ASIC flags surveillance around DDO compliance

The Australian Securities and Investments Commission (ASIC) believes the financial services industry has had long enough to bed down the design and distribution obligations (DDO) regime and has flagged adopting a tougher approach.
Included in that tougher approach will be a surveillance exercise and the possibility of ASIC action where it detects shortcomings.
ASIC chairman, Joe Longo has told a governance summit today that the regulator believes the industry “is reaching a point where it has had sufficient time to bed down its implementation of the regime”.
“We will therefore be expecting compliance with the regime, and across this year we will pursue a targeted surveillance approach,” he said.
Longo said that, out of that surveillance, ASIC would be moving to enforce the obligations where necessary.
The fee test pass or fail was based around an assumed balance of $50,000? What retiree has $50,000.... and of…
Industry Super funds that have unlisted investments in sustainable projects, outperform as these assets are valued by an independent board…
Not sure what this is about at all. Last APRA Test was 31/8/23. Why is this old headline here?
Actually APRA do plenty, they are actively encouraging both Industry Super and Unlisted Assets with made up valuations. When this…
Dah, of course loads of Investments that are Listed and show real values will struggle to meet APRAs tests. Clearly…