국제 증권시장에서의 증권감독기관 간 정보교환제도에 관한 연구- 우리나라와 미국의 제도를 중심으로 -

The financial markets have recently become international because of technological advances. In such global financial markets, securities regulators and other governmental agencies need to secure assistance from other countries to combat cross-border securities fraud. Thus, international cooperation is necessary in international securities enforcement. The U.S. Securities and Exchange Commission (SEC) recognized that international cooperation is important to securities enforcement in global financial markets. It then obtained the legal authority to provide assistance with foreign regulators in securities investigations, and based on that authority, it has provided broad assistance to other foreign securities regulators. In practice, the SEC usually use international networks for information sharing, such as memoranda of understanding. In South Korea, the Financial Investment Services and Capital Markets Act allows the Korean Financial Services Commission to exchange information with the supervisory agency of financial investment business in a foreign country. This article discusses international cooperation system, and then it examines legal authority to provide assistance with foreign regulators in South Korea and memoranda of understanding for information sharing. Finally, this article provides recommendations for more effective cooperation.