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Showing 21 - 30 of 53 results for "TMD"

ASIC lifts ClearView interim stop order

KARREN VERGARA  |  FRIDAY, 21 JUL 2023
... ASIC has lifted its interim stop order after ClearView swiftly amended the deficiencies in its Target Market Determination (TMD). The interim stop order applied to Clearview Life's ClearChoice Income Protection Cover and Accidental Income Protection ...

ASIC slaps interim stop order on ClearView

KARREN VERGARA  |  WEDNESDAY, 19 JUL 2023
... interim stop order on two of its life insurance products after ASIC found deficiencies in its Target Market Determination (TMD). The interim stop order applies to Clearview Life's ClearChoice Income Protection Cover and Accidental Income Protection Cover. ...

FSC updates TMD template for fund managers

ANDREW MCKEAN  |  THURSDAY, 8 JUN 2023
The Financial Services Council (FSC) released an updated template Target Market Determination (TMD) to promote regulatory best practice in the funds management industry. This follows ASIC's recent regulatory action against Spaceship and Mitrade Global ...

ASIC issues first-of-its-kind stop order

CASSANDRA BALDINI  |  MONDAY, 5 JUN 2023
... had concerns that Mitrade failed to take reasonable steps likely to result in distribution conduct being consistent with its TMD. It said the reason for this was the broker relied on a retail investor questionnaire with "significant flaws" as a key step ...

Spaceship told to cease super, funds distribution

JAMIE WILLIAMSON  |  FRIDAY, 2 JUN 2023
... features, like concentration, market and currency risks. "Furthermore, ASIC considered that the distribution conditions in the TMD were not appropriate to ensure that Spaceship Super would likely be distributed to consumers in the target market," it ...

ASIC issues stop orders to Saxo

CASSANDRA BALDINI  |  FRIDAY, 19 MAY 2023
Saxo Capital Markets was forced to amend its target market determinations after the regulator raised concerns. ASIC said the stop orders, handed down on Tuesday, prevented Saxo from issuing new contracts for difference (CFDs) to retail clients because ...

Issuers must lift DDO game: ASIC

CASSANDRA BALDINI  |  THURSDAY, 4 MAY 2023
... billion in funds backed by retail investors. These actions resulted in 12 issuers amending 18 target market determinations (TMD) to address the deficiencies and five issuers withdrawing seven products. The regulator undertook its initial, risk-based ...

CVC sells 20% stake in Eildon

KARREN VERGARA  |  MONDAY, 24 APR 2023
... that prevented CVC from offering or distributing CVC Notes 2 because of deficiencies with its Target Market Determination (TMD). ASIC said the move was "to protect retail investors from potentially acquiring an investment product that may not be suitable ...

BT's Advance AM hit with stop orders

JAMIE WILLIAMSON  |  FRIDAY, 17 MAR 2023
BT Financial Group has been forced to suspend distribution of three of its Advance Asset Management funds for having non-compliant, "broadly drafted" target market determinations (TMDs). ASIC issued interim stop orders to BT and Advance Asset Management ...

ASIC issues more interim stop orders

CASSANDRA BALDINI  |  FRIDAY, 10 MAR 2023
Deficiencies in its target market determination (TMD) have seen interim stop orders placed on Interactive Brokers Australia. ASIC initiated the temporary suspension, valid for 21 days, to prohibit Interactive Brokers from offering, issuing, or giving ...