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.
Design and distribution obligations bring accountability for issuers and distributors to design, market and distribute financial and credit products that meet consumer needs. Product intervention powers allows ASIC to temporarily intervene in a range of ways, including to ban financial products and credit products, when there is a risk of significant consumer detriment
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.
- Understand the global and domestic themes that drove the creation of DDO
- Outline the key milestones in the development of DDO and PIP in Australia
- Explain the principles of DDO
- Identify how ASIC intends to exercise PIP
- Compare Australia’s regime with international models
- Evaluate how financial services will be impacted by design and distribution obligations and product intervention powers.
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Each CPD course has specific learning outcomes, reflections and extra resources and activities, and is assessed via a short online multiple choice quiz. You have 8 weeks to complete the course.