The Capital Market and Financial Investment Business Act was made in 2007. After the making of the Capital Market and Financial Investment Business Act, the capital market together with appearance of a big financial investment company which engages in securities activities, investment management services, trust activities, and futures activities will greatly change in Korea. It is clear that a commercial bank has played an important role in financial market. According to the changing financial market, the scope of activities of a bank needs to enlarge. Also, it is necessary to deregulate the activities in which a bank has engaged. This will result in enhancing the competitiveness of a bank under the competitive financial market. In this connection, Singapore has universal banking system, so a commercial bank has power freely to engage in securities activities and insurance activities under universal banking system of Singapore. In conclusion, the scope of activities of a bank should greatly broaden by means of amending the Banking Act. It is necessary to improve competitiveness of a bank under the Capital Market and Financial Investment Business Act.