Identify areas of law addressed in the media report, and explain how they are relevant to the matters outlined in the media report.
This article reports on a life insurance salesman, Brian Farber has been failed for providing financial advice for four years.
Administrative law Administrative law is the rules deals with the official decision making of administrative units of government. After the decision make by the particular administrative party, Macquaries Insurance subsidiary had shut up the shop and returned back to Australian Financial Services Licence. Brain Farber had banned for giving financial advise for four years after the investigate by the Australian Securities and Investment Commission. The decision making are all due
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Brain Farber has entered a contract of employment with the financial adviser on behalf of the company Macquarie Insurance. Besides that, the client who trust Brain Farber be their financial adviser also enter the legally contract with Brain Farber and corporate.
Demonstrate how the law functions in these various ways, by the reference to specific examples within the media report and the areas of law identified in question 1.
Ensure reasonable predictability in daily life As a financial adviser, Brain Farber should provide a complete financial advise to his clients. So that, his clients can get and achieve their goals for the purpose for investing. But in the case, Brain Farber failed to provide a statement of advice to several clients based on the templates which does not matter to the information on the products being sold.
Encourages and discourages certain conduct Corporations law would discourage unethical behaviour by Brain Fraber who has legal duties and responsibilities as a financial adviser to give the exact suitable financial plan to his client, so the client would not suffer the loss from the wrong financial
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Contract law imposes obligations on Brain Fraber which should make the good and right financial decision making of his clients by not breach of the laws and regulations. In the case, Brain Fraber should give the right decision making of financial plan due to the financial services laws.
Allows for the enforcement of recognised rights and duties Administrative laws has the right to make decision making for parties after breaching the regulation of the laws. In the case, Macquaries Insurance had shut up shop and return back to Financial Services Licence. Besides that, Brain Farber received the ban after an investigation by the Australian Securities and Investments Commission because of breaches of regulation of the laws.
Provides remedies when an injustice has been done Contract law provides the investor a remedy. Investor may not recover the money, but the consumer should be confident their financial adviser had make the best decision on behalf their best interests.
By reference to the legal issues contained in the chosen media report, explain why it was important for the relevant party/parties to know the law in the circumstances? How did, or could, the party/parties have applied the law to their
Identify at least 4 primary sources and 4 secondary sources of law that the courts in those cases relied upon in making their decisions (a total of at least 8 sources for this question, not 8 sources from each case). Explain the court’s reason for relying on each of these sources.
9. Woodgate, R., Black, A., Biggs, J., Owens, D. (2003). Legal Studies for Queensland, Volume 1, ForthEdition, Legal Eagle Publications: Queensland. 10. Woodgate, R., Black, A., Biggs, J., Owens, D. (2003).
Till this present day legislation is spoken and examples are been taught. In this part the main laws are been showed to you so you can look out when working in the health and social care profession.
This concludes my summary of lessons gleaned from the course BSL 301 Legal Research, Writing, and Analysis referencing Honigberg, G. "Gilbert Law Summaries: Legal Research, Writing, and Analysis" 10th ed. BarBri Group, 2006.
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm (A&E Networks Television). Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.
Australia has taken from English Law in adopting the cab rank rule, encoded in The Victorian Bar Incorporated Practice Rules 2009 (Vic). This essay will discuss the application of the rule, the strengths and weaknesses and will conclude to discuss why the rule should remain an integral part of the Bar despite many calls for its abolition.
These laws enforcement it makes the company have more expenditure and affect to the profit in operation of company as well (Ebsco, 2015).
The selected issue for the paper is where an employee has not given their current or potential customers accurate information when opening accounts or requesting new services from Washington Mutual. When a person is in the workplace proper business ethics is used on a daily basis. An employee can make ethical decisions by applying their critical thinking skills to the situation they can ensure that the decision that they make is the right decision. The decision process can be very tiresome process but with the proper procedures one can become a better decisions maker.
Over the years, different jurisdictions had built their specific system of rules of conduct to govern behaviour. These legal systems, influenced by historical and cultural roots, can be distinguished in two families, the Civil law and the Common law legal systems. The distinctions lies in the process in which each decision is make by the judge and on the legal sources that shapes the law. Indeed, by contrast to the Common law system, which is largely based on Precedents, meaning the decisions that have already been made by judges in similar cases, the Civil law system is based on legislator’s decisions and legal codes with which judges have to justify their judgment . Consequently, instead of referencing to concepts and rules
Jordan Belfort is the notorious 1990’s stockbroker who saw himself earning fifty million dollars a year operating a penny stock boiler room from his Stratton Oakmont, Inc. brokerage firm. Corrupted by drugs, money, and sex, he went from being an innocent twenty – two year old on the fringe of a new life to manipulating the system in his infamous “pump and dump” scheme. As a stock swindler, he would motivate his young brokers through insane presentations to rile them up as they defrauded investors with duplicitous stock sales. Toward the end of this debauchery tale he was convicted for securities fraud and money laundering for which he was sentenced to twenty – two months in prison as well as recompensing two – hundred million in restitution to any swindled stock buyers of his brokerage firm. Though his lavish spending and berserk party lifestyle was consumed by excessive greed, he displayed both positive and negative aspects of business communications.
As a consequence of the separate legal entity and limited liability doctrines within the UK’s unitary based system, company law had to develop responses to the ‘agency costs’ that arose. The central response is directors’ duties; these are owed by the directors to the company and operate as a counterbalance to the vast scope of powers given to the board. The benefit of the unitary board system is reflected in the efficiency gains it brings, however the disadvantage is clear, the directors may act to further their own interests to the detriment of the company. It is evident within executive remuneration that directors are placed in a stark conflict of interest position in that they may disproportionately reward themselves. The counterbalance to this concern is S175 Companies Act 2006 (CA 2006) this acts to prevent certain conflicts arising and punishes directors who find themselves in this position. Furthermore, there are specific provisions within the CA 2006 that empower third parties such as shareholders to influence directors’ remuneration.
1.The strict supremacy of statute over judicial decisions and a tradition of literalism in statutory interpretation, 2. Where no legislation exists, the courts are bound by the doctrine of precedent in accordance with a strict hierarchy of judicial authority, 3. In the absence of a relevant precedent, the judges will be guided by legal principle and reasoning by analogy, and 4. There is clear way of distinguishing the ratio of a case…
The courts access these previous judgements through the system of Law reporting. The system of precedents could not work without a precise and comprehensive compilation of the key decisions of superior courts readily available to all who need them. Authoritative reports compiled by legally qualified law reporters are formed prima...
Firstly in this report, I will be giving the different definitions of rule of law by different philosophers; secondly, I will be applying the rule of law to the English Legal system and thirdly I will be explaining separation of powers with a focus on the impartial judiciary. Finally, I will be using cases to support every detailed point given.
The relationship between law and morality has been argued over by legal theorists for centuries. The debate is constantly be readdressed with new cases raising important moral and legal questions. This essay will explain the nature of law and morality and how they are linked.