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Regulatory Compliance 6
Q1 Imagine that you work in the compliance department of a financial services company. You have been asked by your supervisor to write a short memo to the firm’s financial advisors on common regulatory violations.
Your memo must cite at least three of the violations listed below. You must define what the term means, give an example of what a violation of that regulation might look like, and provide some brief advice on how the financial advisor can best avoid committing a violation of that regulation. The memo must be a minimum of three double-spaced pages in 12 point Times New Roman font.
? Selling Away
? Churning
? Commingling
? Suitability
? Conflicts of interest
? Unauthorized trades
? Maintaining Fictitious Accounts
? Failure to Cooperate
Q2: For a hypothetical Thesis paper that you will write...submit a research plan. What databases will you use? Any techniques you will use to best utilize these databases?
Solution
Q1.
Memorandum
To: Mr. Financial Advisor
From: Mr. Smith
Date: 8 Oct’ 2016
Subject: Common regulatory violations
Regulatory Compliance
It is defined as the adherence to laws, guidelines, regulations and specifications which are relevant to an organization. The violation of regulations leads to the legal punishment which includes federal fines. The rules and regulations are rapidly increases which makes the compliance most prominent in the various organizations. The ethical issues in the financial services affect an organization. The financial service sector is more ethical than other sector which becomes the image in the eyes of the public. The financial sector comprises of banks, insurance companies, investment banks, mortgage lenders and the financial industry garners many headings due to which ethics lapses.
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The three violations are explained below:
Selling away
The selling away is defined as the incorrect practice of investment professionals in the securities brokerage industry of Unites States in which the securities are sold by the brokerage firm. The list of a product is approved by the company which means the sales are not approved by the company. It is done by the investment professionals which includes financial advisor, stockbroker, representatives who are registered and others. The listsof products which are approved by the company for selling by the brokers are subjected to the process of due diligence of the company(Gentzoglanis et al., 2014). The process of due diligence includes receiving the approvals and reviews from the risk and compliance department of the company. For example, the investment is sold by the broker who is away from the company. The broker marketing securities must get the license for different types of securities. The license is issued by the financial industry regulatory authority to the brokerage firm in the U.S. It is basically a selling of transaction which is not approved by the firm. The securities are involved in the private placement. The transaction can be deliberated or intentional. The selling away can be avoided through avoiding the various mistakes such as changing in last minutes, completes understanding of the working of deals, a disclosure of important details and avoid bad habits at the table of negotiation.
Churning
It is defined as the practice in which trade are executed for investment account which is done by the broker for generating the commission from the particular account. It is the breach of securities law and the actions taken by the holder of account regarding the returning of commission paid by the account holder for any losses due to the choice of stock made by a broker. In this case, court firstly look at the balance in the investment account and then the number of times churning has been done. The critics of giving money to the brokers for encouraging the behavior of brokers indirectly. The investments which are providing stable returns with less fluctuation's in the price leads to generate zero commission for brokers due to which brokers avoid to recommend such investments. There is no commission on the accounts which are free based (Shapiro et al., 2012). The running churning is stated as the amount which is provided by the infrequent client on the trading of free based accounts. For example, in the case of mutual fund account, the transaction takes place at one's yearly or semiyearly. In the case of churning, the transactions are processed ones or more than one in a month for the whole assets. The commission which is paid to the broker can substantially reduce the investment account value within a short period. The churning can be avoided by the financial adviser by giving priority to the financial interest of account holder and prepare a financial planning in from of account holder according to their requirements. Avoid the omission of facts, taking unsuitable investment and over concentration.
Suitability
It is defined as the recommendations given by the financial advisor which are unsuitable for the account holder and further leads to the financial loss. It is considered as an unethical business practice which is subjected to criminal and civil penalty for intention to defray. According to the investment advisors act, 1940 if the broker is failed to meet the suitability of the client then it is considered as the unethical practice. For example, the recommendation is given to the customer without asking about the requirements of a client. There are various examples of suitability violations such as same security recommendations given by the broker to all the clients, doing the transaction on the account of client which is of heavy amount, churning in the account of client, giving services to the client who is not suitable for them and others (Kozora et al., 2016). The suitability violation can be avoided by the financial advisor through providing recommendations on the basis of reasonable by asking the requirements of the client.
Regards,
Mr. Smith
Q2. Research plan
Introduction
In this paper, we will prepare the research plan on the topic role of human resource management in changing the conflicts into learning outcome. The research plan discusses the role of human resource management, literature review, research methodology and the conclusion.
The human resource management is present in every company which enables to generate profits through capital introduced by the shareholders. The human resource management role is changing with the span of time due to which they are more focused on the needs of employees. The role of human resource management includes retaining the employees and motivating them which helps in managing the relationships, and it enhances the revenue of the company.
Literature review
According to the Guest (2011), the conflicts are common in every organization, and it is important to maintain a healthy and interactive environment through cognitive skills in which the ideas and strategies are the exchange. The conflicts are arises due to the diversification of social, culture, religious and political perspective with the stratification of status. Goetsch and Davis (2014) argued that the counterproductive conflicts can lead to the negative effect on the satisfaction of employees. The dissatisfaction of employees affects the productivity of the company.
According to the Purce (2014), the conflicts transformation theory helps to human resource management in resolving the conflicts of the company which leads to the learning experience. The Mckenzie (2012) argues that the transformation of conflicts focuses on the fundamental sources of conflicts. The theory of diversity needs to be understood by the employees who help to ignore the negative consequences of conflicts.
According to Jose (2011), the performance of employees mainly depends on the procedures and plans of an organization. The Lengnick hall (2011) he argues that the correct channel is used by the human resource management and the process of conflicts can lead to a positive outcome which can be improved by the employee's understandings.
Variables
There are two variables which are taken in the research, namely, dependent and independent variables. The independent variable is the role of human resource management, and the dependent variable is changing organizational conflicts into learning outcomes.
Hypothesis
H1: the role of human resource management is significant in changing organizational conflict into learning outcome
H2: the role of human resource management is not significant in changing organizational conflict into learning outcome
Research questions
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What is the role of human resource management?
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What are the factors which impact on the role of human resource management?
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How organizational conflicts can be impacted by human resource management?
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Explain the recommended strategy adopted by the human resource management for changing the organizational conflicts into learning outcomes?
Research methodology
The data is collected through questionnaire survey, and the convenient sampling is chosen. The explanatory research is conducted. The questions are closed ended. The respondents have experienced the change in the organizational conflicts into learning outcomes. Then the hypothesis is conducted on the collected data. The analysis tool uses in the research is SPSS and correlation is done to accept or reject the hypothesis. The sampling has sixty employees who all are experienced the same situation.
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The function of human resource management is to manage the conflicts which are the solution of converting organizational conflicts into learning outcome. The role of human resource management is confronted by the conflicts of interest which help to solve the conflicts in an organization. The strategic planning helps to solve the organizational conflicts which lead to the benefit of the company. The neutral instance helps to solve the organizational conflicts in a most efficient and effective manner. The human resource management supports in resolving the conflicts which lead to the learning outcome. The neutrality is embedded by the ethical codes and the principles of the workplace which helps to settle the conflict of interest among the employer and employees.
References
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Guest, D.E., (2011). Human resource management and performance: still searching for some
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answers. Human Resource Management Journal, 21(1), pp.3-13.
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Lengnick-Hall, C.A., Beck, T.E. and Lengnick-Hall, M.L., (2011). Developing a capacity for
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organizational resilience through strategic human resource management. Human
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Resource Management Review, 21(3), pp.243-255.
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Goetsch, D.L. and Davis, S.B., (2014). Quality management for organizational excellence.
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pearson.
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Purce, J., (2014). The impact of corporate strategy on human resource management. New
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Perspectives on Human Resource Management (Routledge Revivals), 67.
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McKenzie, J. and Aitken, P., (2012). Learning to lead the knowledgeable organization:
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Developing leadership agility. Strategic HR Review, 11(6), pp.329-334.
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Jose Chiappetta Jabbour, C., (2011). How green are HRM practices, organizational culture,
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learning and teamwork? A Brazilian study. Industrial and Commercial Training, 43(2),
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pp.98-105
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Kozora, M. (2016). Security Recommendations and the Liabilities of Broker-Dealers. Available at SSRN.
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Shapiro, S., Kinkela, K., & Harris, P. (2012). Churning and Suitability of Investments: A Financial Industry Regulatory Authority Arbitration Case Study. Review of Business & Finance Case Studies, 3(1), 61-67.
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Gentzoglanis, A., & Levin, A. (2014). Fraud and Privacy Violation Risks in the Financial Aggregation Industry.
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