óÀ½ ºñÆ®ÄÚÀÎÀ¸·Î ½ÃÀåÀÌ ¼ú··°Å¸±¶§¿Í´Â
ÇöÀç ºÐÀ§±â´Â »ç¹µ ´Ù¸¥ ÀÌÀ¯°¡
Çϳª µÑ ´ë±â¾÷µéÀÌ ºí·ÏüÀÎÀº ¹°·Ð
¾ÏÈ£ÈÆó½ÃÀå¿¡ Âü¿©ÇÏ°í À¯¸í Ä«µå»çµéÀÌ
½É°¢ÇÏ°Ô ¾ÏÈ£ÈÆó¸¦ °í¹ÎÇϸç
±×·¯ÇÑ Ä«µå»ç¿ÍÀÇ ¾î¸¶¹«½ÃÇÑ ¼ö¼ö·á °ü·Ã
ȸ°è¿Í °æ¿µ Ãø¸é¿¡¼ÀÇ ´ë±â¾÷µé°úÀÇ °¥µî¶§¹®¿¡
È帧 ÀÚü°¡ ºü¸£±âµµ ÇÏ°í ¼ö¹é°¡Ä¡ÀÇ ¾ÏÈ£ÈÆó¸¦ ³õ°í
¾î¶² ³à¼®ÀÌ °¡Àå ´ëÀåÀÌ µÉ·±Áö ´ëÁßµéÀÇ ±ÍÃ߸¦ ÁÖ¸ñÇÏ°ÔÇÑ´Ù.
ÀÌ·¸°Ô Á¡Á¡ ¿±â°¡ ¿Ã¶ó°¡´Â ´ëÁßµéÀÇ °ü½É»ç
¾ÏÈ£ÈÆó´Â ¹Ì±¹À̶ó´Â ±âÃà´Þ·¯, ¼®À¯¶ó´Â »ç¿ìµð¾Æ¶óºñ¿ÍÀÇ
°ü°è¿¡¼ ÇÑÆí ¶Ç ´Ù¸¥ °¥µîÀÌ Á¦±â µÇ°í Àֱ⵵ Çѵ¥
¿ì¸®°¡ ¾ÏÈ£ÈÆó¿¡ ´ëÇÑ Èñ¸ÁÀ» °®±â Àü¿¡ ¹Ýµå½Ã
¤°í ³Ñ¾î°¡¾ßÇÒ Áß¿äÇÑ Æ÷ÀÎÆ®°¡ ÀÖ´Ù°í º»´Ù.
¿Ö³ÄÇÏ¸é ¿ì¿ÕÁÂ¿Õ ÇÏÁö¾Ê°í Á¦´ë·Î ÀÚ½ÅÀÇ ÄÚÀο¡ ´ëÇÑ
½Å·Ú¸¦ °¡Áö°í ÅõÀÚ¸¦ Çؾ߸¸ Åõ±â²Û, »ç±â²ÛÀ¸·Î Àü¶ôÇÏ´Â
ºÒÇàÀ» ¸·À» ¼ö Àֱ⠶§¹®ÀÌ´Ù.
Áö³ 2013³â ¹Ì±¹ÀÇ ¹ý¿øÀº
ºñÆ®ÄÚÀÎÀ» 'ÈÆó'¶ó°í ÆÇ°á³»·È¾úÁö¸¸
±Ù·¡ ÀÛ³â 2018³â09¿ù26ÀÏ¿¡´Â
¹Ì±¹¿¬¹æ¹ý¿øÀÌ ¾ÏÈ£ÈÆó¸¦
'»óÇ°-Commodity'·Î ºÐ·ùÇÏ°í ÆÇ°áÀ» ³»¸®±â¿¡ À̸£·¶´Ù.
U.S COMMODITY FUTURES COMMISSION
¾ð¶æ ¿ì¸®°¡ ¾ÏÈ£ÈÆó¸¦ »ý°¢Çϱ⿡´Â
Áõ±ÇÀ̳ª À¯°¡Áõ±Ç, ä±Çó·³ ¿©±â´Â °ÍÀÌ
ÈξÀ À̹ÌÁö°¡ ºñ½ÁÇÏ´Ù°í °£ÁÖ ÇÒ ¼ö ÀÖ°ÚÁö¸¸
¹Ì±¹¿¬¹æ¹ý¿øÀº ¾ÏÈ£ÈÆó¸¦ ¼±¹°½ÃÀå¿¡¼ÀÇ
»óÇ° Áï COMMODITIES·Î ºÐ·ù, ÆÇ°áÇϹǷνá
ÀÌÁ¦±îÁö ¹ýÀûÀ¸·Î ¾ÏÈ£ÈÆó¸¦ ±ÔÁ¦Çϰųª ÅëÁ¦ÇÏ´Â
±â°ü¸¶Àú È® ¹Ù²î¾î ¹ö¸° °ÍÀÌ´Ù.
¹Ì±¹¿¬¹æ¹ý¿øÀÇ ¾ÏÈ£ÈÆó ACT
¡áSee FindLaw's Securities Law section for additional articles and resources, including Securities Law: An Overview and Questions About Securities Law.
¢ºSecurities: Stocks and Bonds
¢ºCommodities: Metals, Grains, and Oil
Similarities and Differences:
Securities vs. Commodities
Securities and commodities are both traded on markets. They're also liquid, meaning they can be easily exchanged. These features invite buying and selling for whatever reason. An investor buys stock hoping for its value to rise and make a profit. An apple juice company might buy next year's apples in advance to avoid a rising apple prices should there be a bad crop. Both situations involve an opportunity for profit and some degree of risk. It's more and more common for financial planners to diversify portfolios by including commodities.
There's another major difference between the two. Securities and commodities operate under different laws and are regulated by different agencies. The U.S. Securities and Exchange Commission (SEC) regulates securities under the Securities Act of 1933. The Commodity Futures Trading Commission regulates commodity markets under the Commodity Exchange Act of 1936. Securities and commodities are governed by different statutes, regulated by different agencies, and operate in different markets. This difference affects buyers, sellers, and investors. It can also make a difference should you need an attorney.
[Áõ±Ç VS »óÇ°ÀÇ ºñ½ÁÇÏÁö¸¸ ´Ù¸¥Á¡]
¢ºÁõ±Ç : ÁÖ½Ä ¹× ä±Ç
À¯°¡ Áõ±ÇÀ» »ç´Â ´ëºÎºÐÀÇ »ç¶÷µéÀº ±×°ÍÀ» ÅõÀÚ·Î »ê´Ù. °ø°³ÀûÀ¸·Î °Å·¡µÇ´Â ȸ»çÀÇ ÁÖ½ÄÀº °¡Ä¡°¡ Áõ°¡Çϰųª °¨¼Ò ÇÒ ¼ö ÀÖÀ¸¸ç ´ëºÎºÐÀÇ À¯°¡ Áõ±Ç º¸À¯ÀÚ´Â Çкñ, ÁÖ¿ä ±¸¸Å ¹× ÅðÁ÷±ÝÀ» °è¼Ó ¸ðÀ¸°í ¶Ç´Ù¸¥ ÅõÀÚÀÚµéÀº ´Ü¼øÈ÷ ±×µéÀ» »ç¿ëÇÏ¿© Àü¹ÝÀûÀÎ ºÎ¸¦ À¯ÁöÇÏ°í ¼ºÀå½ÃŲ´Ù.
Áõ±ÇÀº ±ÝÀ¶ ½Ã½ºÅÛ¿¡¼ Áß¿äÇÑ ¿ªÇÒÀ» ´ã´çÇϸç ȸ»ç¿Í Á¤ºÎ ±×¸®°í ÀÚº»°ú ÅõÀÚÀÚ¿¡°Ô ¼öÀÍÀ» Á¦°øÇÏ°Ô µÈ´Ù.-Áß·«-
ÁÖ½Ä, ä±Ç ¹× ½Å¿ë µðÆúÆ® ½º¿ÒÀº ÀϹÝÀûÀÎ À¯°¡ Áõ±ÇÀÌ È°¿ëµË´Ï´Ù¸¸(.-Áß·«-)
1946 ³â¿¡ ¹Ì±¹ ´ë½É¿øÀº SEC v. WJ Howey Co. ÀÇ Áõ±Ç¿¡ ´ëÇÑ ±â´ÉÀû Á¤ÀǸ¦ Á¦Á¤Çß½À´Ï´Ù. ¹Ì±¹¿¬¹æ¹ý¿¡ ÀÇÇØ ±ÔÁ¦µÇ´Â Áõ±ÇÀº "ÀüÀûÀ¸·Î ¹ß±âÀÎÀ̳ª Á¦ 3 ÀÚÀÇ ³ë·ÂÀ¸·Î ÇÑ »ç¶÷ÀÌ °øµ¿ »ç¾÷¿¡ µ·À» ÅõÀÚÇÏ°í ÀÌÀÍÀ» ±â´ëÇÏ°Ô ¸¸µå´Â °Í "ÀÌ´Ù.
ÇÑ È¸»ç°¡ °¨±Ö·ù ¿¡ÀÌÄ¿¸¦ ÆȾÒÀ¸¸ç °ü·Ã ȸ»ç´Â ¼ÒÀ¯ÁÖ¸¦ ´ë½ÅÇÏ¿© ¹çÀ» ÀÏÇÏ°í À¯ÁöÇϱâ·Î °è¾àÇߴµ¥ ¹ý¿øÀºÀÌ ¾àÁ¤À» º¸¾ÈÀ¸·Î °áÁ¤Çß´Ù. Áõ±ÇÀº ºÎºÐÀûÀ¸·Î ¿¬¹æ Áõ±Ç ±ÔÁ¦¸¦ ȸÇÇÇÏ·Á´Â ³ë·ÂÀ» ¹æÁöÇϱâ À§ÇØ ±¤¹üÀ§ÇÏ°Ô Á¤ÀǵȴÙ.
[¹Ì±¹ ¿¬¹æ¹ý¿øÀÇ Á¤ÀÇ]
ÇʼöÇ° : ±Ý¼Ó, °î¹° ¹× ±â¸§
Áõ±Ç°ú »óÇ°À» »ç°í ÆÄ´Â °Í¿¡¼ÀÇ °¡Àå Å« Â÷ÀÌÁ¡Àº ÆǸŵǴ °Í¿¡ ÀÖ´Ù. ±¸¸Å ÁÖ½ÄÀº ȸ»çÀÇ ¼ÒÀ¯±Ç°ú ÅëÁ¦±ÇÀ» °øÀ¯ÇÏÁö¸¸ »óÇ° ±¸¸Å´Â »óÇ°ÀÌ ½ÇÁ¦·Î Á¸ÀçÇϱâ Àü¿¡ »óÇ°À» ±¸¸ÅÇÏ´Â °Í(¼±¹°°Å·¡, ¼±¹°¿É¼Ç-ÇÊÀÚÁÖ). ±¸¸ÅÀÚ´Â ¸¹Àº ±Ý¾×ÀÇ »óÇ°À» Á¤ÇØÁø °¡°ÝÀ¸·Î ±¸ÀÔÇÏ¿© ³ªÁß¿¡ Á¦°ø ÇÒ °Í¿¡ µ¿ÀÇÇϰԵȴÙ.
±¸¸Å »óÇ°Àº ÅõÀÚÀÇ ÇÑ ÇüÅ·ΠÁ¤ÀǵȴÙ.
±¸¸ÅÀÚ´Â ³ªÁß¿¡ °¡°Ý »ó½ÂÀ» ÇÇÇϱâ À§ÇØ ÁÁÀº °¡°Ý¿¡ ¹Ì¸® ÇØ´ç°¡°ÝÀ» °íÁ¤ÇϹǷΠÆǸÅÀÚÀÇ °æ¿ì¿Í´Â Á¤¹Ý´ë´Ù. (ÆǸÅÀÚ´Â)¹Ì·¡ °¡°ÝÀÌ Ç϶ôÇÒ °æ¿ì »çÀü¿¡ ÁÁÀº °¡°ÝÀ¸·Î ÆǸÅÇϱ⸦ ¿øÇÑ´Ù. ÀÌ·¯ÇÑ Çö»óÀ» ÇòÁö¶ó°í ÇÑ´Ù. Â÷ÈÄ ¼®À¯ °¡°ÝÀÌ 100 ´Þ·¯·Î ¿À¸£¸é 50 ´Þ·¯·Î ¹Ì¸® ±â¸§À» »ì ¼öÀÖ´Â °Í.
µû¶ó¼ (±¸¸ÅÀÚ ¶Ç´Â ÆǸÅÀÚ) ´ç½ÅÀº ¶ÇÇÑ ¿©±â¿¡ ÀáÀçÀû ÀÎ ÀÌÀÍÀ» º¼ ¼ö ÀÖÀ¸¸ç, »óÇ°°¡°ÝÀÇ ÃßÃøÀº ÀϹÝÀûÀÌ´Ù. »óÇ°ÀÌ ¿Á¼ö¼ö ÀÏÁö¶óµµ ³·Àº °¡°ÝÀ¸·Î ÆÈ°í ³ôÀº °¡°ÝÀ¸·Î Æȸ± ¼öÀÖ´Â ÀÌÀÍÀÌ ÀÖ°í(Áß·«)»óÇ°ÀÇ Æ¯Â¡Àº »óÈ£ ±³È¯ ¼º¿¡ ÀÖ°í ´ëºÎºÐÀÇ °æ¿ì ¾ç(Quality,Quantity-ÇÊÀÚÁÖ)¿¡ °üÇÑ °ÍÀÌ´Ù.
À¯»çÁ¡°ú Â÷ÀÌÁ¡ : Áõ±Ç ´ë »óÇ°
Áõ±Ç°ú »óÇ°Àº ¸ðµÎ ½ÃÀå¿¡¼ °Å·¡µÇ´Âµ¥ ¾×ü¶ó¸é ½±°Ô ±³È¯ ÇÒ ¼ö ÀÖ´Ù. ÀÌ·¯ÇÑ ±â´ÉÀº ¾î¶² ÀÌÀ¯·Î µç ±¸¸Å ¹× ÆǸŸ¦ À¯µµÇÑ´Ù. ÅõÀÚÀÚ´Â ±× °¡Ä¡°¡ »ó½ÂÇÏ°í ÀÌÀÍÀ» ¾ò±â¸¦ ¹Ù¶ó´Â ÁÖ½ÄÀ» ¸ÅÀÔÇÑ´Ù.
¿¹¸¦µé¾î, »ç°ú ÁÖ½º ȸ»ç´Â ³ª»Û ÀÛ¹°ÀÌÀÖÀ» °æ¿ì »ç°ú °¡°Ý »ó½ÂÀ» ÇÇÇϱâ À§ÇØ ³»³â »ç°ú¸¦ ¹Ì¸® ±¸ÀÔÇÒ °ÍÀÌ°í ÀÌÀÍÀ»À§ÇÑ ±âȸ¿Í ¾î´À Á¤µµÀÇ À§ÇèÀ» ¼ö¹ÝÇϰԵȴÙ.(Áß·«)
µÑ »çÀÌ¿¡´Â ¶Ç ´Ù¸¥ Áß¿äÇÑ Â÷ÀÌÁ¡ÀÌ Àִµ¥ À¯°¡ Áõ±Ç ¹× »óÇ°Àº(°¢°¢)´Ù¸¥ ¹ý·ü¿¡ µû¶ó ¿î¿µµÇ¸ç ´Ù¸¥ ±â°ü¿¡¼ ±ÔÁ¦ÇÑ´Ù.
¹Ì±¹ Áõ±Ç °Å·¡À§¿øȸ (SEC)´Â 1933 ³â Áõ±Ç¹ý¿¡ µû¶ó À¯°¡ Áõ±ÇÀ» ±ÔÁ¦ÇÑ´Ù.
»óÇ° ¼±¹° °Å·¡À§¿øȸ ´Â 1936 ³â »óÇ° °Å·¡¹ý¿¡ µû¶ó »óÇ° ½ÃÀåÀ» ±ÔÁ¦ÇÑ´Ù.
À¯°¡ Áõ±Ç ¹× »óÇ°Àº ´Ù¸¥ ¹ý·É¿¡ ÀÇÇØ ±ÔÁ¦µÇ¸ç ÀÌ Â÷ÀÌ´Â ±¸¸ÅÀÚ, ÆǸÅÀÚ ¹× ÅõÀÚÀÚ¿¡°Ô ¿µÇâÀ»ÁְԵȴÙ.
´©°¡ ÀÌ°Ô ÁÁ´Ù´õ¶ó ÇÏ´Â 'Ä«´õ¶ó' Âî¶ó½Ã¿¡
ÈֵѷÁ¼ ÅõÀÚ¸¦ Çϱ⺸´Ù
ÀÌ·¸µç ±âÃàÅëÈÀÎ °Ô´Ù°¡ ¾ÆÁ÷Àº »ç¿ìµð¼®À¯¿Í
¹¿©ÀÖ´Â ¿ÀÀÏ´Þ·¯ USD$¸¦ À¯Åë(?-´Þ·¯µµ ±×·³ »óÇ°COMMODITYÀϱî?)½ÃÅ°´Â
¹Ì±¹ÀÌ Á¤ÇسõÀº »õ·Î¿î ¹Ì±¹¿¬¹æ¹ý¿øÀÇ
[¾ÏÈ£ÈÆó´Â »óÇ°COMMODITY´Ù.]¿¡ ´ëÇØ ½É»ç¼÷°í ÇÏ°í
²ÙÁØÈ÷ °øºÎÇØ ³ª°¡¾ß ¼º°øÀûÀÎ ÅõÀÚ°¡ µÇ¸®¶ó°í º»´Ù.
¿ì¸®³ª¶ó¿¡¼ ¾ÏÈ£ÈÆó´Â »óÇ°Àϱî? ÈÆóÀϱî?
¼¼°èÀûÀÎ Ãß¼¼¸¦ ¾ðÁ¦±îÁö ±ò°í ¾É¾Æ ±¹¹ÎµéÀ» Èûµé°Ô ÇÒ °ÍÀΰ¡.
¿©±â¿¡ ±æµé¿©Áö¸é ¾ÈµÇ°Ú´Ù, ¿ì¸®´Â ¿ì¸®³¢¸® »ó»ýÇؾßÇÑ´Ù.