2008년 10월 금융지주회사법 개정안의 자회사

Recently, a number of countries including Korea have been difficulty in financial crisis originated from the United States. Even though other countries have tried to overcome this crisis by means of several measures, these measures do not work any more. In this sense, our authority released the amendment of the financial holding company act (hereinafter FHCA) in order to control the financial crisis in October, 2008. Among of several legal issues of the amendment of the FHCA, this article focuses on and reviews subsidiaries of financial holding companies (hereinafter FHC), such as bank holding companies (hereinafter BHC), insurance holding companies (hereinafter IHC) and financial investment holding companies (hereinafter FIHC) based upon those of the United States and European Union (hereinafter EU). Under the FHCA, otherwise BHC cannot own non-financial companies as its subsidiaries, IHC and FIHC can do. In the United States, BHC and FHC cannot control non-financial companies as their subsidiaries. However, IHC and investment bank holding companies (hereinafter IBHC) like FIHC can own non-financial companies as their subsidiaries. In EU, every FHC can own non-financial companies as its subsidiary. This amendment of the FHCA is reasonable, but needs to be supplemented by several actions, such as corporate opportunity doctrine (hereinafter COD), source of strength doctrine (hereinafter SSD) and cross-guaranteed provisions (hereinafter CGP) which are rested on responsibilities of FHC and its subsidiaries because most of them of the amendment of the FHCA focuses on the preliminary regulations.