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Showing 31 - 40 of 69 results for "DDO"

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 ...

Stop orders slapped on two Perpetual funds

JAMIE WILLIAMSON  |  FRIDAY, 25 NOV 2022
... as well as the risk of incurring large losses because of using leverage. "ASIC reminds financial product issuers that under DDO, they must define target markets for their products appropriately, having regard to the risks and features of their products. ...

Never been more optimistic: Abood

CASSANDRA BALDINI  |  WEDNESDAY, 23 NOV 2022
... She noted other changes impacting advisers including expanded breach reporting and the design and distribution obligations (DDO), as well as advice fee consent requirements which "hit home." "These have been extremely problematic causing chaos around ...

Property trusts hit with stop orders

CHLOE WALKER  |  TUESDAY, 22 NOV 2022
... distribution conditions in the TMDs did not meet the appropriateness requirement under the design and distribution obligations (DDO) because these conditions were not specific enough to make it likely for the trusts to reach consumers in the target market. ...

ASIC issues more stop orders

CHLOE WALKER  |  THURSDAY, 10 NOV 2022
The corporate regulator has placed interim stop orders on offers from Finnia Income (Finnia) in response to its flimsy target market determinations (TMDs). Finnia, an unlisted company, pursued a $20 million raise under a prospectus through the issue ...