Assessment 1

Assessment 1

Question 1

The ACN of the company is 091225357. The former name of the company was FSA FINANCE PTY LTD.

b) ASIC accepted the Commonwealth Bank of Australia announced the galdagarririk court (ACB) (UE), refers to its Internet banking customers to send the message that was misleading. Send invitations to request authorization from the customer to receive credit limit increases.

From 1 July 2012, the new law, card issuers prohibit unsolicited credit limit increases by sending invitations to their customers unless the customer has consented. 12 and 13 December 2011, ABC sent out invitations to their Internet banking customers, provided the platform to change the law on the increase in credit limit. ABC, the client for approval to increase credit limits will be asked to continue to receive invitations. Approximately 96,000 customers and their permission.

ASIC found that the message is misleading for several reasons: CBA customers who do not meet the suggested credit limit to get the message that the consent would be lost if an e-mail has been proposed for this permit, the client must have access to more funds lost, and customers who need to act urgently, as a result, customers can have their own choices without carefully considering the responses to create an impression.

In fact, under the law, corrections, or customers can withdraw consent at any time. In addition, whether or not they consented, invitations will be sent regardless of credit limit increase, customers will be added to a credit limit at any time can request their financial institutions. The new law changes nothing. In addition to concern about the misleading messages, the ASIC ABC has not been authorized to meet the requirements of the legislation, but also concerned about the approach to obtain a valid consensus.

ASIC concerns, ABC immediately removed from the message. ASIC, Peter Kell said: "The new law is designed to actively manage their credit limit consumer choice, but to increase its limit of unsolicited letters from your bank or credit support provider is being requested.”This commitment demonstrates the union of the ASIC act quickly, consumers can make informed decisions to ensure that the new law and the misleading impression that the consumer decision-making that is committed in order to avoid the risk of an emergency or loss of rights.

c) The documented registered on the date 3/4/2012 is Copy of Credit Liscnece (cl02).

Question 2

The culture of risk management, structure and process is designed to take advantage of opportunities, potential adverse effects of management.

Risk management must be designed to:

• Identify, assess, monitor and manage risks

• Identification of significant changes in the risk profile of the business.

Risk management and value creation and protection of the environment to identify opportunities to capitalize on the value can be improved.

Business risks in your business (commercial risk) may be influenced by the faces of the management of the joint venture. Council must review and approve the policy, risk management and risk management, corporate management must take into account their legal obligations policies. ...