The Australian Securities and Investments Commission on Thursday released a consultation paper for the new design and distribution obligations (DDO) for financial services groups — the newest tool in ASIC’s expanded armoury.
Read more at The Age.
ASIC hopes new rules will stamp out bad bank products
The corporate regulator hopes new draft rules governing a range of financial products will stop banks and super funds from designing and distributing bad products like junk insurance and near worthless superannuation 'cash' options.
