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Showing 21 - 30 of 65 results for "DDO"

FSC updates TMD template for fund managers

ANDREW MCKEAN | THURSDAY, 8 JUN 2023

... regulatory action against Spaceship and Mitrade Global for inadequate compliance with the Design and Distributions Obligation (DDO) regime and deficiencies in their TMDs. The updated FSC template is designed to address key compliance issues related to ...

ASIC issues first-of-its-kind stop order

CASSANDRA BALDINI | MONDAY, 5 JUN 2023

Mitrade Global has been hit with the first stop order to be issued under the design and distribution obligations' (DDO) failure to take reasonable steps provision, with the order relating to its distribution of contracts for difference (CFD). The stop ...

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 ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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