ARTICLE · 02 JUNE 2023

ASIC ‘Lifts Its Game' On DDO

Herbert Smith Freehills Kramer LLP

Explore more from Herbert Smith Freehills Kramer LLP

The Design and Distribution Obligations (DDO) regime is increasingly becoming a cornerstone in ASIC's supervision and enforcement arsenal. In the latest, on 18 May 2023...

GlobalEmployment and HR

Michael Vrisakis

Charlotte Henry

Shan-Verne Liew

The Design and Distribution Obligations (DDO) regime is increasingly becoming a cornerstone in ASIC's supervision and enforcement arsenal. In the latest, on 18 May 2023, ASIC announced that it had made 8 new interim stop orders preventing the issue of derivatives including contracts for difference (CFDs) to retail clients because of deficiencies in their target market determinations (TMDs). And a few weeks before that, on 3 May 2023, ASIC called on investment product issuers to 'lift their game' on DDO compliance, and released Report 762 Design and distribution obligations: Investment products (REP 762) in relation to its initial review of the compliance of investment products (including interests in managed investments schemes, listed investment company shares, preference shares and debentures) with the DDO.

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