증권시장의 안정화 및 투명화를 위한 공매도제도의 검토 - EU⋅독일의 제도를 중심으로 -

The Share number of short selling traded in the first half year of 2015 is 147.75 million and the amount of that is 35,851.9 billion won, This number and amount have grown 46.5%, 35.9% than the number and amount of last year. As the this effect, we can know the next fact that the number and amount of short selling glows each yaer constantly, However, about this short selling, a CEO said to us that the abuse of the short selling system leaded to a lot of damages in his company. Of course, the Financial Services commission and korea Exchange as self-control organ make desperate efforts for the prevention of abuse of shor selling system. However, A individual and corporate did not trusted on and made a complaint against the above two organ. Besides, they have tendency to solve on that problems on their own. Therefore, at this thesis, I will inspire on the present condition and the problem of regulation on short selling. As the next step, I will consider on the legal system of EU and German from the view of the stabilization and transparency of securities investment market, As the last, I will suggest on the improvement method by the comparison between the our country and foreign legal system. As the result, I think we need to review on the legal system as improvement method such as naked short selling system, notification and disclosure system, the power of financial supervisory agency, naked credit defaut swap system etc.