금융감독체계의 개편에 관한 소고 - 21대 국회에 발의된 법안을 중심으로 -

초록

An advanced and efficient financial supervisory governance structure is an institutional arrangement necessary for financial stability, financial soundness, and financial consumer protection. In the present financial supervisory system reorganized in 2008, as the financial policy function and the financial supervisory function were unified into the Financial Services Commission, a government department, resources were concentrated on the financial policy function relatively more, which has been pointed out as a cause for the weakening of the supervisory function. Especially, it is usually an agreed opinion that the underlying cause for the situation of the suspension of the redemption of private equity that has taken place since 2019 is the indiscriminate relaxation of regulations by the Financial Services Commission in 2015. The relaxation of regulations requires appropriate tightening of post-supervision; however, the Financial Services Commission performed the financial policy function and the financial supervisory function simultaneously, and consequently, the relaxation of regulations and post-supervision did not keep a balance, which led to the repetition of the major financial accidents. The beginning of the discussion on the reorganization of the financial supervisory system is the fundamental reflection on the structural vulnerability of the vertical-binary system of the present Financial Services Commission-Financial Supervisory Service. The present malformed binary structure weakened the basic principles of financial supervision, including checks and balances, independence, autonomy, and accountability, mass-producing numerous financial accidents. Accordingly, there was enormous damage to financial consumers, and financial trust and stability deteriorated. Especially, with the suspension of the massive redemption of private equity as a momentum, a discussion on the full-scale reorganization of the governance structure for the 2008-type financial supervisory organization came to the fore again as an issue in the financial sector, and various bills have been proposed at the National Assembly. In the major developed countries, it is a global trend to separate the financial industry policy (the government) and the financial supervisory policy (a private-public organization). It is a rare case in which the bureaucracy performs both industrial policy and supervisory policy as in South Korea (Financial Services Commission) and Japan (Financial Service Agency). Experts have long expressed their opinion that it would be desirable to separate the financial industry policy and the financial supervisory policy. The right financial supervisory system is a shortcut to the development of the financial industry, and the life of the present financial supervisory system has ended. The directions for the desirable financial supervisory system are broadly summarized as follows: (1) Separation of the financial industry policy and the financial supervisory task; (2) Separation of consumer protection organization and installation of International Ombudsman Institute; and (3) Installation of financial stability committee. The reorganization of the financial supervisory system should be supported by specific and individual institutional discussions to secure the basic principles of financial supervision, including independence, professionalism, responsibility, and autonomy. In particular, it is necessary to have detailed discussions on the procedures for the mediation of interest conflicts among the government departments, supervisory agencies, and the relevant agencies, surrounding the financial supervision act and regulations on supervision, request for reconsideration for the decisions of the supreme decision-making body, the Financial Supervisory Commission, and the obligation of cooperation for materials. Concerning the necessity of the reorganization of the financial supervisory system, this study introduces several problems caused by a structural vulnerability in the present financial supervisory organizations and recent cases of financial supervisory failures and explains various issues of the new financial supervisory system, including financial supervisory agencies, focusing on the National Assembly bills recently proposed.

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