Financial Regulations

Unit code: BEO2016 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
City Campus
Prerequisites
N/A
Overview
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Overview

Understand how the regulatory system surrounding the provision of financial advice has been developed to ensure that the financial planning industry is managed effectively and ethically. You’ll learn how recent financial sector reforms have been implemented to help ensure financial planners act in the best interests of their clients

You will gain an understanding of :

  • Key elements of law and professional codes of conduct protecting the recipients of financial advice
  • Key financial sector reforms such as the Hayne Better Advice Act (2021), and the Financial Planners and Advisers Code of Ethics (2019),
  • New prescriptions in the corporations Act (2001)

You will examine recent cases that led to reforms and how these regulations will assist the industry to provide advice that meets the needs of their clients.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Analyse and apply the Financial Planners and Advisers Code of Ethics for the provision of appropriate and effective financial advice;
  2. Apply the Hayne Royal Commission response to professional and ethical dilemmas outlined in the Royal Commission into the Financial Advice Industry;
  3. Research reforms mandated in the Corporations Act (2001) and consolidate these with best practice in the financial services industry; and,
  4. Professionally communicate legal reforms as applied to Financial Planners.

Assessment

For Melbourne campuses

Assessment type: Case Study
|
Grade: 20%
Analysis of professional breaches of conduct and ethics
Assessment type: Report
|
Grade: 20%
Hayne Royal Commission response
Assessment type: Assignment
|
Grade: 20%
Application of Corporations Act reforms
Assessment type: Test
|
Grade: 40%
Final test

Required reading

The Regulation of Financial Planning in Australia
Sweetman, McInnes (2020)| Routlege

As part of a course

This unit is not compulsory for any specific course. Depending on the course you study, this unit may be taken as an elective.

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