From 5 October 2021, issuers and distributors of financial products in Australia have to comply with the design and distribution obligations in Pt 7.8A of the Corporations Act 2001 (Corporations Act).

DDO fundamentally changes how financial products are distributed to retail consumers, requiring issuers and distributors to have a consumer-centric approach to the design and distribution of products. It requires:

• issuers to design products that are consistent with the likely objectives, financial situation and needs of the consumer for whom they are intended;
• issuers and distri...