금융법상 사인에 대한 징계벌의 범위와 한계

Abstract

Financial Services Commission(FSC) published its intention to impose disciplinary actions mainly on the institutions rather than on individuals and financial penalties rather than sanctions on status, in order to improve its practice of ‘A Plan to Innovate Disciplinary Actions in Financial Area’ in 2015. FSC finished the revision of related laws and regulations by the end of 2017. Disciplinary actions on individual, however, are still being used a lot at working level and many problems remain. Some disciplinary actions are inevitable for the efficiency of financial administration when considering the characteristics of the regulated industry. But one should refrain from relying heavily on the sanctions against individual. This article pointed out that imposing sanction on individual, among the disciplinary actions used by the FSC, is not well placed legally and probable violation of human rights. Therefore, this article recommends to limit it to senior officers and abolish it against employees if it is not practicable to abolish it completely. This article also recommends to use mainly those measures on senior officers in accordance with the goals of financial supervision to improve the prudence of financial companies and exclude disqualified persons from the business of the companies, and for the FSC to impose it directly for the clarification of remedial procedure of human rights. From the perspective of regulatory authority, one may argue that it is difficult to secure the efficiency of financial administration without the sanction on individuals. It could be settled, however, if a regulatory body use tougher sanction against institution enough to restrict the violation of law and misdeeds of individuals by itself. In addition, using financial penalties may minimize the side effect of disciplinary actions against institution such as suspension of business.