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MAA250 : Ethics And Financial Services - Royal Commission’s - ASX Corporate Council - Article Writing Assignment Help
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Ethics And Financial Services Assignment Help
TASK “The royal commission's interim report on Friday lashed the banks, insurers, wealth managers, financial planners, mortgage brokers and superannuation providers for a culture of greed that it concluded was the result of remuneration misincentives and a failure to follow and enforce rules” “Mr Frydenberg [Treasurer] told The Australian Financial Review in an interview yesterday that the interim report made clear the financial sector must significantly lift its standards and start putting people before profits, and that the regulators must heed the message about better enforcement of existing laws” 1 . By applying three or more specific cases used in ‘Volume 2 case studies’ of the Interim report of the Royal Commission, and by applying agency theory, explain how and why “a culture of greed ... was the result of remuneration misincentives” (Kehoe et al, 2018, p.1). (1,000 words) (50 marks) 2 . The ASX Corporate Council provides eight central corporate governance principles and recommendations (2014, 3rd edition) that companies listed on the Australian Securities Exchange must comply with. Given that listed banks and financial services’ companies must comply with the ASX corporate governance principles, why are there so many examples of poor (unethical) corporate behaviour, as has been revealed by the Royal Commission? Do you think Mr Frydenberg’s call that the “financial sector must significantly lift its standards and start putting people before profits” (Kehoe et al, 2018, p.1) can be achieved? Provide justification for your response. 3 . Compare the behaviour and actions of the Australian banking and financial services sector to the USA banking and financial services organisations implicated with the Global financial crisis (2008). Do you think that a repeat of the Interim Royal Commission findings can be prevented in Australia if the warning of Mr Frydenberg [Treasurer] “the regulators must heed the message about better enforcement of existing laws” (Kehoe et al, 2018, p.1) is followed? Justify your stance by providing cases and discussing any relevant legislation/regulation and the enforcement of legislation/regulation (or lack thereof) in those cases.The above question has been solved by our Ethics And Financial Services experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.