책무구조도와 내부통제 관리의무 ―영국의 고위경영진 제도를 중심으로―
Study on the Internal Control of Financial Companies ―Focusing on UK’s Senior Managers Regime ―
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초록
책무구조도에 기반한 금융회사의 내부통제 관리체계를 도입하는 개정 금융회사의 지배구조에 관한 법률(이하 “금융사지배구조법”)이 2023년 12월 8일 국회 본회의를 통과하여 2024년 7월 3일부터 시행되었다. 개정 금융사지배구조법은 금융회사 고위경영진의 개인적 책임성을 강화한 영국의 고위경영진 및 인증제도(Senior Managers & Certification Regime: SM&CR)를 참고한 방안이다. 이 글에서는 영국에서의 제도 도입 배경, 제도의 목적, 규제 내용, 감독당국의 집행 방식, 내부통제 관리의무에 대한 영국 법원의 판결 등을 소개하고 이를 통해 우리나라의 제도 시행에 있어 몇 가지 시사점을 제언하고자 한다. 영국 SM&CR의 핵심은 금융회사의 최고 의사결정권자들에게 내부통제에 관한 책무를 부여하고 소관 영역에서 발생한 위법행위에 대한 법적 책임을 지도록 하여 궁극적으로 조직의 내부통제 문화를 구축하고자 하는 것이다. 책무구조도(Responsibilities Map)라는 금융규제법상 도구를 이용하여 고위경영진 간의 책무 분배를 사전에 명확히 하며, 감독당국의 정보비대칭을 해소하여 금융회사의 위험을 사전예방적으로 감독할 수 있도록 한다. 영국에서 SM&CR은 고위경영자에 대한 사후적 제재보다는 감독당국과 금융회사의 연계를 강화하여 위험을 사전에 파악하고, 적절한 시점에 감독당국이 적극적으로 개입하는 수단으로 이용되고 있다. 우리나라에서 본 제도를 통해 금융회사의 내부통제 문화를 정착하기 위해서는 금융사지배구조법상 제재규정이 금융사고 발생 후 임원에게 결과책임을 지우는 수단으로 작동하기보다는, 사전에 임원들로 하여금 내부통제 리스크를 관리할 인센티브를 부여받는 방향으로 운영되어야 한다. 따라서 금융사지배구조법상 금융회사의 임원에게 부과되는 ‘내부통제 관리의무’의 의미를 구체화하고, 합리적인 면책 및 감경 요건을 마련하는 데 노력이 집중되어야 할 것이다.
Abstract
In Korea, on December 8, 2023, the amendment to the Act on the Corporate Governance of Financial Companies (hereinafter referred to as the “Governance Act”), which improved the internal control system of financial companies by referring to the UK's Senior Managers & Certification Regime(SM&CR), was passed by the National Assembly and is scheduled to be implemented from July 2024. The purpose of this article is to introduce the specific contents of the UK SM&CR in advance of its introduction in Korea, to understand its fundamental purpose and operation, and to establish the system in the Korean legal system to fulfill its purpose. SM&CR is a financial regulation introduced in the United Kingdom to strengthen the individual accountability of senior managers for the internal controls of financial companies. The core of the system is to strengthen senior managers accountability by assigning clear responsibilities to the top decision-makers of financial companies in advance and imposing a duty of care for misconduct in their areas of responsibility. The Responsibilities Map and the Statement of Responsibilities are tools under the Financial Regulation Act that clarify the distribution of responsibilities among senior managers and address information asymmetries in the supervisory authorities' information to enable a proactive enforcement approach to supervision of financial firm risks. The aim is not to increase sanctions against senior managers, but rather to strengthen the link between supervisors and financial companies so that future risks can be identified in advance and supervisors can intervene proactively to prevent financial incidents. The ‘internal control management obligation’ imposed on executives, through this amendment to the Corporate Governance Act is an indeterminate concept that is both abstract and comprehensive. The lack of clarity and predictability of sanctions in terms of enforcement for violations of the internal control management duty of care imposed on executives may lead financial companies to adopt overly conservative internal control procedures to prepare for inconsistent and opaque supervision, or, conversely, not to make any effort to comply at all, thereby rendering the system ineffective. Efforts should be focused on refining the meaning of “principles” and “standards” as much as possible to capitalize on their flexibility, while ensuring that they do not undermine legal stability, and on establishing reasonable exemptions. In order for the introduction of this regime to be successful in establishing internal controls in financial firms, it is important that the sanctions regime does not act as a means of shielding management from the consequences of financial incidents. The UK's SM&CR and its adoption in Korea should lead to a paradigm shift in which senior managers of financial companies are required to account for their internal control efforts in their areas of responsibility, rather than maintaining a state of ignorance by claiming that they were unaware of employee misconduct when a financial incident occurs.
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