금융소비자보호법의 바람직한 제정 방향에 대한 고찰 -통합 금융분쟁조정원(가칭)의 설립을 제안하며-

This article deals and proposes a desirable enactment of ‘Financial Consumer Protection Act’ which is now under consideration by Financial Services Commission(FSC). The study, to begin with, clarifies the concept of ‘financial consumer’, and after reviewing various concepts and scope regarding to ‘financial consumer protection’, it circumscribes the concept and scope of ‘financial consumer protection’ within financial dispute resolution, financial education, and independent advice for financial products. It, especially, opposes to the so-called ‘Twin peaks model’ in which prudential regulation and business conduct regulation are separated. The main proposal of this paper is to establish a ‘Financial Dispute Resolution Institute’ which is in charge of the financial consumer protection tasks at current stage. The Institute, with being separated from Financial Supervisory Service, consolidates the present dispute resolution functions of Financial Supervisory Service, Korea Exchange, Korea Financial Investment Association, and Korea Consumer Agency. The study deals with three critical issues for the function of 'Financial Dispute Resolution Institute' and suggests that first, there be mandatory mediation before going to the court, second, one-side binding effect of mediation decision not be permitted, and last, independent financial advisory function be enhanced. The paper, in the latter section, reviews the FSC's plan for enactment of 'Financial Consumer Protection Act’ and makes some suggestions. First,'Suitability test’ is not appropriate for the loans of banks and Credit Specialized Financial Business Companies. Second, applying 'Adequacy test'to insurance products needs to be reconsidered. Finally, special damage presumption needs to be given to actions caused by violation of suitability test such as violation of duty to explain.