The Australian Securities and Investments Commission (Asic) is urging investment product issuers to ‘lift their game’ after an initial review found significant room for improvement in how they meet their design and distribution obligations (DDO).

The DDO, now into its second year, marks a significant shift to outcomes-based regulation which requires financial products to be designed and distributed with clear and contemporary consideration of the objectives, financial situation and needs of the consumers and retail investors being targeted. The design and distribution obligations are a ‘game changer’ for consumers and retail investors - Karen Chester, Asic ‘The design and distribution obligations are a ‘game c

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