Unit Outline

The study of ethics, from the Greek meaning ‘character’, may be defined as the philosophical enquiry into theories of human conduct: establishing what is morally right as opposed to what is morally wrong. Ethics may be simply described as moral philosophy, or perhaps the principles of goodness by which people live. For the purpose of this unit, we may use the term ethics interchangeably with right conduct or moral goodness. Essentially ethics is the reasoning behind our assessment of the morality of actions or decisions. We will study professional ethics and codes of conduct as mechanisms whereby professions are able to represent to the public that certain standards of behaviour, competence and care are being met. Codes of ethics are universal statements of principle, which provide adherents with general guidance about positive or good behaviour. A code of conduct typically provides some form of rules, which are specific and relate to certain behaviours in that profession or business. These rules usually provide descriptions of conduct, which is unacceptable to the profession or business. Some professions and organisations combine codes of ethics and codes of conduct while others, such as the Financial Adviser Association of Australia, keep the two separate.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Articulate the importance of the Financial Planners and Advisers Code of Ethics 2019 (formally known as the FASEA Code of Ethics) and the values that underpin it.
2.	Contrast different ethics frameworks as applied to financial planning incorporating sustainable principles.
3.	Apply ethics frameworks to resolve dilemmas that are encountered in the role of a financial adviser.
4.	Explain the importance of the best interest duty of a financial adviser and the due diligence in maintaining client records.

Alterations as a result of student feedback

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Case Study Analysis: Part A due: Week 5 & Part B due: Week 12	Week 5	45 %	LO2, LO3, LO4
Assessment Task 2:	Research task	Week 9	25 %	LO1, LO3, LO4
Assessment Task 3:	Take home exam	Exam Period	30 %	LO1, LO2, LO4

Assessment details

Assessment Task 1: Case Study Analysis: Part A due: Week 5 & Part B due: Week 12

Task Description:

Two (2) written professional reflections based on case studies. The two (2) supplied case studies will require a 1,250-word response on each occasion based on your learnings in regard to ethical framework(s). It will use the ERA cycle of reflection containing three stages of experience, reflection and action.
The purpose of these case studies is to assess your understanding of the concepts and issues included in the topics from previous weeks, and your ability to apply your learning. Two (2) reflections will be due during the semester to check the progress of your learning and understanding of key concepts. Each case study will be provided separately via MyLO.

Task Length:

1,250 words (+/- 10% allowance) excluding references for each of the two case studies worth equal marks

Due Date:

Week 5

Weight:

45 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Identify different ethical frameworks and concepts including sustainable principles raised in the course	LO2
2	Apply ethical frameworks to actual instances of decision making in your professional and personal life to date.	LO3
3	Reflect that you are acting in the best interests of your clients when providing advice.	LO4

Assessment Task 2: Research task

Task Description:

Individuals written summary of at least 6 academic peer-reviewed journal articles on the topic of ethics, plus analyses for each article regarding how it relates and applies to the financial planning context.

Task Length:

2,000 words (+/- 10% allowance).

Due Date:

Week 9

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Evaluate the importance of the Code of Ethics in the context of ethical and sustainable decision making.	LO1
2	Summarise each journal article including an analysis of the methodology used and results found.	LO3
3	Apply the results to the context of the financial planning environment.	LO4

Assessment Task 3: Take home exam

Task Description:

This take-home examination will be open-book. This assessment will require you to articulate the theory you have learned in this unit and apply it to complex scenarios that you are likely to face in the financial planning sector.

Task Length:

To be advised.

Due Date:

Exam Period

Weight:

30 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Articulate the importance of a code of ethics and why financial advisers need to work and abide by an approved code in the context of professional standards.	LO1
2	Apply ethical frameworks and sustainable principles to solve dilemmas that are encountered in their role.	LO2
3	Identify the importance of the best interest duty of a financial planner	LO4

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Cull, M., Miller, M., Bruhn, A., Skultety, C. (2021). Ethics and Professional Practice in Financial Planning 1st Edition, Lexis Nexis, Australia. ISBN: 9780409353204