Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 81 results for "Target market determination"

ASIC delivered court win over Firstmac DDO failure

JAMIE WILLIAMSON  |  THURSDAY, 11 JUL 2024
... reasonably likely to have resulted in, the distribution of one of its products being consistent with its target market determination (TMD). It marks the first finding by a court of a contravention of these provisions. Between October 2021 and September ...

Lazard enters local ETF industry with infra offering

JAMIE WILLIAMSON  |  WEDNESDAY, 12 JUN 2024
... believes provides higher revenue predictability, profitability, and lower volatility." According to the Target Market Determination (TMD), it invests only in "listed companies that own physical infrastructure (including concessions or long-term contracts ...

Australian Unity lashed by ASIC over TMD questionnaire

JAMIE WILLIAMSON  |  THURSDAY, 6 JUN 2024
... failed to take "reasonable steps likely to result in distribution conduct being consistent with its target market determination (TMD)." The Australian Unity Select Income Fund is a contributory mortgage fund whereby clients select and invest in a suite ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... failed to take reasonable steps to ensure its retail product distribution was consistent with its target market determination, and did not do all things necessary to ensure that financial services were provided efficiently, honestly and fairly. ASIC ...

ASIC places stop orders on Trademax Australia

JAMIE WILLIAMSON  |  FRIDAY, 24 MAY 2024
ASIC issued two interim stop orders to Trademax Australia after it found the broker was relying on a poorly designed questionnaire which retail investors were able to attempt multiple times to determine they were in the target market. The business is ...

Spaceship appoints new chief risk officer

JAMIE WILLIAMSON  |  MONDAY, 20 MAY 2024
Spaceship has tapped a former ASIC and APRA operative to be its new chief risk officer. Maan Beydoun joined Spaceship this month in the role, following three years in a similar role at employee management software firm Flare HR. He brings over two decades' ...

ASIC challenges court ruling in Finder Wallet crypto case

ANDREW MCKEAN  |  THURSDAY, 11 APR 2024
ASIC has appealed the Federal Court's decision to dismiss its proceedings against Finder Wallet. The corporate watchdog claimed that Finder Wallet provided unlicensed financial services, breached product disclosure requirements, and failed to comply ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
Piper Alderman is examining a second class action in relation to contracts for difference (CFD) products, this time against International Capital Markets Limited (IC Markets). The action is on behalf of retail investors who claim to have collectively ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
... Despite this warning, Bit Trade continues to offer its margin product to Australian customers without a target market determination. As part of the legal proceedings, ASIC is seeking declarations, a pecuniary penalty, and court injunctions to put a stop ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
ASIC continues to crack down on providers of contracts for difference (CFD), options and other high-risk products that flout their target market determinations (TMD), and design and distribution obligations (DDO). The newly published Report 770 Design ...