FSC521: The Financial Services Industry - Financial Institutions and the Tax System - Accounting and Finance Assignment Help

Assignment Task:

You have done well to complete the second assignment for FSC521 - The Financial Services Industry, however you have not shown competence for all the requirements and you will need to adjust the applicable question to reach full competency. Please see the question details for further details. 
Task 1a – Financial institutions 
Task 2a – The impact of natural disasters and changes in the OCR. 
Task 2b – The impact of natural disasters and changes in the OCR. 
Task 3a – Market Identification 
Task 3b – Market comparison 
Task 3c – Financial Markets 
Task 3d – Investment clock 
Task 4 – Regulators 
Overall presentation 
Please see my feedback on each question for guidance. 
Please download and save this results sheet to your computer. Once you have made the required adjustments to your question, upload your assignment document again for remarking. 
We strongly encourage all re-submissions to occur within 7 days of this feedback being received as the question topics will still be fresh. Nga mihi, 
Jennifer Lee 
Your submission link will be opened for your resubmission. Resubmissions must be submitted within your study period. The standard timeframe for resubmissions is 7 days unless otherwise advised by your marker. Please ensure you remove your original submission and then upload your updated file before submitting. 
Task 1: Financial institutions and the tax system 
Friday, October 9, 2020 Page 1 of 7

Part A 
Sanjay currently earns $95,000 per annum and his total income has exceeded $90,000 for the past two years. He inherits $50,000 and wants to place the money on term deposit for 12 months. He asks for advice on the range of financial institutions that offer this product. To illustrate the range of providers for Sanjay: 
• Select three different types of financial institution currently operating in the New Zealand financial services industry with whom Sanjay can place his money on term deposit. 
• For each financial institution, state their name and type of financial institution, and provide a link to the page promoting term deposits. • Discuss the similarities and differences between the three financial institutions you selected in terms of: 
o their structure 
o how they are regulated 
o the services they provide. 
(200 words 
Assessment Criteria Result: Not Yet Competent 
Answer should: 
• Identify a bank and two NBDTS, or three different types of NBDT. 
• Explain at least one point of similarity and one point of difference for each of the following categories: 
o their structure 
o how they are regulated 
o the services they provide. 
Marking Comments 
You provided links for the two different types of financial institutions currently operating: Heartland Bank - a Registered Bank, Asset Finance - (NBDT). Your third example of General Finance Ltd is a Finance company just like Asset Finance. You put it under the category of Credit Union, but it is not a Credit Union. Although you have set up your answer clearly, you have missed the mark on most of your answers. You were to show the similarities and differences for the three financial institutions you chose for the three categories of Structure, regulation and services. 
For structure you have focused on what they do and not their structure. And for Regulation we are asking for you to say how they are regulated, you have focused on who regulates. Your answer for services was slightly more on target. You provided a list more than providing a comparison of three financial institutions so it is unclear how it is their services differ. 
Note: NBLIs are not relevant to this question as they do not provide term deposits, but please note the following statement is incorrect 'Banks, NBDTs and NBLIs can be considered as financial institutions and are regulated by the Reserve Bank of New Zealand' - NBLIs are not regulated by RBNZ. 
To complete this task: Please find a third financial institution, it must be a different type from the two you have already selected. Then please explain at least one point of similarity and one point of difference for each of the following categories: 
o their structure 
o how they are regulated 
o the services they provid
 

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