The topic Description for the term paper is provided below:
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry Links to an external site. was created to examine the misbehaviour of financial services entities and their agents. In its Final Report, the Commission wrote that:
[I]n almost every case, the conduct in issue was driven not only by the relevant entity’s pursuit of profit but also by individuals’ pursuit of gain, whether in the form of remuneration for the individual or profit for the individual’s business. Providing a service to customers was relegated to second place. Sales became all important. Those who dealt with customers became sellers. And the confusion of roles extended well beyond front line service staff. Advisers became sellers and sellers became advisers
This assignment is designed to help you develop your research, analytical, and professional writing skills. Good writing skills are one of the most important graduate attributes sought after by employers. You will need to become adept at finding relevant resources.
In this assignment you are to:
Discuss how the incentive structure in financial services firms can lead sales to become “all important”, with customers “relegated to second place”.
Examine what evidence there is that conflicts of interest created by incentive structures can influence financial advisers and lead to poor outcomes for customers.
In answering the question, you should:
Apply the concepts, theories and models that you have learned in class
Discuss theoretical issues and empirical evidence. Set out a logical argument and draw on relevant evidence when making assertions
Use appropriate referencing where an idea has been drawn from a scholarly source (scholarly journal articles, working papers, research books and other scholarly publications). Referencing should be complete, comprehensive and consistent. This implies that any reference that you list should allow the reader to go to that source and confirm that the source is correct and the arguments espoused in the writing are in fact derived from that source. Harvard referencing is recommended for referencing. A Harvard Referencing Guide is provided on Canvas.
The word limit for this assessment is 1,500 words (excluding the abstract and bibliography).
Suggested Reading
You are expected to do some independent research in writing this paper. This research should inform your discussion of the relevant issues and provide empirical evidence of what is happening ‘in the real world’.
Factiva and Business Source Premier will help you find articles in the press. Links to each can be found here. You should search in reputable sources such as the Economist Magazine, Australian Financial Review and the Wall Street Journal etc. You should avoid articles from sources such as the Daily Telegraph. Industry and government reports should also prove useful in writing this paper.
For those who wish to excel, extend your search to academic articles. Google Scholar is a useful source of academic references. You should also use Econlit publication database depository accessible through the university library.
Industry and government reports could also prove useful.
The following reading provides a start:
An introduction to the behaviour of financial advisers is in Chapter 3 of the report https://www.royalcommission.gov.au/banking/final-report Links to an external site..
In a report to the Royal Commission Links to an external site., Cornell University Professor Sunita Sah answered four questions on conflicts of interest in advice. Her answer to the first question provides a short overview of the evidence and points to the major references in the area. (A copy of this report is also available here on Canvas).
Structure
The essay should include:
A short summary or abstract (not exceeding 150 words)
A bibliography and a list of data or other sources at the end.
Footnotes should be avoided. If figures and/or tables are used, they should be placed in the body of the essay.
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry
Links to an external site. https://www.royalcommission.gov.au/banking/final-report
https://www.royalcommission.gov.au/banking/final-report
Links to an external site. https://www.royalcommission.gov.au/banking/final-report
report to the Royal Commission
Links to an external site. https://sunitasah.com/media/pdfs/Sah-2018-Conflicts-of-interest-and-disclosure-Banking-Royal-Commission.pdf
Please keep the top, header, and footer of the article so I can add my ID to the file name, also, advised to keep copies of assignment submission, drafts and any other research materials as evidence of your research and writing process. Try to avoid using artificial intelligence AI. At the same time, the model that I have used in class also provied in the list,please see the PDF doucements if it is useful.