Instruction : Your task: a. Read from Vol 1 of the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry from pages 133 to 164 (Referred to as “The Report’ below). This will describe Justice Hayne’s report on the ethics of Charging Fees for No Service by Financial Advisers many financial services groups such as in a bank, ADI, or other related financial services group etc. b. Without copying or other forms of plagiarism, explain the three main points made in Justice Hayne’s Report of Charging Fees for No Service and why they are unethical and lacking in social responsibility. (3 marks) c. Using sources other than Vol 1 of the Final Report of the Royal Commission, state at least two critiques of Justice Hayne’s conclusions on page 163 of The Report and indicate why you have chosen these critiques. Please cite your sources carefully in footnotes. (5 marks) d. Summarise your position in a final paragraph balancing the strengths and weaknesses of The Report’s recommendations against the views of critics that believe Hayne’s recommendations are not strong enough. (2 marks) The following URLs are some of the more common references to the Hayne Report: https://ethics.org.aulinitiatives/the-banking-and-finance-oath/ https://www.investmentmagazine.com.au/2018/09/hayne-report-to-push-new-ethical- standard/ https://www.corrs.com.au/thinking/insights/beyond-the-banking-royal-commission-9-key- implications-of-the-hayne-report-for-corporate-australia/
htt com an directors.com.au/resources!ro al-commission
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