프라임 브로커의 파산과 관련된 법적 쟁점과 그 시사점

• 영문명: The Bankruptcy of Prime Broker and Legal - Focused on the Bankruptcy of Lehman Brothers and Investor Protection -
• 발행기관: 한국사법학회(구 한국비교사법학회)
• 저자명: 이상복(Sang-Pog Lee)
• 간행물 정보: 『비교사법』比較私法 제17권 제1호, 527~560쪽, 전체 34쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2010.03.30

영문 초록

In many countries, Hedge Funds is introduced to develop capital market and provide various investment vehicles. Prime Broker provides Hedge Funds with total services, namely clearing and settle, custody, streamlined trading, securities lending, margin lending, and capital introduction. At present, Korea FSC considers the introduction of Hedge Fund. Therefore, the introduction of Prime Broker will be followed. This article examines the bankruptcy of Lehman Brothers as Prime Broker. The author begins with the definition and role of Prime Broker. And this article examines the background of Lehman Brothers' bankruptcy. In addition, Lehman Brothers' bankruptcy and Legal Arguments of investor protection. Legal Argument are composed of SEC Rule 15c3-1(net capital rule) and 15c3-3(customer protection rule), U.S Federal Bankruptcy Code(stockbroker liquidation), Securities Investor Protection Act, Insurance, and ISDA Master Agreement. If Korea FSA will introduce Prime Broker soon or later, FSA have to consider Legal Implications, in other words, net capital rule, customer protection rule, bankruptcy provisions etc., in order to protect investor. The case of Lehman Brothers' bankruptcy as Prime Broker will give lessons to the Korea's regulation of Prime Broker in the near future.

목차

Ⅰ. 머리말

Ⅱ. 프라임 브로커의 개념과 역할

Ⅲ. 리만 브라더스 파산의 원인과 배경

Ⅳ. 리만 브라더스의 파산과 투자자 보호와 관련된 법적 쟁점과 시사점

Ⅴ. 맺음말

키워드

헤지펀드 프라임 브로커 고객보호규칙 순자본규칙 파산법 증권투자자보호법 ISDA 마스터 계약서 리만브라더스 Hedge Fund Prime Broker Customer Protection Rule Net Capital Rule Bankruptcy Code SIPA ISDA Master Agreement Lehman Brothers.