DDO

Funds management

ASIC has made an interim stop order preventing Australian Unity Funds Management from issuing or distributing interests in an income fund to retail clients after concerns...

Funds management

ASIC fires warning shot at OTC derivatives distributors

ASIC has taken aim at distributors of over-the-counter derivatives after a review found improvements are needed in how they meet design and distribution obligations, havi...

Policy & Regulation

US and UK-style restrictions unnecessary for MISs

Proposals to place US or UK-style restrictions on products in the Australian managed investment schemes would be “radical” when ASIC already has significant product inter...

Funds management

Diversified fund receives interim stop orders from ASIC

The order for Vasco’s Pivotal Diversified Fund stemmed from concerns regarding the deficiencies in the target market determination of the fund. ...

Funds management

ASIC makes first civil DDO action against financial product distributor

ASIC has commenced its first civil penalty action against a distributor of financial products in the Federal Court for alleged breaches of the design and distribution obl...

Funds management

Four interim stop orders issued by ASIC

ASIC has placed interim stop orders on four funds from two companies, taking the number of orders to more than 20 to date under the design and distribution obligations....

Funds management

Two Perpetual funds receive interim stop orders from ASIC

ASIC has issued interim stop orders for Perpetual Investment Management to prevent the firm from distributing two funds to retail investors. ...

Financial planning

What makes a good TMD?

Having already enacted 11 interim stop orders regarding target market determinations, the industry should not expect ASIC to slow down and using templates could be one ca...

Funds management

Interim stop orders made against three crypto funds

ASIC has made interim stop orders against three crypto funds from Holon Investments Australia....

Policy & Regulation

ASIC invokes interim stop order after TMD concerns

The corporate regulator has made an interim stop order on a fund investing in shopping centres because of a non-compliant target market determination....

Funds management

ASIC invokes interim stop orders on two funds

ASIC has made interim stop orders on two property funds after failings with their target market determination statements....

Financial planning

DDO useless for those receiving personal advice: IMAP

Removing Design and Distribution Obligations for providers of personal advice is a key recommendation in the Institute of Managed Professionals’ submission to the Quality...

Financial planning

ASIC to test DDO intervention powers

ASIC has acknowledged criticism that it failed to do enough to stop the failure of Sterling and said it will be testing its intervention powers in the future under the De...

Funds management

DDO prompts Schroders to cut PE fund minimum

Schroders will cut the minimum investment limit in its Specialist Private Equity fund to better match what an appropriate portfolio allocation will be, due to design and ...

Policy & Regulation

Would ASIC’s DDO, product intervention powers have stopped Sterling collapse?

The corporate regulator’s product intervention powers would not have provided a faster solution but its design and distribution obligations could have led to a stop order...