Roles and Responsibilities of the Financial Conduct Authority and Ethics in Financial Scandals

Covered Unit Learning Outcomes

State what Unit Learning Outcomes are being covered by the assessment Learning

Explain the roles and responsibilities of the Financial Conduct Authority in its application of outcomes based regulation and its promotion of ethical,  fair and compliance driven behaviour between firms, advisers and customers

Analyse how the rules and principles set out in regulation, are applied in practice in order to meet the financial needs of the consumer

Demonstrate an ability to apply the range of skills and competences required when advising clients in order to demonstrate the application of professional standards and behaviour

Course work Assessment – Prepare a 1500-word essay requiring critical assessment of either the Carillion collapse or the Co-Op Bank financial scandal, evaluating in particular:

- Analysis of the role of appropriate Regulators within the scandal such as FCA, Pensions Regulator and Bank of England: should the situation have been prevented from happening?

- Apply the CII Ethical Dilemma Resolution model to assess the ethics of the scenario andreview the social and ethical implications of the specific case reviewed

- Suggest recommendations as to what could be done in the future to ensure that Corporate Managers uphold the highest standards of integrity and ethics in all business matters.

- You should refer to a range of relevant academic sources and up to date news websites for recent developments

- You should base your analysis and review by making reference to the thoughts of others that you will have read in current literature

- You should also support your analysis with any current and up-to-date examples from the  financial services arena

- The word count excludes in text references and the bibliography

- A word count declaration must be included at the end of the essay

- You should lay out your main text using Arial font and font size 12

- You must follow the MMU Harvard referencing style and all sources used must be fullyacknowledged in the essay and the bibliography: for more information see

· - Student demonstrates a substantial range of knowledge and understanding of the UK Financial system and the Ethical and Regulatory implications of the case being examined.

· - CII Ethical dilemma model has been applied in great detail to the scenario, drawing out specific observations around the Ethics of the case reviewed.

· - Student has accessed a broad range of research and in great depth, pulling from a huge varietyof sources including academic literature, regulatory presentations and up to date press sources.

· - Student presents a strong critical analysis of the case, with a wide-ranging discussion of the issues involved, presented in a well-structured and reasoned manner.

· - A comprehensive review of possible future recommendations has been undertaken, including comment on ethical and regulatory changes required.

· - Essay is well presented, with accurate referencing and appropriate bibliography.

· - Student demonstrates a good knowledge and understanding of the UK Financial system and  the Ethical and Regulatory implications of the case being examined.

· - CII Ethical dilemma model has been applied in good detail to the scenario, drawing out generalobservations around the Ethics of the case reviewed.

· - Student has accessed a good range of research and in some depth, pulling from a variety of sources including academic literature, regulatory presentations and press releases.

· - Student presents a good critical analysis of the case, with a varied discussion of the issues  involved, presented in a logical manner.

· - A sound review of the possible future recommendations has been undertaken, including comment on ethical and regulatory changes required.

· - Essay is structured clearly, with good referencing and appropriate bibliography.

· - Student demonstrates some knowledge and understanding of the UK Financial System and the Ethical and Regulatory implications of the case being examined.

· - CII Ethical dilemma model has been applied with some detail to the scenario, drawing out some accurate observations around the Ethics of the case reviewed.

· - Student has shown some evidence of a range and depth of research, using a variety of sources including academic literature and press releases.

· - Student presents some evidence of critical analysis but with a limited discussion of the issues involved

· - Some evidence demonstrated of possible future recommendations, but with limited commentary on the ethical and regulatory changes required.

· - Essay is adequately structured, with appropriate referencing and bibliography