FSC411 The New Zealand Financial Services Regulatory Framework Level 4 Assignment Sample

This is the sample assignment of FSC411 The New Zealand Financial Services Regulatory Framework Level 4.This online course will allow you to explore the ins and outs of finance, in order to take advantage of jobs within the field. You can also learn how money is created for use by banks or even your own personal banking needs!

The Financial Services Industry has seen a lot change over recent years with new regulations imposed from both governments around the world and international organizations like World Trade Organization (WTO), International Monetary Fund (IMF) etc., which have changed how people transact financial transactions all across globe. Therefore this industry requires professionals who are skilled at identifying where these changes are happening so that they may mitigate their impact on clients’ business interests. This Online Course helps job seekers enter into or progress careers as employees in various segments.

Assignment Solutions of FSC411 The New Zealand Financial Services Regulatory Framework Level 4

Assignment Activity 1. Outline financial services industry codes of practice, legislation, and regulations – including complaint handling.

The growth of the Financial Services sector in recent decades has seen increased regulatory scrutiny. There are now a number of Codes contained within Regulations and Statutes, which govern an institution’s conduct and set minimum standards of behaviour for its operations.

Financial services legislation covers aspects such as unfair trading, consumer credit (including credit cards and store cards), mortgages, insurance contracts, electronic money stamps tax credits etc.

IT security requirements for financial institutions, anti terrorism laws relating to bank transactions and international wire transfers are dealt with in overseas trade law statutes.

Assignment Activity 2. Apply codes of practice, legislation, and regulations to a range of standard situations.

A code of practice is a document on quality control issued by an authority or body (i.e. government) to provide guidance on safe working conditions and acceptable standards in any given industry. Codes of practice will often address premixed chemical hazards, environmental hazards, household and industrial chemicals within the following areas:

storage requirements, disposal methods, labeling requirements for containers found in households, spill kits for both emergencies and for routine maintenance tasks. The Code often provides guidance when using particular products correctly (glue instead of solvent to seal a small area), or alternatives which are safer (using PTFE tape instead of thread sealant).

Assignment Activity 3. Apply principles of professionalism when providing financial services

There are many situations where professionals need to maintain their professionalism. Some of these include when dealing with past relationships, managing conflicts, and working on customer service.

This is why it is imperative that professionals in any industry understand the importance of this trait and always work to keep a professional demeanor when working in these different scenarios. Below are just a few ways that professionals might apply principles of professionalism as they provide financial services.

When providing financial services for your clients, you should be polite at all times while being trustworthy and honest about what you’re doing or recommending for them financially. If they ask questions about something you don’t know as an expert on, it’s not okay to just avoid.

Assignment Activity 4. Outline the ISO 22222 ‘Six Step Process for personal financial advice

Allow me to outline the six steps for you.

1.The first step by ISO 22222 is to get a sense of your current financial situation, in order to better understand what your needs are.

2.The next thing is to determine your investment objectives and timeline.

3.The third step is about evaluating different investment approaches that meet specific criteria and considering their risk-reward tradeoffs.

4.The fourth step after completing that task is find an approach worth investing in, and then do some research on the available alternatives at our disposal. Given all of this information, it’s important not to just make a buying decision without doing more research! After we have done enough research for our desired alternative, it will be time to decide if we want too proceed with any additional actions that need to be taken.

5.The fifth and final step in the process is where we must decide if we want to sell or rebalance our holdings when necessary, which are covered in later chapters of this article series.

6.If not, then the final step is buying and holding our desired investment alternative for a long period of time.

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