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A Study on the Classification of Investors

  • DONG-A LAW REVIEW
  • 2013, (61), pp.375-407
  • Publisher : The Institute for Legal Studies Dong-A University
  • Research Area : Social Science > Law

Choi, Young Joo 1

1부산대학교

Accredited

ABSTRACT

Financial Investment Services and Capital Markets Act introduced a new regulation which classifies investors into general investors and professional investors and applies different protection according to the classification. Despite a little confusion in the early stage, the regulation seems to have been successfully established. This article, however, suggest some complementary measures because the regulation still has several problems related to system and operation. First, when classifying as professional investors, the regulation needs to consider qualitative factors such as investor’s expertise in addition to the wealth. It is better to classify enterprises based on the size of it than simply on the listing. In case of voluntary professional investors, it also needs to consider investor’s expertise. Regarding the system of investor reclassification, this article suggest some supplementary measures about the time of effect and the effect of written confirmation and others. This article also pointed out that the regulation needs to be revitalized in several ways such as unifying regulatory system about professional investors and giving real benefits to both professional investors and financial investment business entities. Finally, this article investigated how the professional investors affect the judicial precedents before and after the introduction of the regulation.

Citation status

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