장외파생상품의 투자자보호에 관한 고찰

다국어 초록 (Multilingual Abstract)

Derivatives are one of the ways that the firm may enter into specialized financial contracts that fix theirs costs or prices. Many different types of futures, options, swaps and other derivatives are traded by firms, banks, professional investors and individuals. Derivatives are divided into “"exchange-traded derivatives”"and “"over-the-counter derivatives”". The “"over-the-counter derivatives (OTC derivatives)”"means the derivatives that are traded directly between counterparties without the infrastructure of an exchange. The size of the OTC derivatives markets is many times larger than the exchange-traded derivatives markets. The OTC derivatives offer many benefits to our economy, they also hold the potential for being misused. OTC derivatives are individually and privately negotiated by the contractual counterparties. So there are the following regulations in the Financial Investment Services and Capital Markets Act. Duty to Explain : A financial investment business entity shall, whenever it makes an investment recommendation to an ordinary investor, explain the details of the financial investment instrument, the risks contingent upon the investment, and other matters specified by Presidential Decree with such sufficiency as to allow the ordinary investor to understand them. Principle of suitability : No financial investment business entity shall recommend an ordinary investor to make an investment, if the investment is deemed unsuitable for the investor in light of the investment purpose, status of property, experience in investment, etc. of the investor. The protection method about the OTC derivative investors is insufficient. The financial investment business explain the danger, worst result, change of the business partner, economic condition, solution of the dispute etc. The financial investment business explain considering the customer’"s character. The clearing house becomes the seller to every buyer on the exchange and the buyer to every seller on the exchange through to it of all transactions that are dealt on the exchange. Through the novation of transactions to the clearing house, the counterparty risk that the exchange members would otherwise have to each other is eliminated. Our country will introduce the clearing house this year.

목차 (Table of Contents)

• Ⅰ. 서론
• Ⅱ. 자본시장법상 장외파생상품의 투자자 보호제도
• Ⅲ. 설명의무의 문제점과 개선방안
• Ⅳ. 청산소의 도입
• Ⅴ. 결론
• 참고문헌
• Abstract

참고문헌 (Reference)

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4 성민섭, "키코(KIKO)통화옵션계약의 해지가능성에 대한 소고 - 서울중앙지방법원 2008카합3816 효력정지가처분 결정의 판시내용을 중심으로 -" 대한변호사협회 (392) : 140-159, 2009

5 이희종, "키코(KIKO)통화옵션계약에 관한 법적 고찰" 한국경영법률학회 20 (20): 417-442, 2010

6 이상제, "키코 파생상품의 이해" 한국금융연구원 2009

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8 이원일, "장외파생상품 CCP 서비스 도입 방향" 한국거래소 2009

9 최영렬, "장외신용파생상품에 대한 미국의 규제 동향과 시사점" 한국증권법학회 6 (6): 185-224, 2005

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11 장근영, "자본시장법 주석서" 박영사 2009

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13 김인규, "신용파생상품시장의 현황과 과제" 한국은행 2008

14 이금호, "신용파생금융거래의 종류 및 법적 문제" 한국증권법학회 9 (9): 185-225, 2008

15 남길남, "세계 신용파생상품시장의 혁신과 시사점" 자본시장연구원 2008

16 박선종, "법률가를 위한 파생금융상품의 이해" 한국증권법학회 9 (9): 467-490, 2008

17 구정한, "금융회사의 파생상품 운용에 따른 리스크 관리" 한국금융연구원 2009

18 성희활, "금융투자상품의 투자권유규제에서 적합성원칙과 설명의무" 대한변호사협회 (389) : 56-79, 2009

19 함귀용, "금융상품의 법률관계" 한국금융연구원 2003

20 신상기, "국제금융시장" 무역경영사 2003

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25 Andrew Kasapis, "Mastering Credit Derivatives" Prentice Hall 2008

26 Robert W. Kolb, "Futures, Options and Swaps" ckwell Publishing 2007

27 Keith Cuthbertson, "Financial engineering: derivatives and risk management" John Wiley & Sons Ltd 2001

28 David A. Dubofsky, "Derivatives: valuation and risk management" Oxford University Press 2003

29 John-Peter Castagnino, "Derivatives: the key principles" Oxford University Press 2009

30 Alfred Steinherr, "Derivatives The Wild Beast of Finance" John Wiley & Sons 1998

31 Gunter Meissner, "Credit Derivatives: Application, Pricing, and Risk Management" Blackwell Pub 2005

32 금융투자협회, "2009년 장외파생상품 시장동향 Report"