Improving outcomes for financial consumers: Design and Distribution Obligations and Product Intervention Power
The Government has today announced the key features of two reforms for consumers, to ensure Australians are treated fairly and ethically by financial product providers.
The Design and Distribution Obligations and the Product Intervention Power will ensure that financial products are targeted and sold to the right consumers, and where products are inappropriately targeted or sold, ASIC will be empowered to intervene in the distribution of the product to prevent harm to consumers.
Source: The Commonwealth of Australia