Complying with Financial Service Legislation 2014 Australia (Article Sample)

Comply with Financial Service Legislation 2014 Australia
Name
Course
Tutor
Institution
Date of submission
A.The wrongs that were done by the staff
Kristoff‘s responsibility is to follow up and collect debts. However, there are several activities that he perpetrates that are wrong. The first mistake that he does is to involve third parties of a debtor during the process of collecting the debts. Further, the staff uses deceit to track the debtor. However, the most absurd thing is that he uses the approach of embarrassing people with the intention of flushing the debtors out of their hiding. Also, he tells lies to the family members with an intent of retrieving the debtor. It is inappropriate to treat the debt collectors with unfairness. He uses force, deceit and arrogance in the process of addressing the third parties to the debtor. Instead, he ought to have treated the third parties with utter sobriety. Besides, he ought to have treated the third parties with the utmost fairness, courtesy and respect (Debt 2015). Unfortunately the coercion and providing misleading information regarding the debt is inappropriate.
B.Legislation or compliance obligation being breached
The legislation or compliance obligation being breached is the Debt Collection and Privacy Regulations. The regulations demand that the debt collection process demands that the principles of debt collection fairness be followed (Debt 2015). Arguably, the provisions demand that the debtors and the third parties to the debtors ought to be treated with utmost respect, courtesy and fairness. It disputes and regulates any feasible behavior that could be applied in conta...