글로벌 금융위기 이후 영국의 금융개혁 내용 및우리나라에의 시사점- 양국의 금융감독체계 및 중앙은행제도 개편 논의를중심으로 -
The Contents of England's Financial Regulatory Reform after Global Financial Crisis and its Suggestions to Korea - With a Special Reference to Discussions on the Reorganization of Financial Supervisory System and Central Banking System of Two Countries -
노철우(세명대학교 교수, 법학박사)
10권 2호, 239~290쪽
초록
The main result of the Reform of 1997 Financial Regulatory System inthe United Kingdom was the foundation of a integrated supervisory body. Inother words, the Financial Services Authority (FSA) as a integrated supervisorybody took over the financial supervisory powers from the Bank of England. The Reform of 1997 in the United Kingdom influenced the establishment of theFinancial Supervisory Commission (FSC) and the Financial Supervisory Service(FSS) in Korea in 1998, which undertook the financial supervisory powers fromthe Bank of Korea. Unfortunately the integrated supervision system in UK resulted in failurein the prevention of the global financial crisis in 2008. In July, 2010, HMTreasury of UK published a consultation paper setting out far reaching reformsto the structure of financial regulation in the United Kingdom. After theconsultation, the Chancellor of the Exchequer announced that the FSA would beabolished and the Bank of England took back prudential supervisory powersfrom the FSA. After some proper procedures, the Financial Services Bill werepassed by the Houses of Commons and Lords on December, 2012. The Acttook effect on and after April 1, 2013. Due to the Reform of 2010, the FPC (Financial Policy Committee), the PRA (Prudential Regulatory Authority), and theFCA (Financial Conduct Authority) were founded in exchange for the abolishmentof the FSA. After tardy discussions on the revision of the Bank of Korea Act, the Actwas amended in August, 2011, and the reforming discussions on the Koreanfinancial supervision structure were brought up due to the recent supervisoryfailures in Korea. Especially, since the beginning of 2012 which had presidentialelection in December, there were many animated reforming discussions on thefinancial supervision structure. A lot of scholars have suggested that thefinancial supervision in Korea should be implemented by a public nongovernmentalorganization instead of a governmental organization. But theGovernment sticks to his opinion that the financial supervision which is theexercise of governmental authority should be carried out by a governmentalorganization. The England's Financial Regulatory Reform of 2010 which wasactive, innovative, and prudent reform will be a good model for Korean in thefuture.
Abstract
The main result of the Reform of 1997 Financial Regulatory System inthe United Kingdom was the foundation of a integrated supervisory body. Inother words, the Financial Services Authority (FSA) as a integrated supervisorybody took over the financial supervisory powers from the Bank of England. The Reform of 1997 in the United Kingdom influenced the establishment of theFinancial Supervisory Commission (FSC) and the Financial Supervisory Service(FSS) in Korea in 1998, which undertook the financial supervisory powers fromthe Bank of Korea. Unfortunately the integrated supervision system in UK resulted in failurein the prevention of the global financial crisis in 2008. In July, 2010, HMTreasury of UK published a consultation paper setting out far reaching reformsto the structure of financial regulation in the United Kingdom. After theconsultation, the Chancellor of the Exchequer announced that the FSA would beabolished and the Bank of England took back prudential supervisory powersfrom the FSA. After some proper procedures, the Financial Services Bill werepassed by the Houses of Commons and Lords on December, 2012. The Acttook effect on and after April 1, 2013. Due to the Reform of 2010, the FPC (Financial Policy Committee), the PRA (Prudential Regulatory Authority), and theFCA (Financial Conduct Authority) were founded in exchange for the abolishmentof the FSA. After tardy discussions on the revision of the Bank of Korea Act, the Actwas amended in August, 2011, and the reforming discussions on the Koreanfinancial supervision structure were brought up due to the recent supervisoryfailures in Korea. Especially, since the beginning of 2012 which had presidentialelection in December, there were many animated reforming discussions on thefinancial supervision structure. A lot of scholars have suggested that thefinancial supervision in Korea should be implemented by a public nongovernmentalorganization instead of a governmental organization. But theGovernment sticks to his opinion that the financial supervision which is theexercise of governmental authority should be carried out by a governmentalorganization. The England's Financial Regulatory Reform of 2010 which wasactive, innovative, and prudent reform will be a good model for Korean in thefuture.
- 발행기관:
- 한국금융법학회
- 분류:
- 법학