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Showing 41 - 50 of 81 results for "Target market determination"

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 ...

Spaceship told to cease super, funds distribution

JAMIE WILLIAMSON  |  FRIDAY, 2 JUN 2023
... financial product advice to retail clients recommending the products. ASIC is concerned the existing target market determination for Spaceship Super has too broad of a target market and does not adequately account for the product's risks. ASIC said ...

No regrets: Hayne reflects on Royal Commission

KARREN VERGARA  |  TUESDAY, 30 MAY 2023
Nearly six years since the landmark Royal Commission, former High Court justice Kenneth Hayne stands by his recommendations that upended the banking and financial services sectors. Making a rare appearance at the International Congress of Actuaries ...

AFCA outlines systemic issues in wealth management

ANDREW MCKEAN  |  TUESDAY, 23 MAY 2023
The Australian Financial Complaints Authority (AFCA) has shed light on what it considers systemic shortcomings in the superannuation, investment, and financial advice industries. The AFCA Systemic Issues Insights report identified multiple instances ...

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
The regulator issued a 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 ...

CVC sells 20% stake in Eildon

KARREN VERGARA  |  MONDAY, 24 APR 2023
... order 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 ...

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 ...

Treasury releases Quality of Advice Review final report

CASSANDRA BALDINI, JAMIE WILLIAMSON  |  WEDNESDAY, 8 FEB 2023
... and take reasonable steps to ensure the financial product is only recommended in accordance with the target market determination." Further, the removal of several reporting requirements for relevant providers under DDO have also been flagged. These include ...