정보비대칭성하에서 설명의무의 본질에 관한 소고 장외파생상품 설명의무의 제도·경제적 접근을 중심으로

• 영문명: A Study on the Nature of Duty to Explain under Information Asymmetry in 0TC Derivatives Transactions
• 발행기관: 중앙대학교 법학연구원
• 저자명: 박기주(Park, Ki-Ju)
• 간행물 정보: 『법학논문집』法學論文集 第39輯 第3號, 271~300쪽, 전체 30쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2015.12.18

영문 초록

The financial institution's duty to explain in OTC Derivatives transactions is transactional subordinate duty of cares as the duty to provide customers reasonable information about financial commodity. Recently, there are many cases to ask for liability by breach of the duty to explain in OTC Derivatives transactions in many countries. For this reason, there is a need for effective control over legal risk in the way that investor's claim for the breach of duty to explain in OTC Derivatives transactions. This is because there might be waste of time and economical cost not stopping consumptive argument on that issue without clear arrangement on the duty to explain. In contract theory and economics, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. This creates an imbalance of power n transactions which can sometimes cause the transactions to go awry, a kind of market failure in the worst case. Examples of this problem are adverse selection, moral hazard and information monopoly. Information asymmetry models assume that at least one party to a transaction has relevant information whereas the other(s) do not. The nature of duty to explain is to keeping its balance between a consumer and a financial institution and mutual incentives for both financial consumer and institutions under information asymmetry.

목차

Ⅰ. 서 론

Ⅱ. 정보비대칭성과 금융규제

1. 정보비대칭성의 의미

2. 금융기관과 자금공급자 사이의 정보비대칭성과 규제의 필요성

Ⅲ. 장외파생상품거래의 설명의무에 대한 법원의 판단

1. 개요

2. 2013년 대법원 키코 통화옵션계약 판결의 사실관계

3. 판결의 결과

Ⅳ. 정보비대칭성하에서의 설명의무

1. 설명의무의 법리적 근거에 관한 기존의 논의

2. 금융거래 복잡성의 원인과 소비자의 선택

3. 정보비대칭성으로 본 설명의무의 존재 근거

4. 제도설계이론으로 본 설명의무의 가치

Ⅴ. 결론

키워드

장외파생상품 정보비대칭성 설명의무 제도설계이론 OTC Derivatives Information Asymmetry Duty to Explain Mechanism Design Theory