Legislative and Regulatory Frameworks | Management

Running head: MANAGEMENT
Management
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1MANAGEMENT
Abstract
The following report will aim at researching on the impacts of different legislative and regulatory
frameworks on the business operations of the Commonwealth bank of Australia. It is one of the
largest banks all over the world. The bank operates in several regions of the world. They have
earned a good reputation in the banking and financial services industry. Several legislative
frameworks regarding economic policies and taxation strategies of the government have been
discussed in the paper. The impact of these frameworks on the business procedures of the
company have been assessed properly. The company efficiently manages all the changes in the
taxation policies of the government. Apart from that, other impacts like fluctuations in Australian
dollars and its influence on buying power of customers have also been reviewed.

2MANAGEMENT
Table of Contents
Introduction......................................................................................................................................3
Legislative regulatory framework for Commonwealth Bank..........................................................3
Impact of treaties or conventions on services and products............................................................6
References......................................................................................................................................10

3MANAGEMENT
Introduction
The aim of the following report is to research on the legal and regulatory frameworks in
which the Commonwealth bank of India operates. The business industry in which the company
operates is the banking and financial services. It is one of the largest banks that operate in several
countries like Asia, United Kingdom, United States and New Zealand (Commbank.com.au
2019). It is also regarded as the largest banking organization in the entire southern hemisphere as
well. The company had been established in the year 1911 and full privatization of the company
took place in the year 1996. The company has employed around 51,800 people in Australia and
all over the world as in 2017 (Commbank.com.au 2019). The global headquarters of the
company is located at Sydney in Australia. The exact location of the head office is Darling
Harbor at Sydney. The bank has more than 1100 branches and 4300 ATMs all over the world.
Legislative regulatory framework for Commonwealth Bank
As a member of the banking and financial services industry, Commonwealth Bank has to
maintain its practices within several legislative and regulatory frameworks. These frameworks
are indeed very much strict because the bank has already been charged with various ethical
challenges. The Royal Commission into Misconduct in the Banking, Superannuation and
Financial Services Industry has indicated the fact that Commonwealth bank had been charged
of fraudulent cases, money laundering and deceptions over the customers (Hayne 2018). So, this
has become evidently very much important that the legislations and all regulatory frameworks
should be maintained by the company properly so they can conduct all their operations in an
ethical manner (Commbank.com.au 2019).