenced by the government and so be not highly
likely to engage in financial supervisory role independently. In addition, the FSC
will find it difficult to recruit highly financial specialized staff and employees since
it is a government organization. In particular, the staff organization to the FSC, a
secretariat, may have a possibility to expand its business into on-site examination
on and sanctions against financial institutions in terms of legal aspect, in which
case, financial supervision and examinations would be performed by government
organizations and so might give negative effects on the financial system and infrastructure.
To rectify these problems, a separation between financial policy function
and financial supervision function need to be taken as soon as possible, and it is
necessary to convert a financial supervisory organization into an independent nongovernment
institution. This trend is more persuasive taking into account the
cases of other countries, particularly financially advanced countries. It is also
believed that this measure would be in line with the global standard in financial
supervision and contribute to the enhancement and upgrade of the financial
institution and system.

영어초록

On February 29, 2008, a new revised law on a financial supervisory
organization was enacted as one of measures for the government organization
reshuffle by the launch of a new government in February 2008. One of key
measures was to consolidate financial policy function (which had been conducted
by the former Ministry of Finance and Economy) and financial supervision
function (which had been performed by the Financial Supervisory Commission)
and to establish the new Financial Services Commission (the “FSC”). However,
this consolidation plan was severely attacked by the civil movement groups as
well as many reputable academic scholars. This consolidation of financial policy
and financial supervision by one government authority may lead to the possibility
of power concentration and inefficient financial supervision function. This new
FSC may be also deeply influenced by the government and so be not highly
likely to engage in financial supervisory role independently. In addition, the FSC
will find it difficult to recruit highly financial specialized staff and employees since
it is a government organization. In particular, the staff organization to the FSC, a
secretariat, may have a possibility to expand its business into on-site examination
on and sanctions against financial institutions in terms of legal aspect, in which
case, financial supervision and examinations would be performed by government
organizations and so might give negative effects on the financial system and infrastructure.
To rectify these problems, a separation between financial policy function
and financial supervision function need to be taken as soon as possible, and it is
necessary to convert a financial supervisory organization into an independent nongovernment
institution. This trend is more persuasive taking into account the
cases of other countries, particularly financially advanced countries. It is also
believed that this measure would be in line with the global standard in financial
supervision and contribute to the enhancement and upgrade of the financial
institution and system.

참고자료

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