MBF 405 CORPORATE GOVERNANCE, ETHICS AND COMPLIANCE

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ASSIGNMENT

PROGRAM	MBABF
SEMESTER	IV
SUBJECT CODE & NAME	MBF 405 CORPORATE GOVERNANCE, ETHICS AND COMPLIANCE
CREDIT	4
BK ID	B1411
MAX.MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Define ethics, morals and values and explain its evolution, principles and benefits.

Answer: Ethics, sometimes known as moral philosophy, is a branch of philosophy that involves systematizing, defending and recommending concepts of right and wrong conduct. The superfield within philosophy known as axiology includes both ethics and aesthetics and is unified by each sub-branch's concern with value.Philosophical ethics investigates what is the best way for humans to live, and what kinds of actions are right or wrong in particular circumstances. Ethics may be divided into three major areas of study.

2 a. Explain the framework of ethical decision making.

Answer: Recognize an Ethical Issue

·         Could this decision or situation be damaging to someone or to some group? Does this decision involve a choice between a good and bad alternative, or perhaps between two "goods" or between two "bads"?

·         Is this issue about more than what is legal or what is most efficient? If so, how?

Get the Facts

·         What are the relevant facts of the case?

b. Describe the ethical issues faced by the banking professionals.

Answer: Ethical issues in the financial services industry affect everyone, because even if you don’t work in the field, you’re a consumer of the services. That was the message of Ronald F. Duska and James A. Mitchell in their presentation at a recent meeting of the Business and Organizational Ethics Partnership.

The public seems to have the perception that the financial services sector is more unethical than other areas of business, Mitchell began. For the past five years, he has been Executive Fellow-Leadership at the Center for Ethical Business Cultures,

3 a. Describe unethical practices in selling financial products.

Answer: Ethics can be defined as going beyond what is legal and doing what is right, even when no one is looking! So when we talk about unethical behavior in business, we are talking about actions that don't conform to the acceptable standards of business operations . . . doing what is right in every situation. In some cases it may be an individual within a business who is unethical in the course of his or her job, and other times we are talking about corporate culture, where the whole business is corrupt from the top down, with disastrous results for society. It is important to realize that what is unethical may not always be illegal (though sometimes it is both). There are many

b. Explain the different operational areas of financial ethics.

Answer: Business ethics is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.

Business ethics has normative and descriptive dimensions.

As a corporate practice and a career specialization, the

4 a. Define and describe the types of internal Corporate Governance.

Answer: Corporate governance broadly refers to the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs. Corporate governance includes the processes through which corporations' objectives are set and

b. Describe the importance and challenges of internal Corporate Governance.

Answer: In contemporary business corporations, the main external stakeholder groups are shareholders, debtholders, trade creditors and suppliers, customers, and communities affected by the corporation's activities. Internal stakeholders are the board of directors, executives, and other employees.

5 Consider you are the head for compliance in a bank. Explain the principles to be followed for effective functioning of compliance to your staff members.

Answer: The Compliance Function has to ensure strict observance of all statutory provisions contained in various legislations such as Banking Regulation Act, Reserve Bank of India Act, Foreign Exchange Management Act, Prevention of Money Laundering Act etc. as well as to ensure observance of other regulatory guidelines issued from time to time; standards and codes prescribed by BCSBI, IBA, FEDAI, FIMMDA etc; and also each bank's internal policies and fair

6 Refer to any banking websites and analyse the Corporate Governance system followed by that bank.

Answer:

·         General Shareholders’ Meeting is supreme governing body of Alfa-Bank. General Shareholders’ Meeting pass decisions on principal issues of the Bank’s performance such as amendments to the Bank’s Charter, issue of

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