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Showing 11 - 20 of 53 results for "DDO"

ASIC issues stop orders to Saxo

CASSANDRA BALDINI  |  FRIDAY, 19 MAY 2023
... closing their CFD positions, it added. "ASIC reminds financial product issuers that under design and distribution obligations (DDO), they must clearly define target markets for their products appropriately, having regard to the risks and features of ...

Issuers must lift DDO game: ASIC

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... warning to investment product issuers after a review found woeful compliance in meeting the design and distribution obligations (DDO). Since last July, ASIC has placed interim stop orders on 26 investment products from 18 issuers which totals $6.6 billion ...

Taskforce exposes rising dangers for retail investors

ANDREW MCKEAN  |  FRIDAY, 31 MAR 2023
... concerning retail investor harm, focusing on crypto assets, sustainable finance, scams, and Australia's design and distribution (DDO) laws. The report revealed a steady increase in retail investor participation in capital markets since 2020, driven by ...

New relief for reissued life policies

KARREN VERGARA  |  MONDAY, 20 MAR 2023
... conditional relief pertains to Design and Distribution Obligations for financial products issued before 5 October 2021 (when the DDO came into effect), except where the policy is reissued to correct an administrative error or reinstate a lapsed policy ...

ASIC issues more interim stop orders

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
... about any final stop orders. To date, ASIC has issued 24 interim stop orders under the design and distribution obligations (DDO), 19 of which have been lifted following actions taken by the entities.

Treasury releases Quality of Advice Review final report

CASSANDRA BALDINI, JAMIE WILLIAMSON  |  WEDNESDAY, 8 FEB 2023
... don't have to provide an SoA. The report is also calling for an amendment to the design and distribution obligations (DDO) to limit the exception to the requirement to take reasonable steps to ensure the distribution of a financial product is consistent ...

ASIC takes civil action against Firstmac

CASSANDRA BALDINI  |  FRIDAY, 16 DEC 2022
... first ever court case against a financial product distributor for alleged breaches of design and distribution obligations (DDO). The regulator commenced the civil penalty action in the Federal Court against Firstmac Limited following its first DDO court ...

Target market determinations have improved: ASIC

ANDREW MCKEAN  |  WEDNESDAY, 14 DEC 2022
... review is part of a series of initiatives ASIC is undertaking to address compliance with design and distribution obligations (DDO). "ASIC is working on targeted, risk-based surveillance and enforcement action, including issuing stop orders, and taking ...

ASIC launches civil action against American Express

CASSANDRA BALDINI  |  TUESDAY, 6 DEC 2022
ASIC has commenced the first ever court case in relation to alleged breaches of design and distribution obligations (DDO). The case concerns two credit cards issued by American Express (Amex) that were co-branded with retailer David Jones (the credit ...

ASIC hands out more interim stop orders

CHLOE WALKER  |  MONDAY, 5 DEC 2022
... Savings Limited (APS Savings). To date, ASIC has issued 21 interim stop orders under the design and distribution obligations (DDO) including the orders for these funds. The interim stop orders placed on AFL will prevent the firm from offering or distributing ...