주가연계증권(ELS)의 불완전판매 방지를 위한 금융소비자보호법 검토

The Financial Supervisory Service conducted an on-site inspection in January 2024 and announced the inspection results and dispute settlement standards in March as Equity Linked Securities products based on the Hang Seng China Enterprises Index caused massive investment losses to domestic financial consumers due to the Hong Kong stock market crisis. As a result of the inspection, it was confirmed that excessive sales goals were set in the sales process, insufficient customer protection management system, poor sales system, and incomplete sales in the individual sales process. Since there have been no cases of sanctions due to public offering sales since the enactment of Act on the Protection of Financial Consumers, so I would like to look at this case and suggested directions for improving the legal system to protect financial consumers in the future. In particular, it was required to examine the behavioral bias of financial consumers in ELS products, strengthen the duty to explain in consideration of the behavior of financial consumers, and include explanations on the rights of financial consumers in the law. In addition, it is necessary to subdivide the principle of suitability for a close analysis of investors' propensity, and in the case of high-risk investment products, it was proposed to provide designated notification services to elderly investors and strengthen the process of confirming product subscription for management employees. Finally, it is necessary to improve Key Performance Indicator, separate sales channels, and activate internal voluntary reporting so that financial companies can prepare their own financial accident prevention system. In order for the same incident not to recur in the future, it will be necessary to analyze the behavioral bias of financial consumers, change the explanatory system of sales staff and explanations and prepare a regulatory system that considers the behavior of financial consumers rather than traditional financial regulatory methods.