25556 The Financial System Autumn 2020 Group Assignment Your assignment is to produce an article, with your group, on the topic of short term lending that has been identified as being an important...

GROUP ASSIGNMENT


25556 The Financial System Autumn 2020 Group Assignment Your assignment is to produce an article, with your group, on the topic of short term lending that has been identified as being an important issue in the Australian financial system. Due date: Friday 24 April, 2020 by 6pm. Assignment requirements: 1. Groups of up to four or five students should be formed. You should finalise your group members and inform your lecturer by email: [email protected] of your group members by 7th April. If you have not formed a group by this date you may do your assignment on your own or let your lecturer know by email that you want to be put in a group. Deborah will then put you in groups and advise you as a group via email. Remember if you do not advise Deborah by email by the 7th April of either situation it will be assumed that you are completing the assignment on your own. 2. Word limit ‐ The maximum number of words for the assignment is 2000 words. This includes words used in footnotes/endnotes, on graphs or in tables but not in the reference list. Material cannot be included in appendices. Further, your assignment should be printed single‐sided on A4 paper with 12‐pont font and 1.5 line spacing. 3. Layout – Your article should be modelled on the layout used by the Reserve Bank of Australia in its Bulletin publications. The key features of this are: · Inclusion of an executive summary; · Use of headings throughout – including an introduction and conclusion; · In‐text referencing of sources throughout using footnotes (though in-text referencing using the UTS/Harvard method is also acceptable); · Graphs and tables (if you choose to use these) included in body of the text; and · A bibliography (or list of references). 4. The 2-page Assignment cover sheet must be attached to the front of each assignment. Each group member must sign a statement that the assignment has not been plagiarized. 5. Your reference list (bibliography) must be included in the assignment with references listed in alphabetical order of the first author's surnames. For details on referencing you can use the Faculty of Business (2014) Guide to Writing Assignments which can be downloaded from the following link: http://www.uts.edu.au/sites/default/files/business‐writing‐guide‐2014.pdf. 6. Your assignment must be submitted through UTSOnline via the Assignment facility by 6pm on Friday 24 April, 2020. This submission goes through to Turnitin, a plagiarism detection software package. Please note that each group is required to submit your assignment once only to Turnitin. ‘ASIC Product intervention on short term lending models’   Background: The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia’s corporate regulator. ASIC’s role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors. In this assignment your group will need to: · Review ASIC’s media release https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-250mr-asic-makes-product-intervention-order-banning-short-term-lending-model-to-protect-consumers-from-predatory-lending/. Provide a summary of the intervention order using documents attached to this media release. (Recommend 700 words) · Provide an overview of the current service providers of short term loans. The overview must provide information at least one example of terms and conditions offered for these loans. (Recommend 500 words) · Identify 2 of the major issues that ASIC are trying to place limitations on? Explain what types of consumers are most likely to be affected and why this is an important issue. (Recommend 800 words) Further relevant papers can be found in the references of this speech however please ensure you include other references to help explain examples and a clear understanding of financial stability from other sources. Further research beyond this source is essential. Assignment Cover Sheet (1) – please attach to your assignment 25556 The Financial System Autumn 2019 We acknowledge that we understand what plagiarism means (that is, the submission of an assignment by a student/s who has copied all or some materials from another student’s work or from any other source). Consequently, I certify that we wrote this assignment ourselves and have not copied material written by someone else. Student name Student number Signature Assignment Cover Sheet (2) – please attach to your assignment 25555 The Financial System Autumn 2019 Marking distribution Z <50% p="" 50-64%="" c="" 65="" -74%="" d="" 75-="" 84%="" hd="">85% Review of ASICs media release (4 marks) Overview of current service providers (3 marks) Identify issues that ASIC are trying to place limitations on (4 marks) Identify the types of consumers are most likely to be affected (3 marks) Discuss why this is an important issue (3 marks) Article structure (including executive summary, introduction, conclusion), grammar and referencing (3 marks) Executive summary Introduction Conclusion Spelling and grammar Referencing TOTAL MARK (Out of 20) Evidence of plagiarism found in written reflection by this marker. None Moderate amount Significant amount