현행 금융소비자보호법상 금융상품의 설명의무에 대한 소고

Abstract

The issue of protecting financial consumers came after the 2007 U.S. subprime mortgage crisis and the 2008 bankruptcy of Lehman Brothers. Interest in financial protection has increased in Korea due to the bad lonas related project financing of savings banks in the 2010s, the Knock-in-knock-out crisis caused by the sale of derivatives to avoid currency losses, and the recent Derivative Linked Fund (DLF) cases. Accordingly, the Act on the Protection of Financial Consumers was enacted as Act No. 17112 on March 24, 2020 and will be enforced on March 25, 2021, a year later. Furthermore, the draft of enforcement ordinance of the same law was announced on October 28, 2020. In this paper, I would like to review the explanation duty of the financial goods vendor in the newly enacted Financial Consumer Act. So to speak in the concrete, I would like to study on in chapter 2, the legislative examples at home and abroad about the explanation duty of the financial goods and in chapter 3, the details factors of the explanation duty of the financial goods in the current law on the protect the financial consumer and the draft of the enforcement ordinance. In addition, in Chapter 4, I intends to present problems and improvement measures based on above investigation results. As a result of the review, there is a need for improvement in the following points. First, it is deemed necessary to expand the parties to the explanation duty. Second, although the specialized financial consumer is excluded from the party of the explanation duty, given the emergence and complexity of various financial goods, it is also necessary to acknowledge some of the duty to explain them. Third, it is necessary to expand the implementation requirements of the explanation duty. Fourth, it is necessary to establish minimum standards for the degree of understanding that varies from financial consumer to financial consumer. Finally, it is necessary to introduce a punitive damages system.