Legally analyse that case and the role of austrac

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Reference no: EM132037613

ASSIGNMENT - ANSWER BOTH PARTS

A. Recently Austrac has taken proceedings against the Commonwealth Bank of Australia for breach of money laundering laws.

Legally analyse that case and the role of Austrac in corporate regulation.

In the course of your answer, also address the relationship between the regulatory bodies in corporations law - in particular what is the role of ASIC and how has its remit increased over recent years?

B. The Banking Royal Commission 2018 is a watershed in commercial regulation in Australia. Critically discuss its terms of reference as well as some of the key regulatory issues it has considered thusfar.

As a small component of your answer, consider whether there has been a similar Royal Commission (or like enquiry) in another Commonwealth jurisdiction.

If so, what did it conclude about regulation? How, if at all, is this relevant to corporate regulation?

Word Limit: Assignment -1500-2000 words. Note that your emphasis should not be on length but rather on clarity and precision of thought and expression. You must indicate the length of the assignment on your paper.Wordcount not recorded- Students will be penalized 2 marks for failing to record the correct word count on the cover sheet or assignment.Wordcount exceeded - Students will be penalized 1 mark for each 100 words (or part thereof after the first 100 words) above the 1,500-2000word limit.

Style Guide: include footnotes or endnotes and a bibliography. These are not included in calculating the paper's word length (unless the footnote is used for extremely long passages of text that may run the risk of circumventing the word limit).Referencing for all Law assignments must be based on the following - Australian Guide to Legal Citation (latest edition) University of Melbourne.

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AUSTRAC, a financial intelligence agency is appointed by the government for the identification of legal issues like fraud, money laundering and financially aiding terrorist organisation. The Commonwealth Bank of Australia (CBA) was unable to provide over 53306 transaction reports. In the court hearings, AUSTRAC charged CBA with a penalty of $700 million.The Royal Banking Commission of 2018 found Suncorp, an insurance organisation guilty for not monitoring small business contracts. Court hearings are supposed to take place in the next few months.

Reference no: EM132037613

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Reviews

inf2037613

7/26/2018 1:35:40 AM

Project team communication is very good and delivery was in time, Experts Mind is very professional and have very good work ethics. It was awesome solution for my assignment I got 89% mark, the key points were highlighted and the information provided was very clear.

len2037613

7/2/2018 6:17:41 AM

RESEARCH AND ANALYSIS: Ability to critically analyse the issues and law arising in the question/problem. Evidence of understanding of legal issues, developments and influences on the law supported by scholarly authority and research. 50% Has failed to critically analyse question/problem; lacks evidence of understanding of legal issues/developments/ influences on law. Little or no use of scholarly authority to support argument/legal opinion Has attempted to critically analyse the question/evidence; some evidence of basic understanding of legal issues/developments/ influences on law/application of law to facts. Some use of legal authority to support argument. Has provided a reasonable critical analysis of the question/problem, which demonstrates reasonable understanding of legal issues/developments/influences on the law. Scholarly authority used to support argument and legal opinion. Has provided an in-depth critical analysis of the question/problem, which demonstrates in-depth understanding of legal issues/developments/ influences on the law. Authority appropriately used where necessary to support argument.

len2037613

7/2/2018 6:17:26 AM

Organisation and structure 10% Disorganised/ incoherent Shows some attempt to organise in a logical manner, including linking paragraphs/law to facts Shows organisation and coherence Carefully and logically organised Carefully and logically organised; shows sophisticated attention to purpose Written expression, referencing & bibliography quality/form 10% Meaning unclear and/or grammar, spelling and/or referencing contain frequent errors Meaning apparent but language not always fluent; grammar, spelling and/or referencing may contain errors High standard of conventional English; grammar, spelling and referencing mainly accurate Very high standard of conventional English; grammar, spelling and referencing accurate Sophisticated use of English employing an academic style; grammar, spelling and referencing accurate

len2037613

7/2/2018 6:17:16 AM

CRITERIA/ WEIGHTING FAIL less than 50% PASS 50-64% CREDIT 65-75% DISTINCTION 75-84% HIGH DISTINCTION 85% (+) LAW/ISSUES: Ability to write a clear statement of the law pertaining to the question as the basis for the identification of key issues in question. Show legal understanding of question/problem and issues in it. 30 % Has failed to adequately state the law/development. Failed to identify some/most of the legal issues. Failed to address question/problem. Has stated the law/development in a basic format; identified some of the legal issues; attempted to accurately address the question. Has adequately stated the law/development; identified some/most of the legal issues; accurately addressed the question. Has appropriately and adequately stated the law/development and identified most/all of the legal issues and accurately addressed the question. Has clearly, accurately and appropriately stated the law/development and identified all legal issues and accurately and appropriately addressed the question.

len2037613

7/2/2018 6:17:07 AM

While there is always a place for creativity in answering the questions set, somewhere towards the early part of the answer, there should be an outline/summary/statement of your argument/answer to the question in a nutshell. (Where a question includes a quotation to be analysed, ensure that you address the nub of the quotation in all aspects of the assignment). The assignment should also typically include: brief statement of the law/development or change proposal/development; analysis (eg what was/is the change meant to achieve and why; has it achieved/is it likely to achieve that goal; is it too early to tell; what does the case law and scholarly analysis tell us?) The conclusion ought to consist of a summary showing how your analysis supports your opinions/deductions. It is significant to note that good research supports good analysis. Headings may also be useful. For the problem section of the question, the IRAC (issue, rule, apply, conclude) technique may be useful.

len2037613

7/2/2018 6:17:00 AM

Marking Schedule:a marking sheet is attached. Marks will be primarily awarded for content, analysis and reasoning (based on sound research) but expression, grammar and spelling, presentation and form will also be taken into account (especially where such detracts from the strength of the argument/analysis). Regard shall be had to the following criteria: 1. Demonstrated familiarity with the relevant law and policies (based on sound research); 2. Evaluation of arguments/critical analysis of the relevant law and policies (based on sound research); 3. Development of argument (based on sound research); 4. Structure and organisation; 5. Originality; 6. Quality of expression, spelling, grammar, and punctuation; and 7. Referencing and bibliography.

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