They’ve been five or so years in the making but participants in many major financial centres, including Australia, are having to adjust to the introduction of design and distribution powers and product intervention powers (DDO & PIP). New rules, among other outcomes, dramatically alter traditional information flows between product issuers, advisers and end consumers, and expose issuers to unprecedented levels of scrutiny and potentially even liability.
So, what entities and products are most affected, and how? After briefly tracing the journey from conception to DDO & PIP implementation, we explore what areas are being targeted first and what the new measures might mean for your organisation.
In this course you will learn to:
- Discuss the emerging global and domestic themes that drove the creation and implementation of design and distribution obligations and product intervention powers
- Outline the key milestones in the development of design and distribution obligations and product intervention powers in Australia
- Explain the overarching principles regarding design and distribution obligations
- Identify how ASIC intends to exercise its product intervention powers in general terms and with respect to sectors it has announced it is planning to use them for
- Evaluate how the conduct of financial services institutions in Australia will be impacted by design and distribution obligations and product intervention powers.
3 CPD points/hours