1
\nFSC522 The Regulatory
\nFramework
\nAssignment 1
\nOverview
\nThis assessment assesses learning outcome 2:
\n\u2022 LO2: Apply legal obligations in a financial advice situation.
\nNote: You must submit your work through the assignment submission link in the course. Upload your assignment, then use the \u2018Save\u2019 and \u2018Submit assessment\u2019 buttons \u2013 or we will not receive your assignment.
\nYou will get an electronic receipt and your work is then logged and tracked through our system. Open Polytechnic will not accept assignments emailed directly to lecturers.
\nStudent Instructions
\n1. This assignment covers three hypothetical case studies that require you to apply legal obligations to a financial services situation.
\nYou should read through Case Study 1 before attempting Task 1 and read through Case Study 2 before attempting Task 2.
\nYou will find both cases studies – Appendix 1 and Appendix 2 \u2013 below this assignment on the Assignment 1 page.
\n2. You are required to answer all three tasks.
\n3. The topic (sample nursing essay examples by the best nursing assignment writing service)s covered in this assessment are:
\n\u2022 Task 1 \u2013 Case study 1: Aotearoa Insurance
\n\u2022 Task 2 \u2013 Case study 2: Aotearoa Bank
\n\u2022 Task 3 \u2013 Case study 3: Licensing
\n4. You will be assessed on your overall presentation. Each answer should be presented in a professional manner. This means:
\n\u2022 Minimal spelling and grammatical errors.
\n\u2022 Written in terms that an audience with little financial knowledge will understand.
\n5. For each task, we have provided you with a suggested word count. Note that the word count is for guidance only and you will not be penalised for being under or over the suggested word count, provided you fully answer the task.
\nTask 1
\nRead through case study 1 (Appendix 1) before attempting this task.
\na) Regulated financial advice
\nDoes David give regulated financial advice in this situation? Give reasons for your answer.
\nYou are required to:
\n\u2022 State whether or not David gives regulated financial advice in this situation.
\n\u2022 Cite and explain the relevant section(s) of the Financial Markets Conduct Act 2013 that supports your view.
\n(50 words)
\nb) Privacy Act 2020
\nDavid collects personal information from Kate. Does he collect this personal information in accordance with the privacy principles?
\nYou are required to:
\n\u2022 Identify the four privacy principles that cover the collection of personal information.
\n\u2022 For each of the four principles, illustrate, with reference to the case study, whether David complies with each principle.
\n(100 words)
\nc) Optional benefit \u2013 hiring a car
\nKate is adamant that she made it clear she needed cover for the cost of hiring a car. Her comments suggest that Aotearoa Insurance may have breached consumer legislation. Which Act may it have breached and how?
\nYou are required to:
\n\u2022 Identify the Act that Aotearoa Insurance may have breached.
\n\u2022 Cite the two key sections of the Act that may have been breached.
\n\u2022 Explain why these two key sections may have been breached.
\n(100 words)
\nd) Human Rights Act
\nKate accuses Aotearoa Insurance of discrimination. Is there any
\nevidence that Aotearoa Insurance has practised discrimination in its dealings with Kate?
\nYou are required to:
\n\u2022 State whether or not Aotearoa Insurance has practised discrimination in its dealings with Kate.
\n\u2022 Justify your decision with reference to the relevant section(s) of the Human Rights Act.
\n(80 words)
\ne) Complaints
\nDoes David apply the correct process for handling complaints?
\nYou are required to:
\n\u2022 State whether or not David has followed the correct process for handling Kate\u2019s complaint.
\n\u2022 Justify your decision with reference to Aotearoa Insurance\u2019s obligations as a member of the Insurance and Financial Services Ombudsman Scheme.
\n(50 words)
\nTask 2
\nRead through Case Study 2 (Appendix 2) before attempting this task.
\na) Regulated financial advice
\nDoes Serena give regulated financial advice in this situation? Give reasons for your answer.
\nYou are required to:
\n\u2022 State whether or not Serena gives regulated financial advice in this situation.
\n\u2022 Cite and explain the relevant section(s) of the Financial Markets Conduct Act that supports your view. (50 words)
\nb) Anti-Money Laundering and Countering Financing of Terrorism Act
\n2009 (AML\/CFT Act)
\nSerena tells Chris she needs personal information and documentation from him to satisfy Aotearoa Financial Planning\u2019s\u2019 obligations under the AML-CFT Act. What are these obligations?
\nYou are required to:
\n\u2022 Identify the appropriate customer due diligence requirements in this situation.
\n\u2022 Explain the personal information and documentation Serena needs to meet those obligations.
\n\u2022 Cite the sections of the AML\/CFT Act and Amended Identity Verification Code of Practice 2013 that apply in this situation.
\n(250 words)
\nc) Financial Markets Conduct Act (FMCA)(Part 2) and Fair Trading Act
\n(FTA)
\nIn the process of checking if Chris understands how KiwiSaver works, Serena avoids a potential breach of the FMCA (Part 2) and the FTA.
\n\u2022 What is this potential breach and how does she avoid it?
\nYou are required to:
\n\u2022 Explain the potential breach, and cite the specific section of the FMCA (Part 2) and the specific section of the FTA that apply.
\n\u2022 Identify the action Serena takes to avoid the potential breach.
\n\u2022 If there had been a breach, which regulator would most likely hear the case?
\nYou are required to:
\n\u2022 State which regulator would most likely hear the case.
\n\u2022 Explain the arrangement between the two regulators of the FMCA (Part 2) and the FTA for hearing cases.
\n\u2022 Cite the document that details this arrangement.
\n(100 words)
\nd) Disclosure
\nDuring their first meeting, Serena provides Chris with a disclosure statement and explains key information. During their second meeting, Serena points out that information about complaints and dispute resolution processes is available on Aotearoa Financial Planning\u2019s website. She also explains other key information.
\n\u2022 First meeting: What information must Serena disclose at this stage?
\nYou are required to:
\n\u2022 Identify and explain three pieces of information Serena\u2019s disclosure statement must include at this stage to meet obligations under the Financial Markets Conduct Regulations 2014.
\n\u2022 Include only information that is directly relevant to the case study.
\n\u2022 Second meeting: What information must Serena disclose at this stage and what information about complaints and dispute resolution processes will be displayed on Aotearoa Financial Planning\u2019s website?
\nYou are required to:
\n\u2022 Identify and explain two further pieces of information Serena\u2019s disclosure statement must include at this stage to meet obligations under the Financial Markets Conduct Regulations 2014 (other than a statement that information about Aotearoa Financial Planning\u2019s complaints and dispute resolution processes is available on their website).
\n\u2022 Explain what information about complaints and dispute resolution processes will be displayed on Aotearoa Financial Planning\u2019s website.
\n\u2022 Include only information that is directly relevant to the case study.
\n(200 words)
\ne) Duties
\nDisclosure is one example of a range of duties that Serena must comply with. Apart from disclosure, which other duties are evidenced in this case study?
\nYou are required to:
\n\u2022 Select three duties.
\n\u2022 For each duty selected, provide an example from the case study (background information and transcript) that illustrates compliance with that duty.
\n(100 words)
\nTask 3
\nFrank has many years\u2019 experience giving financial advice. He returns to New Zealand after 8 years working in Australia in an adviser role. He wants to continue in an advice role now he\u2019s back in New Zealand. Frank has reviewed the different operating models for giving financial advice in New Zealand and has narrowed his options to three:
\n\u2022 Single adviser business.
\n\u2022 Financial adviser engaged by an established financial advice provider.
\n\u2022 Nominated representative engaged by an established financial advice provider.
\na) Explain the three models in terms of the different pathways Frank must follow before he can operate under that model.
\nYou are required to:
\n\u2022 Identify the steps in the pathway for each model.
\n\u2022 Explain the key requirement(s) at each step.
\n(400 words)
\nb) If you were in Frank\u2019s position, which model would you choose and why?
\nYou are required to:
\n\u2022 Provide one advantage and one disadvantage for each of the three models.
\n\u2022 State your choice of model.
\n\u2022 Give one reason to support your choice.
\n(100 words)
\nAssignment Checklist
\nHave you completed each task?
\nTask Breakdown Words Checklist
\nTask 1
\nCase Study 1:
\nAotearoa Insurance Regulated financial advice 50
\nPrivacy Act 2020 100
\nOptional benefit \u2013 hiring a car 100
\nHuman Rights Act 80
\nComplaints 50
\nTOTAL 380
\nTask 2
\nCase Study 2:
\nAotearoa Financial
\nPlanning Regulated financial advice 50
\nAnti-Money Laundering and
\nCountering Financing of
\nTerrorism Act 2009 (AML\/CFT
\nAct)
\n250
\nFinancial Markets Conduct Act
\n(FMCA)(Part 2) and Fair
\nTrading Act (FTA) 100
\nDisclosure 50
\nDuties 100
\nTOTAL 550
\nTask 3
\nCase Study 3:
\nLicensing Pathways 400
\nModel of choice 100
\nTOTAL 500—<\/p>\n
—-<\/p>\n
1 FSC522 FSC522 FSC522 FSC522 FSC522 FSC<\/p>\n
Framework<\/p>\n
1st Assignment<\/p>\n
Overview<\/p>\n
The learning outcome 2 is assessed in this examination.<\/p>\n
\u2022 LO2: In a financial advice situation, apply legal duties.<\/p>\n
Please note that you must submit your work through the course’s assignment submission site. Upload your assignment, then use the \u2018Save\u2019 and \u2018Submit assessment\u2019 buttons \u2013 or we will not receive your assignment.<\/p>\n
You will get an electronic receipt and your work is then logged and tracked through our system. Open Polytechnic will not accept assignments emailed directly to lecturers.<\/p>\n
Student Instructions<\/p>\n
1. This assignment covers three hypothetical case studies that require you to apply legal obligations to a financial services situation.<\/p>\n
You should read through Case Study 1 before attempting Task 1 and read through Case Study 2 before attempting Task 2<\/p>\n
—<\/p>\n
Individual written essay (assessment 2A) (20 percent ) eek 6 is the deadline. The word count should be between 1000 and 1200 words. Human rights apply to all people, regardless of their gender, race, nationality, ethnicity, language, religion, age, disability, or other status. For this assessment activity, you must write an essay (WOO – 1200 words) about one of the following groups who have not had their human rights preserved or promoted at various times and in diverse contexts:
\nPeople with disabilities (people with disabilities) (people with disabilities) (people with disabilities) (<\/p>\n
Refugees<\/p>\n
Indigenous Australians and Torres Strait Islanders<\/p>\n
Children<\/p>\n
Women<\/p>\n
You must research, analyze, and draw om important human rights documents (mentioned below) and current evidence in your essay to explain:<\/p>\n
Governments’ obligations to promote and safeguard human rights and liberties<\/p>\n","protected":false},"excerpt":{"rendered":"
1 FSC522 The Regulatory Framework Assignment 1 Overview This assessment assesses learning outcome 2: \u2022 LO2: Apply legal obligations in a financial advice situation. Note:\u2026<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8773,8771,8772,8770,8775,8776,7685,8774,8769],"tags":[1400,613,142,7594,1394,7598,7595,7593,7597,7599,7601,7590,7596,133,7655,7656,7591,7592],"class_list":["post-91967","post","type-post","status-publish","format-standard","hentry","category-all-assignment-help","category-assessment-help-online","category-assessment-help-online-in-australia","category-assessments-help","category-australia-assignment-help","category-instant-assignment-help","category-my-assignment-help","category-sample-assignment-help","category-thesis-help","tag-best-custom-essay-writing-services","tag-best-dissertation-writing-services-uk","tag-best-online-essay-writing-services","tag-cheap-custom-essay-writing-services","tag-custom-research-paper-writers","tag-custom-research-papers-writing-service","tag-essay-writer-websites","tag-essay-writing-service-quality-cheap","tag-free-research-paper-writing-service","tag-help-me-write-a-research-paper","tag-i-need-help-with-my-dissertation","tag-professional-dissertation-writing-service","tag-quick-essay-writing-service","tag-research-paper-writing-service-cheap","tag-service-writing-my-essay-write-custom","tag-someone-to-write-my-paper","tag-top-rated-dissertation-writing-services","tag-top-uk-dissertation-writing-services"],"_links":{"self":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/91967","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=91967"}],"version-history":[{"count":0,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/posts\/91967\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/media?parent=91967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/categories?post=91967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studyproessays.com\/help\/wp-json\/wp\/v2\/tags?post=91967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}