Comply with financial services legislation and industry codes of practice

Formats and tools

Unit Description
Reconstruct the unit from the xml and display it as an HTML page.
Assessment Tool
an assessor resource that builds a framework for writing an assessment tool
Assessment Template
generate a spreadsheet for marking this unit in a classroom environment. Put student names in the top row and check them off as they demonstrate competenece for each of the unit's elements and performance criteria.
Assessment Matrix
a slightly different format than the assessment template. A spreadsheet with unit names, elements and performance criteria in separate columns. Put assessment names in column headings to track which performance criteria each one covers. Good for ensuring that you've covered every one of the performance criteria with your assessment instrument (all assessement tools together).
Wiki Markup
mark up the unit in a wiki markup codes, ready to copy and paste into a wiki page. The output will work in most wikis but is designed to work particularly well as a Wikiversity learning project.
Evidence Guide
create an evidence guide for workplace assessment and RPL applicants
Competency Mapping Template
Unit of Competency Mapping – Information for Teachers/Assessors – Information for Learners. A template for developing assessments for a unit, which will help you to create valid, fair and reliable assessments for the unit, ready to give to trainers and students
Observation Checklist
create an observation checklist for workplace assessment and RPL applicants. This is similar to the evidence guide above, but a little shorter and friendlier on your printer. You will also need to create a seperate Assessor Marking Guide for guidelines on gathering evidence and a list of key points for each activity observed using the unit's range statement, required skills and evidence required (see the unit's html page for details)

Self Assessment Survey
A form for students to assess thier current skill levels against each of the unit's performance criteria. Cut and paste into a web document or print and distribute in hard copy.
Moodle Outcomes
Create a csv file of the unit's performance criteria to import into a moodle course as outcomes, ready to associate with each of your assignments. Here's a quick 'how to' for importing these into moodle 2.x
Registered Training Organisations
Trying to find someone to train or assess you? This link lists all the RTOs that are currently registered to deliver FNSFMK505A, 'Comply with financial services legislation and industry codes of practice'.
Google Links
links to google searches, with filtering in place to maximise the usefulness of the returned results
Books
Reference books for 'Comply with financial services legislation and industry codes of practice' on fishpond.com.au. This online store has a huge range of books, pretty reasonable prices, free delivery in Australia *and* they give a small commission to ntisthis.com for every purchase, so go nuts :)


Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

1. Identify and apply organisational requirements of legal principles and regulatory obligations

1.1. Source documents for legislation, regulations and policies relevant to the provision of financial products and services are sourced and accessed

1.2. Key legal principles and organisational implications relating to the provision of financial products and services are interpreted and analysed

1.3. The organisational requirements of these documents and their impact on work practices are identified in terms of procedural requirements

1.4. Procedural requirements relating to operational aspects of laws and regulations and codes of practice are executed in line with organisational policy

1.5. Role authorities and restrictions as identified in position profiles are complied with

1.6. Internal monitoring/audit program is implemented according to organisational and role requirements

1.7. Mechanism is established to ensure currency of regulatory literature is maintained

2. Identify changes and implications of laws, regulations, rules and circulars

2.1. Changed legislation, regulations and policies are identified and accessed in a timely manner and communicated in accordance with organisational policy

2.2. Operational procedures are reviewed to accurately reflect changes to regulation and legislation

2.3. Implications for products and services are identified and changes implemented in accordance with client, legislative and organisational requirements

3. Comply with any relevant industry or professional codes

3.1. Relevant industry codes of practice are sourced, accessed and applied to own work in accordance with organisational requirements

3.2. Key principles and responsibilities are interpreted in accordance with industry codes of practice with own interpretation and application of industry codes of practice confirmed and clarified as required with relevant persons

3.3. Impact of codes of practice on work practices is understood and implemented

4. Maintain statutory records

4.1. Relevant records are maintained and copies of any relevant agreements kept on file

4.2. Evidence of current authorisation, training and relevant licences are maintained in accordance with organisational, legal and regulatory requirements


Qualifications and Skillsets

FNSFMK505A appears in the following qualifications:

  • FNS51710 - Diploma of Applied Anti-Money Laundering and Counter Terrorism Financing Management
  • FNS60210 - Advanced Diploma of Accounting
  • FNS60710 - Advanced Diploma of Financial Licensing Management
  • FNS60810 - Advanced Diploma of Financial Risk Management
  • FNS50810 - Diploma of Financial Risk Management
  • FNS51610 - Diploma of Securitisation
  • FNS50710 - Diploma of Superannuation
  • FNS51010 - Diploma of Financial Markets
  • FNS50110 - Diploma of Personal Injury Management
  • FNS50210 - Diploma of Accounting
  • FNS40811 - Certificate IV in Finance and Mortgage Broking
  • FNS50711 - Diploma of Superannuation
  • FNS60711 - Advanced Diploma of Financial Licensing Management
  • FNS50311 - Diploma of Finance and Mortgage Broking Management
  • FNS50811 - Diploma of Integrated Risk Management
  • FNS60811 - Advanced Diploma of Integrated Risk Management
  • FNS41811 - Certificate IV in Financial Services
  • FNS51611 - Diploma of Securitisation
  • FNS51811 - Diploma of Financial Services