은행의 신탁업 및 집합투자업 영위에 대한 자본시장법 적용의 법적 문제

Abstract

Property of any sort can be held on trust. The uses of trusts are many and varied. Trusts can be created during a person's life(usually by a trust instrument) or after death in a will. As trusts can become more flexible instrument to accommodate a variety of purposes, they will be used with even greater frequency compared to other types of structured finance vehicle. "The capital market and financial investment business act" (CFA) has acknowledged trust business as a branch of the financial investment business. As a result, the trust business act is abolished and the difference of the trust and collective investment is identified through the prohibition of the cooperated application of money trust. However, this is preventing the collective trust from making progress. Also, the CFA does not include provisions regarding trust instruments without investment risks and business incidental to the trust business. This could be considered as an act in disregard of the individuality and originality of the trust business. In this writing the allowance of the cooperated application of money trust is claimed. There is no significant difference between the specific money trust and fund. Once, CFA comes into action the protection of the money trust investor will follow the same guideline as the financial investment instrument. Therefore, the inclusion of trust into the collective investment scheme should be considered. Through the approval of cooperated application, the need for an asset management by the use of trust is presented. The thesis ends by presenting our legislative task for the improvement of trust institutions.