{"id":105118,"date":"2022-06-06T00:00:00","date_gmt":"2022-06-06T00:00:00","guid":{"rendered":"https:\/\/nursingstudybay.com\/2022\/06\/06\/fsc522-the-regulatory\/"},"modified":"2022-06-06T00:00:00","modified_gmt":"2022-06-06T00:00:00","slug":"fsc522-the-regulatory","status":"publish","type":"post","link":"https:\/\/www.studyproessays.com\/help\/fsc522-the-regulatory\/","title":{"rendered":"FSC522 The Regulatory"},"content":{"rendered":"

FSC522\/AS1
\nVer: A1.2
\nFSC522 The Regulatory
\nFramework
\nLearning Outcomes
\nThis assessment assesses the following learning outcomes:
\n\u2022 LO2: Apply legal obligations in a financial advice situation.
\nInstructions
\n\u2022 Submit all your answers in one document.
\nAssessment
\n1
\n\u2022 Write the number of each part of the question you are answering.
\n\u2022 Create a header with your name, student number and assessment number, and number your pages.
\n\u2022 You must make a reasonable attempt to complete your assessment before you submit.
\nSubmission
\n\u2022 Submit your work through your iQualify course. Emailed assessments will not be accepted.
\n\u2022 You will receive an automated notice following submission.
\n\u2022 By submitting, you confirm that the work presented is your own original work.
\nReferencing and Plagiarism
\nRefer to Referencing and plagiarism for information on APA referencing and avoiding plagiarism.
\nTask Instructions:
\n\u2022 Read the case study provided in the separate document Appendix 1 Aotearoa Mortgages and respond to the tasks below.
\n\u2022 Complete all tasks.
\n\u2022 Accurate citation is important; note how we have cited sections (including sub sections of legislation throughout Modules 1 and 2).
\nTask 1: Applying Regulatory Acts
\na. Regulated financial advice
\nDo Nikau and Mia give regulated financial advice in this situation? Give reasons for your answer.
\nYou are required to:
\ni. Explain whether Nikau gives financial advice and regulated financial advice in this situation?
\nii. Explain whether Mia gives financial advice and regulated financial advice in this situation?
\niii. Cite and explain the relevant section(s), including sub-section(s), of the Financial Markets Conduct Act 2013 that support your view.
\n(150 words)
\nb. Disclosure
\nIn the case study, Nikau works through a client interview and provides disclosure at two different stages (Transcript 1 and Transcript 3).
\nI. Transcript 1: What information will Nikau disclose at this stage?
\nYou are required to:
\n\u2022 Identify and explain four pieces of information Nikau\u2019s disclosure statement will include about him and Aotearoa Mortgages Limited, to meet obligations under the Financial Markets Conduct Regulations 2014.
\n\u2022 Ensure you use relevant information from the case study when explaining the information Nikau will disclose.
\nII. Transcript 3: What information will Nikau disclose at this stage?
\nYou are required to:
\n22
\n\u2022 Identify and explain three pieces of information Nikau\u2019s disclosure statement will include about him and Aotearoa Mortgages Limited, to meet obligations under the Financial Markets Conduct Regulations 2014.
\n\u2022 Ensure you use relevant information from the case study when explaining the information Nikau will disclose.
\n[300 words]
\nc. Privacy Act
\nFrom each of the following categories, select two information privacy principles (IPPs) that are complied with in the case study:
\nI. Collecting personal information
\nII. Holding and accessing personal information
\nIII. Using and sharing of personal information
\nFor each IPP provide one example from the case study to show how Nikau complies with that IPP. Clearly identify which IPP relates to each example.
\n(200 words) d. Duties
\nFor each of the following duties, provide one example from the case study to show how Nikau complies with that duty:
\n\u2022 431J
\n\u2022 431K
\n\u2022 431L
\n(75 words)
\ne. AML\/ CFT Act
\nIn Transcript 2, Mia carries out customer due diligence (CDD on Ari). You are required to:
\nI. Summarise the differences between the three levels of CDD and determine which level applies in this situation. Cite the section of the Act that applies to your response.
\n33
\nII. Cite the section of the AML\/CFT Act that covers the identity requirements for the level of CDD you identified in i. Explain which identity requirements apply in this situation.
\nIII. Cite the section of the AML\/CFT Act that covers the verification of identity requirements for the level of CDD you identified in i. Explain which verification of identify requirements apply in this situation.
\nIV. Verification of identify requirements:
\n\u2022 Name the document that provides suggested best practice for verifying customer name and date of birth in this situation.
\n\u2022 Explain whether Mia complies with best practice for verifying customer name and date of birth in this situation.
\n\u2022 Assuming Ari does not have any other primary photographic identification, recommend an alternative combination of identification requirements Mia could have requested to comply with best practice requirements in this situation.
\nV. Enforcement:
\n\u2022 Explain four possible sanctions that may apply to Aotearoa Mortgages for a breach of AML\/CFT Act requirements.
\n\u2022 Name the supervising entity responsible for monitoring and enforcing Aotearoa Mortgages compliance with the AML\/CFT Act.
\n(300 words)
\nf. Fair Trading Act
\nIn the email from Ari to Nikau: Issue 1. What argument could Ari make that Aotearoa Mortgages has breached the Fair-Trading Act?
\nYou are required to:
\ni. Cite the section of the Fair-Trading Act that could have been breached.
\nii. Explain why this section could have been breached.
\n(50 words)
\ng. Consumer Guarantees Act (CGA)
\nEmail from Ari to Nikau: Issue 2. What argument could Ari make that Aotearoa Mortgages has breached the Consumer Guarantees Act?
\n44
\nYou are required to:
\ni. Cite the two sections of the Consumer Guarantees Act that could have been breached.
\nii. Explain why these two sections could have been breached.
\n(100 words)
\nTask 2: Licensing
\nAfter many years of experience giving financial advice under Aotearoa Mortgages, Nikau has decided to set up a financial adviser business with a small group of other existing advisers. They will operate as financial advisers engaged by the new financial adviser business. The business will be called Tohutohu Mokete Limited (TML).
\nThere will be no Nominated Representatives in the business.
\nTML will recruit additional new-to-industry advisers once the new business becomes operational.
\nYou are required to:
\na. For TML:
\nI. Identity the six steps in the pathway to become operational and outline the key requirement(s) at each step.
\nII. Identify the financial advice service license class required and outline what this class of license will permit TML to do.
\nIII. Once operational, explain four consequences for TML breaching its licensed obligations.
\nb. For the new-to-industry financial advisers that will be working for TML in the future:
\nI. Identity the three steps in the pathway each must take to become operational and outline the key requirement(s) at each step.
\nII. Once operational, explain the five consequences for one of these financial advisers if they breach a FMCA duty.
\nc. For complaints:
\nOne of the standard conditions imposed on TML will be that they must have an internal process for resolving client complaints.
\nI. Identify at least five key elements of an effective complaints process.
\nII. For each element, give one example of a policy or process that supports that element.
\n55
\n(300 words)
\nMarking Schedule
\nTask Competent
\nTask 1: Applying Regulatory Acts
\na: Regulated financial advice To be competent for this task you must
\nRecognise whether Nikau gives financial advice and regulated financial advice in this situation.
\nRecognise whether Mia gives financial advice and regulated financial advice in this situation
\nAccurately cite the relevant sections and subsections of the Financial Market
\nConduct Act 2013
\nb: Disclosure To be competent for this task you must:
\nCorrectly identify and explain four pieces of information to be disclosed during transcript 1
\nCorrectly identify and explain three pieces of Assessment Brief Task Help<\/a> information to be disclosed during transcript 3
\nUse relevant information from the case study
\nc: Privacy Act To be competent for this task you must:
\nCorrectly identify two IPPs from each of the listed categories
\nProvide one relevant example of compliance from the case study for each IPP identified.
\nd: Duties To be competent for this task you must Explain one relevant example from the case study for each of the following duties:
\n431J
\n431K
\n431L
\ne. AML-CFT To be competent for this task you must:
\n66
\nAccurately summarise the differences between the three levels of CDD, correctly determine which level applies in this situation and cite the relevant section of the Act.
\nAccurately explain which identity requirements apply in this situation and cite the relevant section of the AML\/CFT Act
\nAccurately explain which verification of identify requirements apply in this situation and cite the relevant section of the AML\/CFT Act.
\nCorrectly name the document that provides suggested best practice for verifying customer name and date of birth in this situation.
\nFSC522\/AS1 Version: A1.2 FSC522\/AS1 Version: A1.2 FSC522\/AS1 Version: A1.2 FSC522\/AS1 Version: A1.2 FSC522\/AS1 Version: A1.2 FSC522\/AS1 Version: A1.2 The Regulatory Framework<\/p>\n

Framework<\/p>\n

Learning Outcomes are the results of your learning.<\/p>\n

The following learning outcomes are assessed using this assessment:<\/p>\n

\u2022 LO2: Apply legal requirements in a situation involving financial advice.<\/p>\n

Instructions<\/p>\n

\u2022 Please submit all of your responses in a single document.<\/p>\n

Assessment<\/p>\n

1<\/p>\n

\u2022 Make a note of the number of each section of the question you are responding to.<\/p>\n

\u2022 Incorporate a header that includes your name, student number, and assessment number, and number the pages.<\/p>\n

\u2022 You must make a reasonable effort to finish your assessment prior to submitting it to the university.<\/p>\n

Submission<\/p>\n

\u2022 Submit your work through the iQualify course you are taking. Assessments sent via email will not be accepted.<\/p>\n

\u2022 After submitting the form, you will receive an automated confirmation.<\/p>\n

When you submit your work, you certify that the work you’ve submitted is your own work.<\/p>\n

Referencing and Plagiarism are two types of plagiarism.<\/p>\n

Refer to the section on APA citing and plagiarism for more information on preventing plagiarism and APA referencing.<\/p>\n

Instructions for the task:<\/p>\n

\u2022 Read the case study provided in the supplementary document Appendix 1 Aotearoa Mortgages and reply to the tasks outlined in the following sections.<\/p>\n

\u2022 Complete all of the duties assigned to you.<\/p>\n

\u2022 It is critical to use accurate citations; take note of how we have cited portions (including sub sections of legislation throughout Modules 1 and 2).<\/p>\n

Task 1: Putting Regulatory Acts into Practice<\/p>\n

a. Financial advice that is regulated<\/p>\n

Is it possible for Nikau and Mia to provide regulated financial advice in this circumstance? Give specific reasons for your response.<\/p>\n

You must comply with the following requirements:<\/p>\n

Please explain whether Nikau is providing financial advice, specifically regulated financial advice, in this circumstance.<\/p>\n

If Mia is providing financial advice, and specifically regulated financial counsel in this circumstance, please explain.<\/p>\n

Please cite and explain the relevant section(s), including sub-section(s), of the Financial Markets Conduct Act 2013 that you believe support your point of view.<\/p>\n

(about 150 words)<\/p>\n

b. Transparency<\/p>\n

In the case study, Nikau goes through a client interview with the client and gives disclosure at two separate points in the process (Transcript 1 and Transcript 3).<\/p>\n

I. Transcript No. 1: What information will Nikau divulge at this point in the process?<\/p>\n

You must comply with the following requirements:<\/p>\n

Nikau’s disclosure statement will include four pieces of information about him and Aotearoa Mortgages Limited, and he must identify and explain each piece of information in order to comply with the Financial Markets Conduct Regulations 2014.<\/p>\n

Remember to incorporate essential material from the case study when explaining the information that Nikau will reveal.<\/p>\n

Nikau will reveal any facts he has at this point in the transcript.<\/p>\n

You must comply with the following requirements:<\/p>\n

22<\/p>\n

Nikau’s disclosure statement will include three pieces of information about him and Aotearoa Mortgages Limited, and you must identify and explain each piece of information in order to comply with the Financial Markets Conduct Regulations 2014.<\/p>\n

Remember to incorporate essential material from the case study when explaining the information that Nikau will reveal.<\/p>\n

[about 300 words]<\/p>\n

(around 300 words)<\/p>\n

Scheduling of Markings<\/p>\n

Competent in the task<\/p>\n

Task 1: Putting Regulatory Acts into Practice<\/p>\n

A: Financial advice that is regulated You must possess the following qualifications in order to do this task effectively:<\/p>\n

In this circumstance, determine whether Nikau provides financial advice and whether such guidance is regulated financial advice.<\/p>\n

Recognize whether Mia is providing financial advice and whether she is providing regulated financial advise in this case.<\/p>\n

Cite the relevant parts and subsections of the Financial Markets Act in an accurate manner.<\/p>\n

The Conduct Act of 2013<\/p>\n

b: Transparency To be qualified for this position, you must be able to:<\/p>\n

Identify and explain four bits of knowledge that will be revealed during transcript 1 in the proper manner.<\/p>\n

Identify and explain three bits of knowledge that will be revealed during transcript 3 in the proper manner.<\/p>\n

Accurately summarize and accurately identify which level of CDD applies in this case, and correctly reference the applicable part of the Act to support your conclusion.<\/p>\n

Explain in detail which identity criteria apply in this case and mention the appropriate clause of the Anti-Money Laundering and Counter-Terrorism Financing Act.<\/p>\n

In this circumstance, accurately describe which verification of identity requirements apply to you and reference the applicable part of the Anti-Money Laundering\/Criminal Justice Act.<\/p>\n

The document that gives a best practice for verifying the customer’s identity and date of birth in this situation should be appropriately named.<\/p>\n

Give an accurate explanation of whether Mia adheres to standard practices when it comes to validating the customer’s name and date of birth in this particular instance.<\/p>\n

Correctly identify an alternate combination of identification criteria that Mia may have requested based on her circumstances.<\/p>\n

In this case, it is necessary to adhere to best practice guidelines.<\/p>\n

Explain in detail the four possible fines that may be imposed on Aotearoa Mortgages if the company fails to comply with the AML\/CFT Act requirements.<\/p>\n

Correctly identify the supervisory entity responsible for monitoring and enforcing Aotearoa Mortgages’ compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act.<\/p>\n

f. The Unfair Trading Practices Act To be qualified for this position, you must be able to:<\/p>\n

Cite the correct section of the book in an accurate manner.<\/p>\n

FTA<\/p>\n

Please provide a thorough explanation as to how this section could have been violated.<\/p>\n

f. Consumer Protection and Guarantees Act To be qualified for this position, you must be able to:<\/p>\n

Cite the correct portions of the CGA in the proper order.<\/p>\n

77<\/p>\n

Please provide a thorough explanation as to how this section could have been violated.<\/p>\n

Licensing is the second task.<\/p>\n

a. TML is an abbreviation for Text Markup Language. To be qualified for this position, you must be able to:<\/p>\n

Identify the six steps that must be completed in order to become operational.<\/p>\n

Clearly define the most important criteria at each stage.<\/p>\n

Accurately determine the type of license that is necessary.<\/p>\n

Clearly define what TML is permitted to do under the terms of the license class.<\/p>\n

Explain in detail the four implications of failing to comply with licensing requirements.<\/p>\n

b. Financial advisors who are new to the industry To be qualified for this position, you must be able to:<\/p>\n

Identify the three stages necessary to become operational correctly.<\/p>\n

Clearly define the most important criteria at each stage.<\/p>\n

Explain five ramifications of failing to comply with an FMCA responsibility in an accurate manner.<\/p>\n

b. Complaints and reprimands To be qualified for this position, you must be able to:<\/p>\n

Correctly identify the five most important components of a successful complaints procedure.<\/p>\n

For each piece, provide an accurate description of one related policy or process.
\nAccurately explain whether Mia complies with best practice for verifying customer name and date of birth in this situation.
\nCorrectly identify an alternative combination of identification requirements Mia could have requested
\nto comply with best practice requirements in this situation.
\nAccurately explain four possible sanctions that may apply to Aotearoa Mortgages for a breach of AML\/CFT Act requirements.
\nCorrectly name the supervising entity responsible for monitoring and enforcing Aotearoa Mortgages compliance with the AML\/CFT Act.
\nf. Fair Trading Act To be competent for this task you must:
\nAccurately cite the correct section of
\nFTA
\nAccurately explain why this section could have been breached.
\ng. Consumer Guarantees Act To be competent for this task you must:
\nAccurately cite the correct sections of CGA
\n77
\nAccurately explain why this section could have been breached.
\nTask 2: Licensing
\na. TML To be competent for this task you must:
\nCorrectly identify the six steps to become operational
\nAccurately outline the key requirements at each step
\nCorrectly identify the class of license required
\nAccurately outline what the class of license permits TML to do
\nAccurately explain four consequences for breaching licensed obligations.
\nb. New-to-industry financial advisers To be competent for this task you must:
\nCorrectly identify the three steps to become operational
\nAccurately outline the key requirements at each step.
\nAccurately explain five consequences for breaching a FMCA duty.
\nc. Complaints To be competent for this task you must:
\nCorrectly identify five key elements of an effective complaints process.
\nAccurately describe one relevant policy or process for each element.<\/p>\n","protected":false},"excerpt":{"rendered":"

FSC522\/AS1 Ver: A1.2 FSC522 The Regulatory Framework Learning Outcomes This assessment assesses the following learning outcomes: \u2022 LO2: Apply legal obligations in a financial advice\u2026<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7643,7642,7645,7644],"tags":[7678,8989,8988,7387,633,8991,630,8987,8994,8467,15,8990,7656,7571,8993,66,8992],"class_list":["post-105118","post","type-post","status-publish","format-standard","hentry","category-custom-same-day-essays","category-custom-writings-writers","category-do-my-essay-mla-format","category-write-my-paper-hub-writers","tag-best-custom-paper-writing-service","tag-best-online-paper-writing-service","tag-best-paper-writing-service","tag-best-research-paper-writing-services","tag-cheap-research-paper-writing-service","tag-cheapest-paper-writing-service","tag-college-paper-writing-service","tag-free-paper-writing-service","tag-free-term-paper-writing-service","tag-paper-writing-service","tag-paper-writing-service-reddit","tag-professional-paper-writing-service","tag-someone-to-write-my-paper","tag-websites-that-write-papers-for-you","tag-what-is-the-best-paper-writing-service","tag-write-my-paper","tag-write-my-paper-for-me-free"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/105118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/comments?post=105118"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/105118\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=105118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=105118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=105118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}