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ARTICLE · 27 JANUARY 2026

Funds Update - 23 January 2026

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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On 20 January 2026, ASIC published Report 828 following a review in relation to the contracts for difference (CFD) sector. ASIC found widespread compliance weaknesses in a number of areas...

AustraliaFinance and Banking
Fiona Smedley
Fiona Smedley
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In this Funds Update for 23 January 2026:

  1. Report on CFD compliance with design and distribution obligations

Report on CFD compliance with design and distribution obligations

On 20 January 2026, ASIC published Report 828 following a review in relation to the contracts for difference (CFD) sector. ASIC found widespread compliance weaknesses in a number of areas, including design and distribution obligations (DDO), ASIC's CFD product intervention order and derivative trade reporting requirements.

In relation to DDO, ASIC's review examined CFD issuers' questionnaires which assessed clients against the criteria in target market determinations (TMD) and tested whether the client specifically met the TMD criteria to have knowledge or experience in CFD trading. ASIC highlighted common deficiencies in these questionnaires:

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