Technology Can Assist with Regulatory Compliance
Task 2: Research
1. Legal accuracy and correct identification of issues and the substantive law.
2. Capacity to critically analyze and formulate logical and sustained arguments and use of evidence to support arguments and address counterarguments.
4. Structure and flow.
5. Regulatory Compliance.
Research Choose ONE of the following options below and answer the accompanying question[s].
‘Technology can play a crucial role in establishing a culture of compliance.’ Refer to the quote above.
Regulatory compliance is opined to be one of the greatest challenges for ADI’s in 2021. As the quote above suggests technology can assist with regulatory compliance. Recently in Australian Securities and Investments Commission v Australia and New Zealand Banking Group Limited (No 3)  FCA 1421, where ANZ admitted to regulatory breaches on 327,895 occasions.
Refer to: Banking Industry Challenges & Opportunities In 2021 | Linchpin SEO.
Discuss by referring to scholarly articles as well as case example as well as relevant rues of common law, statute, and codes of practice.
Question: how does technology affect the legal relationship between ADI and customer? In your opinion, does technology enhance an ADI’s regulatory compliance, or does it increase an ADI’s exposure to litigation?
Legal accuracy and correct identification of issues and the substantive law
(15%) Did not meet criterion. Demonstrates a low level
understanding of the legal issues and/or relevant law, or your writing lacks the clarity to determine whether ou undestand well.
Demonstrates competent understanding of the legal issues but some errors or inaccuracies in the issues and/or the substantive law, or does not identify some issues or apply law to scenario effectively.
Demonstrates a very good understanding of the topic, with the issues correctly identified and the relevant law correctly, or nearly correctly, applied. Demonstrates considerable in-depth understanding of the topic, with issues correctly identified and the relevant law correctly applied.
Capacity to critically analyse and formulate logical and sustained arguments and use of evidence to support arguments and address counter-arguments (20%) Did not meet criterion.
Generally descriptive with some argument and/or attempts at analysis. Supporting evidence is weak or not well understood. Development is needed to support arguments better. Work contains an argument, but with limited success in addressing counter-arguments or using supporting evidence, or some weakness in incorporating arguments well. Raises a lot of ‘yes, but what about…?’ in the marker’s mind. Coherent and articulate argument and/or analysis using a range of materials and critical skills to identify and address the inherent weaknesses in your arguments and the counter-arguments. Not necessarily without weaknesses. Sophisticated and effective use of critical skills, logic and supporting materials to marshal your arguments, address counter-arguments and persuade the reader. Strong,
coherent argument and/or analysis.
(30%) Did not meet criterion. A number of sources have been used, but the need for additional academic research, which would have given more and better arguments. Try not to rely on just the
core reading. A number of sources have been used, but it would have beneficial to source additional targeted research. A high level of independent research with a generally well selected range of materials. An exceptional level of independent research, drawing on and engaging with a broad but well selected range of materials, and showing sensitivity to their
Structure and flow
(15%) Did not meet criterion. Lacks narrative flow or a logical structure. A generally logical progression but restructuring would have improved structure and flow, and thus the persuasiveness of arguments. A good structure with a coherent progression of ideas. The essay flows well but there are minor improvements that could be made. A sophisticated overall structure with a coherent narrative or logical progression of ideas.