Read the Commonwealth Bank of Australia: Rogue One case study and answer the following questions:

1. What areas of law are pertinent to this article? Describe what the identified areas of law cover, and explain how they are relevant to the issues raised in the article.

2. Jack Welch, Former CEO of General Electric, once stated, "Show me a company's various compensation plans, and I'll show you how its employees behave" What message do you think he was trying to convey by this statement? To what extent do you think CBA's remuneration plan influenced the corporate culture and employee behaviour in CBA? What changes, if any, would you make to the remuneration plan?

3. CBA had an excellent reputation amongst its customers but CFPL severely damaged it. What are the challenges faced by an organisation like CBA in promoting ethical behaviour, compliance and good governance throughout the group?

4. Who are the main players in the regulation of the financial industry in Australia? Outline some of the changes to the financial planning industry that have been brought about by the recently constituted Financial Adviser Standards and Ethics Authority (FASEA)?

5. ASIC is the corporate watchdog in Australia. Why was it criticised for its handling of the investigation into the dealings of CFPL? List three constraints, not mentioned in the case study, which could limit the ability of this regulatory body to properly serve its function? (7 marks)