Essay Details and Requirements This assessment requires you to write an essay addressing the impact the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission) has on the key participants in the financial system.

Your selected company will be assigned by your class teacher and must be one of the following companies:

Company

Commonwealth Bank of Australia

Westpac Banking Corporation

National Australia Bank

Australia and New Zealand Banking Group

AMP Superannuation

The Royal Commission was established on 14 December 2017 after the government of the day succumbed to the opposition and public pressure.

While companies resisted calls for a Royal Commission into their business dealings, the findings from the Royal Commission not only exposed significant misconduct from these companies, but also revealed the lenient behaviour of regulators in dealing with such misconduct.

Essay Question:

Examine how the share price of your allocated company was affected by the Royal Commission and pick one of the following recommendations from the Royal Commission that you think is the most important for your company.

Recommendation 1.2 - Best interests duty

Recommendation 1.7 - Removal of point-of-sale exemption

Recommendation 1.8 - Amending the Banking Code

Recommendation 1.17 - BEAR product responsibility

Recommendation 3.2 - No deducting advice fees from MySuper accounts

Recommendation 3.3 - Limitations on deducting advice fees from choice accounts

Resources required (helpful hints):

i. The Royal Commission final report can be found here: https://financialservices.royalcommission.gov.au/Pages/reports.aspx#final

ii. Your essay should also include charts, tables or figures of your company's share price, before and after the Royal Commission. Please make sure that these charts, tables or figures are fully interpreted and clearly linked to the argument. iii. This is an essay, therefore establish an argument with supporting evidence (examples) and convince the reader of your perspective. It is similar to telling a story.

iv. Ensure the Appendices are inserted after the Reference List. FIM Individual Essay Guidelines 2024.01 3 SUBMISSION INFORMATION & GUIDELINE

Please note the following points: 1) Students are required to upload their essay online through Turnitin on Moodle by the end of Week 10. 2) You must include your full name and student number on the first page of your assignment. 3) This is an online submission only assignment. The digital receipt generated by Turnitin and sent to the student's email account must be retained as proof of submission. 4) Only submit WORD documents NOT PDF. 5) The essay must be word processed in Arial font, 12 point with a line-spacing of 1.5. 6) Students are expected to submit 500 words (10%) (excluding the reference list and appendices). 7) It is not necessary to include a cover page, table of contents. If included, these sections will not contribute towards the total word count or the total marks. 8) Please refer to Section 3 of the Learning Guide for details on Late Submissions. 9) Your submission will be marked out of 40 marks and is worth 15% of your final grade. 10) The Essay-Marking Criteria will show you how your mark will be determined and provide a form of additional feedback. A copy of the Marking Guide is also available in the Learning Guide. 11) Please note this is an individual assignment and students should work independently. Any evidence of collusion will be reviewed and may lead to the application of the Student Misconduct Rule. 12) You must include a reference list and in-text citation wherever used. Please include any references you have used and cited in your report. You must use the Harvard referencing system as per the guide available from the Western Sydney University library website. For guidance on citation and referencing, please refer to the URL links below. This will ensure that you use the correct referencing approach. Citation guide http://library.westernsydney.edu.au/main/guides/referencing-citation/i%3aCite Harvard UWS referencing guide http://library.westernsydney.edu.au/main/sites/default/files/cite_Harvard.pdf While attempting this task you are STRONGLY reminded of the importance of maintaining the