HI5015 Legal Aspects Of International

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HI5015 Legal Aspects Of International

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HI5015 Legal Aspects Of International

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Course Code: HI5015
University: Holmes Institute

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Country: Australia

Write about the Legal Aspects of International Trade and Enterprise for Multi National Company.

Commonwealth Bank of Australia as a Multinational company 
The Commonwealth Bank of Australia is the fourth largest Australian multinational company operating at a global level having various branches in most parts of the world. Currently, the bank had adopted the utilization of Information Technologies in the delivery of most of its services making the operations faster, effective and cheaper in comparison before the IT technologies were launched. It is a multinational business bank with branches in across New Zealand Asia, Fiji, USA and the United Kingdom. It was founded by the Commonwealth Bank Act on 1911 which was launched by Andrew Fisher Labor Government. At times, the bank was initiated to have both the savings and general businesses of the bank which was a rare issue at that time (Hannan, 2013, p. 3).    
The research also reveals that the bank was the first in Australia to receive the federal government guarantee. The bank initiated its first branch in the City of Melbourne on the 15th July 1992 and later in 1993, the bank advanced various branches in six states. In 1916, the bank developed and moved its head office to the Sydney, followed by other branches in the New Guinea and later in Queensland. According to the research conducted, the bank is controlled by the Australian Prudential Regulation Authority (APRA) as stated by the authority of the Banking Act launched 1959 (Saunders, 2014, p. 22).
The bank is run through various strategies such as encouraged diversity in leadership that targets in improving the proportion of the roles of the managers and give women 35% of the responsibilities. Also,new simple work approaches are being implemented by the bank to ensure effective service delivery. Respect and inclusivity are also a crucial element encouraged by the bank contributing profoundly towards the growth of the bank (Workplace Gender Equality Agency, 2012, p. 2).
Number of Employees in Common Wealth Bank of Australia
The Company operates worldwide with more than 52,000 employees of which about 6000 of the employees were selected to deal with the information technology system the Bank utilizes to save the cost of production. The system also has aided effectiveness of service delivery making it possible people to transact via the internet without necessarily traveling. The company was founded in the year 1911 by the Australian government and is among the four big Australian Banks hence; it was launched as a state bank. Studies reveal that the Bank currently has more than 800,000 shareholders (Daniel & Alan, 2014, p. 6).
The Bank provides various services for instance retail, investments, business and institutional banking (Desker & Osman, 2006, p. 24). CBA is a large multinational bank headquartered in Sydney, Australia. The bank is located in the headquarters of Darling Harbor, Sydney in Australia. The bank serves the people at the global level. Crucial people for the operation of the Bank Catherine Livingstone who is the Chairman, Ian Narev the CEO and managing director. The bank deals with a variety of products some of which include investment banking, corporate banking advice, online banking, credit cards, and wealth management advises. Studies reveal that the bank is the largest one in the southern hemisphere (Eliza, 2016, p. 1).
Regulatory Framework Affecting Commonwealth Company
The Commonwealth Bank of Australia led by its former head David Murray conducted the government –commissioned financial service inquiry regulatory approach. The plan demanded that if one owns a credit card, have a loan, a bank deposit, superannuation, it touched the finances of the investors. The approach sought to iron out many of the competitive inequities in the bank system that otherwise would affect smaller regional banks negatively and accept the fact that digital revolution was changing the flow of finances which was a new approach adopted by the regulatory framework (Jamie & James, 2014, p. 1).
The system has also created an expensive atmosphere to the clients and consumers and lacks competition hence, to them the system is unessential. The system when implemented is likely to impact the bank more negatively since the bank will be forced to employ approaches that harm the consumer. Some of the suggested strategies entail reducing dividends payments to shareholders and also increasing interest rates of borrowing. The risks that were caused by the financial crisis in Australia impacted the operation of the CBA bank too. In the regulation, the penalties for breaches were boosted, tougher bans were employed for financial advisers and also the utilization of pay systems to fund the watchdog. To curb this influence of the bank to customers, studies reveal that the management was urged to charge the shareholders on the charges of keeping the safety of bank rather than imposing such to clients.
The system from the discussion can be concluded that it was mainly launched to help the operation of the bank in the harsh conditions of the financial crisis of the Australia as a country which had an adverse impact on the customers of the bank since they were charged heavily in terms of the loans accessed and given small dividends (Roger, 2007, p. 144). 
International Branches of the Commonwealth Bank of Australia
In Asia, the Bank has branches in Hong Kong, Japan, Indonesia, Singapore, and Vietnam. The bank of CBA gives a variety of services to both the Australian clients within the regions that have an interest in doing business with Australia. The bank also has branches in New Zealand since the bank has its license and operates in Corporate and institutional clients in New Zealand with a comprehensive range of products and services for instance transaction and banking, capital markets, global markets and research. It has also expanded to Europe building partnerships to give an opportunity for specialists’ investments.
The Bank has another branch in North America located in the city of New York. It offers a range of financial services to Australian and New Zealand corporate, institutional clients and also provides the people of North America with business connections in both Australia and New Zealand.  The bank has various branches located all over the world for stance, in China called the Beijing commonwealth bank branch located in China world Tower Room 4606. Commonwealth Bank Mumbai branch level is also another branch of CBA. Another Branch is based in Tokyo Japan called the Commonwealth Bank Tokyo Branch. Employees working in the branches are drawn from the respective countries hence the source of employment to both Australian and non-Australian (Tim, 2014, p. 485).
Trade Agreements Favoring the Growth and Operation of CBA
India and Australia seem to have initiated an agreement on the best approach to employ to improve the bilateral trade between the two countries. It is due to the backdrop in the level of investments that made the two countries to initiate an agreement on the way forward to improve trade. Australia and India agreed in 2008 April to undertake a feasibility study for a possible feasibility agreement targeting to improve the economic business relation.
The agreement was essential since it targeted in removing barriers that otherwise would have imposed additional costs on both the exporters and also erode competitiveness. The two Nations agreeing helped multinational companies like the Commonwealth Bank to carry out its service delivery works in India without paying hefty charges as compared to before the agreement was launched (Anderson, 2013, p. 78).
There was also another agreement between the government of the Republic of Singapore and the Government of the Commonwealth of the Australia for the avoidance of double taxation and the prevention of fiscal evasion on taxes on income. The agreement was to apply to both persons from either the two states. The agreement was signed on the 17th February 2003.The deal included free coverage of tariff access for goods, advanced access to market services. Provision of conducive environments for the operation of the business in both the states for instance provision of security giving an enabling environment for the functioning of the bank.
The agreement has given the Commonwealth Bank of Australia to get national treatment procurements by the Agency of Singapore. Another crucial benefit gained from the deal was that it led to allowing of applications for preferential certificate of origin for the same classification of goods which now could be done for two years (Anz, 2014, p. 122).
With these agreements, the Bank has been able to carry out its operations without straining since customers are charged cheaply due to small fees imposed on the loans borrowed by the customers. It has also allowed the bank to transfer information including electronic data from its branches to the main office in Australia. Also, the agreement especially, that with Singapore has created a perfect infrastructure where Singapore is utilized to cover other Asian markets and therefore realizing better economies of scale of the Bank (Hanrahan, 2008, p. 63).
To sum up, the Commonwealth Bank of Australia has helped profoundly not only the economy of Australia but also advancing the economies of other states like America through the taxes paid by the government. Relationships between Australia and other countries have being improved courtesy of the Commonwealth Bank of Australia. Technology has advanced to a more standard level; employment opportunities offered to many people both the Australian and other employees from without. Therefore launching such economy developmental businesses is so paramount to both the country and the people at large since employment is provided and also they can access to the necessary goods and services needed in their lives (Jones, 2009, p. 110).
The agreements between the state of Australia and other countries have provided conducive environments for the operation of the business both financial support, security and lowering of tariff charges employed to the bank. For the Bank to continue growing globally, there is need to ensure that alliances are set both locally and internationally for the better access to the market, build a network and trying to win the support of local agencies and government agencies too (Dunleavy, 2008, p. 64).
Anderson, H., 2013. Corporate insolvency and the protection of lost employee entitlements: Issues in enforcement. Australia Journal of Labor Law, 26(1), pp. 75-101.
Anz, M., 2014. Caged Tiger: The Transformation of the of the Asian Financial System. Anz insight Journal research, 33(5), pp. 110-187.
Daniel, S. & Alan, T., 2014. How Commonwealth Bank of Australia Gained Benefits Using Standards -Based , Multi-provider Cloud Model. Mis Quarterly produced Journal, 13(4), pp. 1-14.
Desker, B. & Osman, M., 2006. Rajaratnam on Singapore: from ideas tp reality. 1 ed. Singapore: World Scientific Publishing.
Dunleavy, P., 2008. Explaining the privatization Boom : public choice versus Radical choice review. 2nd ed ed. London: Public Administration department.
Eliza, B., 2016. Commensurate: Government must consider royal commission into disgraceful practices, Labor says., Sydney: ABC News.
Hannan, P., 2013. Big Bank Finance reef destruction,activitists claims. 1st ed. Sydney: Morning Heralds.
Hanrahan, P., 2008. ASIC review Should make it Smarter. Australian Financial Review Journals, 20(6), pp. 60-110.
Jamie, F. & James, E., 2014. Former CBA Boss Norris Blames Scandal on Rogues, Sydney: online.
Jones, E., 2009. The crisis and the Australian financial sector. Journal of Australian political economy, 64(4), pp. 91-116.
Roger, W., 2007. Privatization in Australia: How Much and what impacts. 2nd ed. Canberra: University of Canberra.
Saunders, A., 2014. Australian Bank faces pressure over support for coal projects. 2nd ed. Sydney: Morning Herald.
Tim, M., 2014. Financial Services Enforcement , ASIC,Proof. 2nd ed. Hansard: Sydney.
Workplace Gender Equality Agency, 2012. Women in Leadership Commonwealth Bank case study, Sydney: Workplace Gender Equality Agency.

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