Tag: design and distribution obligations

1
ASIC gears up enforcement activity
2
Australia: ASIC Stays True to DDO Enforcement Promises

ASIC gears up enforcement activity

By Jim Bulling and Anabelle Weinberg

1. ASIC takes further action on greenwashing

ASIC has issued three infringement notices to investment manager Vanguard Investments Australia Ltd (Vanguard) in further action against alleged greenwashing.

ASIC was concerned that Product Disclosure Statements for the Vanguard International Shares Select Exclusions Index Funds may have misled the public by overstating an investment screen which claimed to prevent investment in companies involved in significant tobacco sales. 

Read More

Australia: ASIC Stays True to DDO Enforcement Promises

By Kane Barnett and Bernard Sia

Since 1 October 2021, when the design and distribution obligations (DDO) commenced, ASIC has issued 13 DDO‒related stop orders.

What has non-compliance looked like so far?

ASIC’s first DDO stop order was issued in July 2022 when ASIC identified a target market determination (TMD) that included retail investors for whom the investment would not be appropriate. The other initial interim stop orders related to the failure to prepare a TMD.

Read More

Copyright © 2022, K&L Gates LLP. All Rights Reserved.