Get Help with your Assignments Instantly!



FSC522 The Regulatory Assignment

Task

1
FSC522 The Regulatory
Framework
Task 1
Overview
This evaluation assesses studying final result 2:
• LO2: Apply authorized obligations in a monetary recommendation scenario.
Notice: You will need to submit your work by the project submission hyperlink within the course. Add your project, then use the ‘Save’ and ‘Submit evaluation’ buttons – or we is not going to obtain your project.
You’re going to get an digital receipt and your work is then logged and tracked by our system. Open Polytechnic is not going to settle for assignments emailed on to lecturers.
Scholar Directions
1. This project covers three hypothetical case research that require you to use authorized obligations to a monetary providers scenario.
You need to learn by Case Research 1 earlier than trying Activity 1 and skim by Case Research 2 earlier than trying Activity 2.
One can find each circumstances research – Appendix 1 and Appendix 2 – beneath this project on the Task 1 web page.
2. You might be required to reply all three duties.
three. The subjects coated on this evaluation are:
• Activity 1 – Case examine 1: Aotearoa Insurance coverage
• Activity 2 – Case examine 2: Aotearoa Financial institution
• Activity three – Case examine three: Licensing
four. You can be assessed in your total presentation. Every reply must be introduced in an expert method. This implies:
• Minimal spelling and grammatical errors.
• Written in phrases that an viewers with little monetary information will perceive.
5. For every activity, now we have supplied you with a recommended phrase depend. Notice that the phrase depend is for steerage solely and you’ll not be penalised for being below or over the recommended phrase depend, supplied you absolutely reply the duty.
Activity 1
Learn by case examine 1 (Appendix 1) earlier than trying this activity.
a) Regulated monetary recommendation
Does David give regulated monetary recommendation on this scenario? Give causes to your reply.
You might be required to:
• State whether or not or not David provides regulated monetary recommendation on this scenario.
• Cite and clarify the related part(s) of the Monetary Markets Conduct Act 2013 that helps your view.
(50 phrases)
b) Privateness Act 2020
David collects private data from Kate. Does he accumulate this private data in accordance with the privateness rules?
You might be required to:
• Determine the 4 privateness rules that cowl the gathering of non-public data.
• For every of the 4 rules, illustrate, close to the case examine, whether or not David complies with every precept.
(100 phrases)
c) Non-obligatory profit – hiring a automotive
Kate is adamant that she made it clear she wanted cowl for the price of hiring a automotive. Her feedback recommend that Aotearoa Insurance coverage could have breached shopper laws. Which Act could it have breached and the way?
You might be required to:
• Determine the Act that Aotearoa Insurance coverage could have breached.
• Cite the 2 key sections of the Act that will have been breached.
• Clarify why these two key sections could have been breached.
(100 phrases)
d) Human Rights Act
Kate accuses Aotearoa Insurance coverage of discrimination. Is there any
proof that Aotearoa Insurance coverage has practised discrimination in its dealings with Kate?
You might be required to:
• State whether or not or not Aotearoa Insurance coverage has practised discrimination in its dealings with Kate.
• Justify your determination close to the related part(s) of the Human Rights Act.
(80 phrases)
e) Complaints
Does David apply the proper course of for dealing with complaints?
You might be required to:
• State whether or not or not David has adopted the proper course of for dealing with Kate’s criticism.
• Justify your determination close to Aotearoa Insurance coverage’s obligations as a member of the Insurance coverage and Monetary Companies Ombudsman Scheme.
(50 phrases)
Activity 2
Learn by Case Research 2 (Appendix 2) earlier than trying this activity.
a) Regulated monetary recommendation
Does Serena give regulated monetary recommendation on this scenario? Give causes to your reply.
You might be required to:
• State whether or not or not Serena provides regulated monetary recommendation on this scenario.
• Cite and clarify the related part(s) of the Monetary Markets Conduct Act that helps your view. (50 phrases)
b) Anti-Cash Laundering and Countering Financing of Terrorism Act
2009 (AML/CFT Act)
Serena tells Chris she wants private data and documentation from him to fulfill Aotearoa Monetary Planning’s’ obligations below the AML-CFT Act. What are these obligations?
You might be required to:
• Determine the suitable buyer due diligence necessities on this scenario.
• Clarify the private data and documentation Serena wants to fulfill these obligations.
• Cite the sections of the AML/CFT Act and Amended Identification Verification Code of Observe 2013 that apply on this scenario.
(250 phrases)
c) Monetary Markets Conduct Act (FMCA)(Half 2) and Truthful Buying and selling Act
(FTA)
Within the means of checking if Chris understands how KiwiSaver works, Serena avoids a possible breach of the FMCA (Half 2) and the FTA.
• What is that this potential breach and the way does she keep away from it?
You might be required to:
• Clarify the potential breach, and cite the particular part of the FMCA (Half 2) and the particular part of the FTA that apply.
• Determine the motion Serena takes to keep away from the potential breach.
• If there had been a breach, which regulator would probably hear the case?
You might be required to:
• State which regulator would probably hear the case.
• Clarify the association between the 2 regulators of the FMCA (Half 2) and the FTA for listening to circumstances.
• Cite the doc that particulars this association.
(100 phrases)
d) Disclosure
Throughout their first assembly, Serena offers Chris with a disclosure assertion and explains key data. Throughout their second assembly, Serena factors out that details about complaints and dispute decision processes is out there on Aotearoa Monetary Planning’s web site. She additionally explains different key data.
• First assembly: What data should Serena disclose at this stage?
You might be required to:
• Determine and clarify three items of data Serena’s disclosure assertion should embrace at this stage to fulfill obligations below the Monetary Markets Conduct Laws 2014.
• Embody solely data that’s straight related to the case examine.
• Second assembly: What data should Serena disclose at this stage and what details about complaints and dispute decision processes will likely be displayed on Aotearoa Monetary Planning’s web site?
You might be required to:
• Determine and clarify two additional items of data Serena’s disclosure assertion should embrace at this stage to fulfill obligations below the Monetary Markets Conduct Laws 2014 (aside from a press release that details about Aotearoa Monetary Planning’s complaints and dispute decision processes is out there on their web site).
• Clarify what details about complaints and dispute decision processes will likely be displayed on Aotearoa Monetary Planning’s web site.
• Embody solely data that’s straight related to the case examine.
(200 phrases)
e) Duties
Disclosure is one instance of a spread of duties that Serena should adjust to. Other than disclosure, which different duties are evidenced on this case examine?
You might be required to:
• Choose three duties.
• For every obligation chosen, present an instance from the case examine (background data and transcript) that illustrates compliance with that obligation.
(100 phrases)
Activity three
Frank has a few years’ expertise giving monetary recommendation. He returns to New Zealand after eight years working in Australia in an adviser position. He desires to proceed in an recommendation position now he’s again in New Zealand. Frank has reviewed the totally different working fashions for giving monetary recommendation in New Zealand and has narrowed his choices to a few:
• Single adviser enterprise.
• Monetary adviser engaged by a longtime monetary recommendation supplier.
• Nominated consultant engaged by a longtime monetary recommendation supplier.
a) Clarify the three fashions when it comes to the totally different pathways Frank should comply with earlier than he can function below that mannequin.
You might be required to:
• Determine the steps within the pathway for every mannequin.
• Clarify the important thing requirement(s) at every step.
(400 phrases)
b) In the event you have been in Frank’s place, which mannequin would you select and why?
You might be required to:
• Present one benefit and one drawback for every of the three fashions.
• State your alternative of mannequin.
• Give one purpose to help your alternative.
(100 phrases)
Task Guidelines
Have you ever accomplished every activity?
Activity Breakdown Phrases Guidelines
Activity 1
Case Research 1:
Aotearoa Insurance coverage Regulated monetary recommendation 50
Privateness Act 2020 100
Non-obligatory profit – hiring a automotive 100
Human Rights Act 80
Complaints 50
TOTAL 380
Activity 2
Case Research 2:
Aotearoa Monetary
Planning Regulated monetary recommendation 50
Anti-Cash Laundering and
Countering Financing of
Terrorism Act 2009 (AML/CFT
Act)
250
Monetary Markets Conduct Act
(FMCA)(Half 2) and Truthful
Buying and selling Act (FTA) 100
Disclosure 50
Duties 100
TOTAL 550
Activity three
Case Research three:
Licensing Pathways 400
Mannequin of alternative 100
TOTAL 500

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp