금융투자상품의 새로운 판매채널과 투자자보호를 위한 판매규제 -온라인 판매채널과 태블릿 브랜치를 중심으로- = New sales Channels of Financial Investment Instruments and Investors Protection Regulations -focused on Online sale Channels and Tablet Branch-

다국어 초록 (Multilingual Abstract)

During the recent several years information and communication technology has dramatically developed. This development contributed to introduction of new sales channels which platform internet, mobile, tablets and the like. As the Capital Market Act did not expect online channels and table branches as sales channels, there can be blank in investors protection rules applicable to theses new channels. On the other hand, investors protection rules of the capital Act could conflict other laws providing for new sales channels. Contrary to manufacture centered sales channels online sales channels are considered open channels to all the financial product manufacture companies. Under the Capital Market Act, most regulations on sales for investors protection are applicable only to recommended sales. Online channels without personal contact would not fall under recommended sales. Thus, the problem is raised whether or not sales regulations of the capital Market Act shall apply to online sales channels. Tablet branches are meant a type of sales in which employees of financial companies visit and recommend investors/customers using tablets. This type of sales will fall under definition of door to door sales under the Act on Door to Door Sales, etc. The problem is that a customer is allowed to withdraw his/her offer within 14 days after entering a contract. Considering the investment risk which is the essential nature of financial investment instruments, it would not be proper to apply the Door to Door Act to financial investment instruments, Also it could be against legislation system appropriateness meaning that norm structure and contents should not be in conflict or contradicted among legislations, It is suggested that application of the Door to Door act needs to be explicitly excluded in case of financial investment instruments as in the cases of the U, S, and Japan.