Ethical Behaviour includes obeying the law and specific regulatory rules (CII, 2013), it is necessary that Paraplanners are aware of relevant laws and regulations including: the Financial Conduct Authority’s Principles for Business and Statements of Principle for Approved Persons (CII, 2013) and the Chartered Insurance Institute Code (CII’s code) (CII, 2014) as well as the Data Protection Act 1998 (Data Protection GOV.UK, 2013), Money Laundering Regulations (Office of Fair Trading, 2009) and the Financial Conduct Authority’s six Treating Customers Fairly Outcomes (FCA, 2013). Paraplanners must act with the highest ethical standards and integrity as well as acting in the best interests of each clients (CII, 2014). It is important that paraplanners are aware of the data protection act as clients have a right to expect complete confidentiality about their personal lives such as income and identity (CII, 2013). If paraplanner has a role to play in adviser charging, then paraplanner need to be aware of the anti-money laundering rules, a paraplanner is most likely to be in charge of implementing these rules (CII, 2013). Paraplanners are very much involved in the identification procedures for client, by making sure there are copies of “acceptable” identity kept on file, therefore the paraplanner needs to have received the appropriate training on verification and identification of clients (CII, 2013) Briefly describe the regulatory framework within which paraplanning operates. The National Occupational Standard (NOS) was developed in 2006 by the Financial Skills Partnership (int-comp, no date). The eighth and ninth parts describe the paraplanners responsibilities (CII, 2013), these include: fostering a dynamic working relationship... ... middle of paper ... ...gotten, this means the product provider facilitates the payment and they will collect the right amount and at the right time (CII, 2013). Documentation You have received a variety of key features documents to help you decide which pension product to have. If you have any queries regarding the key features documents, or anything about this suitability report then please do not hesitate to contact us. This document should be kept with your client agreement, and these documents were given to you at your last meeting. Review I would like to thank you both for seeking advice from this company. I have identified your objectives, and hope that the options available to you laid out in this report help you decide the best way to meet your retirement needs. Should you have any queries, please contact the company immediately. Yours Sincerely, JDFS Financial Services
Investment opportunities with pension plan members to offer them additional services (cross-over), as well as to reinvest their pension plan earnings after they retire (roll-over);
Abortion has been a political, social, and personal topic for many years now. The woman’s right to choose has become a law that is still debated, argued and fought over, even though it has been passed. This paper will examine a specific example where abortion is encouraged, identify the Christian world views beliefs and resolution as well as the consequences of such, and compare them with another option.
In my position as a pension benefit specialist with Towers Watson, I have gained invaluable experience working with plan administrators to process participant request, address inquiries, and resolve disputes. Through this experience I have learned a great deal about pension law, pension plan design, processes, and policies. This experience has allowed me to exercise my skills in time management in adhering to client service level agreements to ensure participant’s request are handled in a timely fashion. In addition have had the chance to hone my research and analytical skills in reviewing and relaying retirement plan information to participants.
According to Michael – even after the recent corrupted scandals within business organizations resulting in regulators making things more complicated by addressing the situation by adding more laws and regulations, little attention has been given to how the nature, and not the substance of new rules may or may not affect the ethical decision-making process
...Bank’s Chairman set-forth guidelines to be met for the new focus of the division. Part of the plan involves reaching out to employees and steering new behaviors towards the new visions is clearly a good way towards opening the lines of communication between staff and customers. Also, rewarding employees fairly and equitably will help aid NOC in their redesign efforts. As outlined throughout the paper NCO has their work cut-out for them, but the plan highlights on the major areas that need revamping.
A person’s actions are right, if their motives behind their actions toward a certain situation have a good intention and they performed appropriate response to certain their situations that life has given to them. For example, a person’s intentions are their motives behind their actions, where as an appropriate action is any response towards any situation which is proper to perform in certain situations that require people to help other people rather than themselves as society deems fit. The following situations are from page 412 of The Philosophical Journey: An interactive approach show about some ethical dilemmas, and the appropriate actions and intentions to figure them out which solution can make an action either right or wrong.
There are always many ethical issues on hands for any business organization. The list id so long and complicated that one can never solve it in a way that everyone can be happy. Because of that, most of the ethical issues in the business world are solved in a manners that both affected parties can have win-win situation. In this paper, we will be discussing a case in which we will focus on how conducting a personal business at work while using corporate asses for personal use affects the moral behavior in any organization.
During the final stage broadening the perspective, the APN is starting to settle in in his/her new role, the NP experiences realistic expectations and a feeling that they are competent. During this phase, I will focus on identifying my strengths and work on strengthening them further. I will do this by seeking for biannual and annual evaluations from management/administrator. I plan on making changes in my work environment in order to increase the care delivery system.12
In order to understand the ethics in tax preparation and AICPA Code(s) of Professional Conduct rules, the essay will answer 4 questions based on estate tax case study. The discussion below highlights some of the application of ethics and principles in practice.
There have been various instances of unethical practices in the business sector. Many policies have been put in place to curb the problem of unethical behavior. Despite the continuous efforts businesses still suffer from unethical practices. This paper is to establish the reasons for consistent unethical behaviors despite the many policies that have been put in place to solve the problem. The paper focuses on behavioral ethics. The proponents of behavioral ethics believe that in many instances, some people make unethical judgments unconsciously. This paper examines the instances of involuntary unethical behavior and their possible remedies. The paper concludes by recommending that the policy makers should always consider the effect of behavioral
There are several people in the streets, yet only a few choose to stop and help. People always wonder how others are different from one another besides obvious character traits. What makes people different is by their moral and ethics. It is never acceptable to be immoral or unethical, for there are always consequences for your actions, your choices affect who you are and what others see you as, and being imperfect doesn’t make a very good excuse.
External pressure from our Life Insurance partners wanted us to commit to using their services. Life Insurance had designed and implemented an accounting system a few years ago that provided wonderful functionality. This system is being used by most of the enterprise although there is no corporate mandate requiring administration areas to use it. While the functionality of this system is quite detailed and impressive, it fails to meet all of the needs of the annuity business customers. Because the annuity business requirements were quite extensive, the life insurance group could not commit to the necessary enhancements that would be required to their system to satisfy annuity users. Because of these business requirements, we then conducted an extensive analysis to determine what Annuities IT could do to satisfy the business requirements. The analysis revealed that we could build our own accounting system for only 25% of the cost of using the life insurance system.
Coates and Mc Dermot 2002, ‘An exploratory analysis of new competencies: A resource based view perspective.’ Journal of Operations Management, Vol. 20, pp. 435-450.
...hanged pension provision? A review of the evidence. Accounting & Business Research (Wolters Kluwer UK) [serial online]. June 2, 2009;39(3):255-267. Available from: Business Source Alumni Edition, Ipswich, MA. Accessed November 30, 2013.
Everyone in this world has experienced an ethical dilemma in different situations and this may arise between one or more individuals. Ethical dilemma is a situation where people have to make complex decisions and are influenced based on personal interest, social environment or norms, and religious beliefs (“Strategic Leadership”, n.d.). The leaders and managers in the company should set guidelines to ensure employees are aware and have a better chance to solve and make ethical decisions. Employees are also responsible in understanding their ethical obligations in order to maintain a positive work environment. The purpose of this case study is to identify the dilemma and analyze different decisions to find ways on how a person should act