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Native English Top Writer needed Please.
Write a research paper, also use relevant information from the course manual as a guide.
This institution does not give good grades for ‘fluff’ writing. Each sentence must be a solid sentence.
The total word count for this assignment should be 3,000 words. This includes all in-text references but excludes any footnotes, reference page, cover or contents page.
All references must be intext or footnotes. You must ensure that all your work is properly referenced.
Oxford Style references.
The number of words per question should be in proportion to the number of marks allocated. (23 marks each, so 750 words per question. No need to submit the question, just the answers)
Please collate your assignment as a single document in a Microsoft Word format.
Penalties will be applied to those candidates who submit their assignment after the due date.
Please use the British Virgin Islands or the UK as the jurisdictions for each question. The Industry should always be the Financial Services Industry. You can choose any sector within. (In the BVI, the sectors within the Financial Services Industry are, Fiduciary Services Providers, Registered Agents/Trust Companies (offshore incorporation business), Insurance, Banking, Money Services Business and Mutual Fund).
Actual/real life examples must be used.
I am available to be contacted in the event that the writer needs clarity on any aspect. I can also send our relevant legislations.
Research and evaluate the existing approach to corporate governance in a regulated firm based in a jurisdiction and sector of your choice.
Produce a report for the board of directors of that firm which presents the main findings from your research project and:
i. identifies three of the main elements of corporate governance and for each of these explain why and to whom each of these are important within the firm;
ii. includes recommendations for improvement in the current approach, supporting these with appropriate examples and clear evidence of how and why these improvements will benefit the firm.
Effective compliance training programmes are a vital part of the governance, risk and compliance approach within a regulated firm.
Consider the above statement. With reference to this and to a firm regulated in a jurisdiction and sector of your choice, produce a short article for the ICA’s journal in COMPLIANCE that describes and discusses the main elements that should be included in an effective compliance training programme within a regulated firm. Within this, you should illustrate – by using appropriate examples – the benefits of this for a range of stakeholders within the firm and indicate how the training should be conducted to ensure that it meets its intended objectives.
Read the following scenario carefully and refer to it in your answer to Question 3
Worldwide International (WI) is a firm regulated in a jurisdiction and sector of your choice.
Several years ago it commenced activities in relation to X, a type of business that was different from WI’s existing product and/or service range. The risk and conflicts of interest inherent in X require robust risk-management systems and controls. In setting up this new area of business, WI identified this, building additional requirements into its risk management procedures and recording details in its conflict log.
WI operates a ‘three lines of defence’ model of risk management, which is intended to mitigate the risks and any conflicts of interest associated with the type of business undertaken throughout WI overall.
Two years ago, during routine compliance monitoring, WI found evidence to suggest that three of those involved in managing X had not followed internal procedures for recording related activity. It was also identified that the type of incentive structure that was put in place in respect of X created conflicts of interest; there was a financial incentive to take a particular course of action over others.
Subsequently, WI carried out a number of activities intended to address these matters.
• Additional checks were made to ensure that no client had been disadvantaged to date by the actions of these staff members.
• The matter of incentives was referred to an independent panel within WI for further action.
• Internal training was carried out by the compliance training team to ensure that all staff members had a clear understanding of requirements.
Nonetheless, no follow up monitoring was scheduled thereafter and, following an internal re-organisation within WI and the departure of several members of the senior management team, it appears that the review of incentives was not completed.
In 2019, during a thematic review focused on X, the regulator of your chosen sector found that there were significant weaknesses in WI’s risk-management framework and the systems and controls relating to this. The regulator concluded that WI:
• failed to take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk-management systems, and
• failed to manage conflicts of interest fairly, both between itself and its customers and between some customers and others
The regulator is currently pursuing enforcement action, citing systems and controls failings that led to WI’s failure to manage conflicts of interest fairly.
Since the findings of the regulator’s review, WI and its senior management have worked with the regulator in an open and cooperative manner, committing resources to investigating and addressing the weaknesses in its control environment. Significant efforts are also being made to enhance governance, strengthening the control framework and seeking to embed an appropriate culture under the leadership of a new senior management team.
Drawing on the information in the above scenario and, writing with reference to the objectives and powers of a regulator of your choice, discuss why the risk-management approach taken by WI would raise cause for concern and explain why it was necessary for the regulator to take action. Illustrate your discussion with relevant examples drawn from the scenario and elsewhere.
With reference to a firm regulated in a jurisdiction and sector of your choice, prepare a guidance paper (intended for inclusion in the firm’s GRC manual), which identifies two key areas of business within which, or between which, conflicts of interest might arise. Advise how these conflicts could be managed in practice, with reference to the firm’s systems and controls, policies and procedures.
More information and files will follow.