Regulatory and Compliance Issues Assignment Example | Topics and Well Written Essays - 750 words

Regulatory and Compliance Issues - Assignment ExampleThis magnate include redress policies (Corporations Act 2001, Section 763C). Non-cash payments refers generally to alternatives to cash payments such(prenominal) as cheques, credit cards, debit cards, travellers cheques and so on (Corporations Act 2001, Section 763D). B. Plain English Definition A plain English definition of fiscal advice is guidance and recommendations from an individual who is qualified and knowledgeable about fiscal products, estate planning and asset protection. Financial advice is not only based on knowledge, alone also based on due diligence. In this regard financial advice is given after taken into account investment, savings, debt creation, debt management and so on that is harmonious with the clients needs and resources. C. Examples of Financial Products in Australia Examples of financial products available in Australia include, managed investment portfolios, derivatives, securities, and foreign exchan ge agreements. Managed investment portfolios refer to a accumulation of investments made by and on behalf of the owner of financial assets. The idea is to invest those assets in particular undertakings with the expectation that the owner of the assets will acquire some returns. ... Securities be documents that substitute for actual assets or interests in assets. Examples of securities are bonds, stocks, debentures and certificates such as share certificates. Foreign exchange agreements are contracts in which a party agrees to bribe foreign currency at a specified rate on a specific date. Question 2 The Role of the Financial Planner The image of the financial planner in Australia is to evaluate the clients financial needs and his or her financial circumstances with a view to preparing and implementing a financial plan that realistically helps the client meet his or her financial needs. In this regard, financial planners in Australia provide a variety of services including retirem ent plans, income planning, superannuation, monetary fund investments, the acquisition of shares, managing risks, managing or reducing debts, implementing savings plans, investing in futures and/or securities, filing taxes, insurance plans, business planning, estate planning and so on (Toten, 2006). each(prenominal) of these services are tailored toward financial planning and/or asset protection depending on the clients needs and resources. For example, estate planning would lead the distribution of assets during the life time of the client with the expectation that the estate will not be subject to probate. In such a case, the client might be advised to create a trust deed in which trustees manage the clients estate for the benefit of the client and his or her children. An insurance plan will also involve financial planning as it would involve making interim payments toward an insurance policy that would insure the clients life or medical care and thus ensure that the client lea ves money to loved ones upon death or has access to