Design and distribution obligations and product intervention power
Key documents
- Proposals Paper - PDF 1MB
- Proposals Paper - DOCX 632KB
As part of the Government’s response to the Financial System Inquiry (FSI), Improving Australia’s Financial System 2015, the Government accepted the FSI’s recommendations to introduce:
- design and distribution obligations for financial products to ensure that products are targeted at the right people (FSI recommendation 21); and
- a temporary product intervention power for the Australian Securities and Investments Commission when there is a risk of significant consumer detriment (FSI recommendation 22).
This paper seeks feedback on the implementation of these measures. In order to assist interested parties in providing feedback, the Paper outlines proposals to illustrate how the measures could operate in practice. This approach recognises that many of the elements of the measures are interrelated and so to provide feedback people need to be able to view the measures holistically.
The proposals outlined in this paper are intended to elicit specific and focused feedback, and should not be viewed as a statement of the Government’s final policy position.
The Government invites all interested parties to make a submission on the proposals outlined in this paper.
Submissions
- Allens - PDF 82KB
- ANZ - PDF 428KB
- Association of Financial Advisers (AFA) - PDF 586KB
- Association of Securities and Derivatives Advisers of Australia (ASDAA) - PDF 212KB
- Australian Bankers’ Association (ABA) - PDF 700KB
- Australian Securities Exchange (ASX) - PDF 323KB
- AustralianSuper - PDF 210KB
- BlackRock - PDF 188KB
- CFD and FX Forum - PDF 4MB
- Customer Owned Banking Association (COBA) - PDF 229KB
- Financial Planning Association of Australia (FPA) - PDF 508KB
- Financial Services Council (FSC) - PDF 1MB
- Good Shephard Microfinance - PDF 441KB
- IG - PDF 1MB
- Industry Super Australia (ISA) and Australian Institute of Superannuation Trustees (AIST) - PDF 316KB
- Informed Investor - PDF 467KB
- Institute of Public Accountants (IPA) - DOCX 1MB
- Insurance Council of Australia (ICA) - PDF 180KB
- Joint consumer group submission – Consumer Action Law Centre (CALC), Choice, Consumer Credit Legal Service WA (CCLSWA), Financial Counselling Australia, Consumers Federation of Australia, Financial Rights Legal Centre, Care inc., Australian Shareholders’ Association, COTA - PDF 851KB
- Joint consumer group submission (supplementary) – CALC, Choice, CCLSWA, Care inc., Financial Counselling Australia, Financial Rights Legal Centre, Consumers Federation of Australian - PDF 306KB
- Law Council of Australia (Business Law Section) - PDF 521KB
- Law Council of Australia (Law Practice Section) - PDF 106KB
- Legal Aid NSW - PDF 798KB
- Minter Ellison - PDF 321KB
- NAB - PDF 191KB
- National Insurance Brokers Association (NIBA) - PDF 362KB
- Perpetual Corporate Trust - PDF 79KB
- Platinum Asset Management (PAM) - PDF 2MB
- Property Funds Association of Australia (PFA) - PDF 382KB
- QBE - PDF 492KB
- Schroders - PDF 184KB
- The Australian Finance Industry Association (AFIA) [Formerly Australian Finance Conference] - PDF 67KB
- The Australian Financial Markets Association (AFMA) - PDF 450KB
- Westpac - PDF 6MB