Recently, the debate over fixing the fragmented financial services regulatory structures abroad is raising questions about merits of having singular regulator in Korea. Regulatory structure is important to promote robust financial consumer protection and the problem has become more acute in recent days. There are many factors that influence the financial consumer regulatory performance, which are interlinked such as independency, accountability, transparency, effectiveness, expertness, competency etc. However, issues as like what gets regulated in the financial industry, how it gets regulated, when it gets regulated and by whom are primarily regulatory turf issues and seem to be very controversial. This paper argues that although regulatory agency structure is very important and a key to have the competitiveness of a financial market, concerning the current situations faced in Korea, the most important thing is to balance and resolve the conflicting regulatory purposes within the single financial regulator. Our current financial regulatory organization has multiple goals that sometimes have conflicting policy implications to the regulatory agency. Alternatively, the goals may be assigned to more competing agency. That is said to take twin peaks models. To evaluate the effectiveness and performance of current financial regulatory system in Korea, considering and recognizing new movements of international regulatory structures reforms is necessary and of importance. This paper tries to find optimal financial regulatory structures and how to accomplish those system. To this purpose, the first section explains what is optimal financial regulatory structure and how to establish it. The second section analyzes the background and reasons of recent reforming regulatory structures in foreign countries. This section also compares the types of financial regulatory system models in details. The third section describes briefly the foreign countries' experience and each government's plan to fix fragmented financial regulatory systems. To summarize, this paper intends to analyzes the recent international regulatory reforms and aims to evaluate the debate over regulatory agency structures and performance.