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Showing 1 - 10 of 39 results for "Design and distribution obligations"

APRA, ASIC provide annual update

CHLOE WALKER  |  THURSDAY, 16 DEC 2021
... of their collaborative approach. The implementation of the Member Outcomes obligations and Design and Distribution Obligations, administered by APRA and ASIC respectively, saw the agencies work together to ensure trustees understood the interaction between ...

ASIC launches remediation review

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
... how the remediation interacts with breach reporting, internal dispute resolutions, and the Design and Distribution Obligations. The proposed measures will expand to financial services and credit licensees, and retirement service providers. "The draft ...

AIOFP petitions to delay DDO, annual renewal

KARREN VERGARA  |  FRIDAY, 1 OCT 2021
... advice reforms until 2022 by launching an online petition. The AIOFP is seeking to delay the Design and Distribution Obligations and consent form rules until 1 July 2022 under the petition entitled Reducing the cost of financial advice for consumers. ...

ASIC prepares advisers for DDO

KARREN VERGARA  |  FRIDAY, 17 SEP 2021
ASIC is urging financial advisers to be well prepared for the new Design and Distribution Obligations regime, warning that there should be no surprises when it kicks into gear on October 5. The corporate regulator said it will take a "reasonable approach" ...

DDO nil-reporting rule scrapped

KARREN VERGARA  |  THURSDAY, 16 SEP 2021
In a win for financial advisers, the Design and Distribution Obligations (DDO) regime will scrap the nil-reporting rule. In the Updated amendments to the design and distribution obligations document released by Treasury, advisers will no longer be required ...

ASIC to watch member shunting to untested super products

KANIKA SOOD  |  THURSDAY, 2 SEP 2021
... regulatory reforms I think are really helpful in this respect," she said. "So, I mentioned design and distribution obligations but we've also got new anti-hawking laws coming into force. And as well there was some recent law about...where the boundaries ...

Iress integrates DDO with Xplan

ANNABELLE DICKSON  |  MONDAY, 30 AUG 2021
... for licensees that the DDO legislation may not be complied with." ASIC's RG 274 Product design and distribution obligations aims to help consumers obtain appropriate financial products by requiring issuers and distributors to have a "consumer-centric ...

ASIC outlines corporate plan

ANNABELLE DICKSON  |  THURSDAY, 26 AUG 2021
... Accountability Regime, reforms in superannuation and insurance, breach reporting, and the design and distribution obligations. In terms of its focus on unmet advice needs, ASIC will continue to engage with industry on the barriers to providing good quality ...

Benefits of advice reforms yet to materialise

KARREN VERGARA  |  TUESDAY, 24 AUG 2021
... and consent to pass on costs are three reforms under the Financial Sector Reform Act. The Design and Distribution Obligations (DDO) will take effect in October while all existing registered financial advisers have until 1 January 2022 to pass the FASEA ...

ASIC outlines approach to reforms amid uncertainty

JAMIE WILLIAMSON  |  FRIDAY, 13 AUG 2021
... new breach reporting obligations. From October 5, the industry must also comply with the new design and distribution obligations, new restrictions on hawking, the deferred sales model for add-on insurance, and updated internal dispute resolution requirements. ...
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