ASSIGNMENT - ANSWER BOTH PARTS
A. Recently Austrac has taken proceedings against the Commonwealth Bank of Australia for breach of money laundering laws.
Legally analyse that case and the role of Austrac in corporate regulation.
In the course of your answer, also address the relationship between the regulatory bodies in corporations law - in particular what is the role of ASIC and how has its remit increased over recent years?
B. The Banking Royal Commission 2018 is a watershed in commercial regulation in Australia. Critically discuss its terms of reference as well as some of the key regulatory issues it has considered thusfar.
As a small component of your answer, consider whether there has been a similar Royal Commission (or like enquiry) in another Commonwealth jurisdiction.
If so, what did it conclude about regulation? How, if at all, is this relevant to corporate regulation?
Word Limit: Assignment -1500-2000 words. Note that your emphasis should not be on length but rather on clarity and precision of thought and expression. You must indicate the length of the assignment on your paper.Wordcount not recorded- Students will be penalized 2 marks for failing to record the correct word count on the cover sheet or assignment.Wordcount exceeded - Students will be penalized 1 mark for each 100 words (or part thereof after the first 100 words) above the 1,500-2000word limit.
Style Guide: include footnotes or endnotes and a bibliography. These are not included in calculating the paper's word length (unless the footnote is used for extremely long passages of text that may run the risk of circumventing the word limit).Referencing for all Law assignments must be based on the following - Australian Guide to Legal Citation (latest edition) University of Melbourne.