The Australian Securities and Investments Commission (Asic) has proposed to extend the interim measures of design and distribution obligations (DDO) to seven years from two years.

The financial regulator is seeking industry feedback on a proposal to extend the operation of the Asic Corporations (DDO Interim Measures) 2021/784 instrument for a further five years. That will extend the expiry until 5 October 2028. The DDO interim stop orders have become a ‘go-to regulatory tool’ for Asic to quickly disrupt and stem poor consumer outcomes - Karen Chester, Asic The instrument was initially designed for two years and implements measures announced by the departme

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