Learning Outcomes

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FSC522 The Regulatory
Framework
Learning Outcomes
This assessment assesses Learning outcomes 3 and 4:
LO3: Apply good conduct, ethical, and professional obligations in a financial
advice situation.
LO4: Outline the six-step advice process.
Instructions
Submit all your answers in one document.
Write the number of each part of the question you are answering.
Create a header with your name, student number and assessment number,
and number your pages.
You must make a reasonable attempt to complete your assessment before
you submit.
Submission
Submit your work through your iQualify course. Emailed assessments will not
be accepted.
You will receive an automated notice following submission.
By submitting, you confirm that the work presented is your own original work.
Referencing and Plagiarism
Refer to Referencing and plagiarism for information on APA referencing and avoiding
plagiarism.
2
Assessment
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Task Instructions:
Read the case study provided in the separate document Appendix 2
Tohutohu Mokete Limited (TML) to answer Task 4.
Complete all five tasks.
Task 1: Hierarchy of the financial services framework
You have been asked to mentor a group of trainee advisers. One of your first tasks is
to give a short presentation to the group on the hierarchy of the financial services
framework.
Prepare the text of your presentation explaining each of the following layers of the
regulatory framework and providing
one brief example of each:
legislation (Acts)
regulations
codes of practice
principles of professionalism
good conduct.
(300 words)
Task 2: The six-step advice process
For this task assume you are a financial adviser giving regulated financial advice
to one of your clients in
one of the following areas:
investments
life and health insurance
general insurance
residential property lending.
Each step in the six-step advice process has a specific purpose, and
documentation plays a key role in completing each step. Throughout the process
you must comply with a range of legislation.
You are required to:
a. Identify each step in the six-step advice process.
b. Explain the purpose of each of the steps in the six-step advice process.

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c. Identify one piece of documentation that you will use to complete each step
and explain why the document is required.
d. For each step in the process, describe
one example of an activity that is
relevant to the step and consistent with legislation. Across the six steps, use
at least
four different sections of legislation and clearly align with your
choice.
(600 words)
Task 3: The Code of Professional Conduct for Financial
Advice Services
a) Standard 9 of the Code of Professional Conduct for Financial Advice
Services (the Code) requires all advisers to undertake continuing
professional development (CPD).
You are required to:
i. Create a CPD plan. Alternatively, you may submit your current CPD
plan, provided it meets the criteria set out below.

ii. The plan must include at least five activities, which must be a
combination of formal and self-directed learning.

 

iii. The plan must include the following information. Table format is
preferred, but not compulsory:

 

Training activity Objective
(what you
are aiming to
improve)
Due
Date
Type of
Training
(Formal or
Self
directed)
Form of
Training
(for
example,:
NZQA
qualificatio
n, webinar,
or
conference)
Time
(hours)
Completion
Status
(completed
or not
completed)

(200 words)
b) Standards 1-5 set out the standards for client care and ethical behaviour.
For each of Standards 1-5, provide one example of how you comply with that
standard in your role as an adviser.
If you are not an adviser, choose an adviser role from one of the following
areas:
investments
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life and health insurance
general insurance
residential property lending.
(250 words)
Task 4: Principles of professionalism
Read through case study – Tohutohu Mokete Limited (TML) (Appendix 1) before
attempting this task.
You are required to:
Select six principles of professionalism.
For each principle selected, provide an example from the case study
(background information and transcript) that illustrates compliance with that
principle.
(200 words)
Task 5: Good conduct
For this task assume you are one of three directors at Aotearoa Financial Planning
(AFP), a financial advice provider. You are all financial advisers and manage your
own portfolio of clients. The business also employs 12 other financial advisers and
nominated representatives, each with their own clients, and two support staff.
As directors, you are currently developing a good conduct strategy for the business.
This will be based on the Financial Markets Authority’s five factors of Good Conduct
profile.
For each of the five factors of Good Conduct you are required to:
a. Identify the factor.
b. Outline two processes or policies for AFP that support each factor.
(300 words)
Marking Schedule

Task Competent
1. Hierarchy of the financial services
framework
To be competent for this task you must provide
an accurate explanation of and provide one
valid example for each of the following layers
of the regulatory framework:

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legislation (Acts)
regulations
codes of practice
principles of professionalism
good conduct.
2. The six-step advice process To be competent for this task you must:
correctly identify each step in the six
step advice process
accurately explain the purpose of each
step
correctly identify one piece of
documentation used at each step
accurately explain why each document
is required
accurately describe an activity that is
relevant to each step
correctly apply a piece of legislation that
is consistent with the activity.
use at least four different sections of
legislation across the six steps.
3. The Code of professional conduct for
Financial Advice Services
a) Standard 9: Continuing professional
development (CPD).
To be competent for this task you must create
a continuing professional development (CPD)
plan that includes:
at least five learning activities
a mix of formal and self-directed
learning
the seven pieces of information set out
in part iii of the task.
b) Standards 1-5: Client care and ethical
behaviour.
To be competent for this task you must:
provide a valid example of compliance
with each of standards 1-5.
4: Principles of Professionalism To be competent for this task you must:
select six relevant principles of
professionalism
for each principle selected, provide a
relevant example from the case study
that shows compliance with that
principle.
5. Good Conduct To be competent for this task you must:
correctly Identify the five factors
accurately outline two processes or
policies for AFP that support each
factor.

 

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