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Design and Distribution Obligations

Why product owners must own the DDO review process

Product led Design and Distribution Obligations (DDO) Compliance 

Following our blog post on the Design and Distribution Obligations checklist. We are going to explore how to conduct the mandated review when a trigger event or significant dealing occurs to arrive at one of the 5 possible outcomes ASIC has identified. 

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Here is how Skyjed facilitates the mandated review to arrive at one of the outcomes:

  • It allows you select a module of significant event review drivers
  • Facilitates a product audit to assess the most appropriate course of action
  • Facilitates peer review capturing comments 
  • Concludes an appropriate outcome and publishes your audit record
  • Builds and assigns your action plan for remediation and notification as require

Why Risk and Compliance teams should not be the ones to do this mandated review

Risk and compliance teams tend to lack the deep understanding of a product lifecycle to make meaningful product recommendations and conduct thorough reviews. Risk and compliance input as part of the review process however is incorporated and facilitated via Skyjed’s virtual teams capability.


Having the right tool to conduct and record this review is crucial to successfully managing and remediating in market products that may have faltered. Join us on Thursday 20th May at 11am to see how Skyjed provides the product owner a complete end-to-end solution for DDO compliance.

 

Common mistakes companies are making for Target Market Determination:

Companies are making the mistake of creating overarching TMDs instead of product specific ones. That can lead to the inappropriate sale of products to consumers and in turn force ASIC to invoke product intervention powers and remove products from sale. Cutting corners by taking an umbrella approach risks getting the attention of the regulator who is gearing up for efficient mass scale enforcement.

 

The 4 Steps to comply with Design and Distribution Obligations

1. Design, distribute and monitor your Target Market Determinations (TMD)
2. Distributor/Issuer integration
3. Set, monitor and review significant dealing triggers
4. Automate reporting and record keeping

Skyjed’s DDO Essentials package will get you compliant quickly and very cost effectively. Don’t miss this opportunity to see how Skyjed is helping many financial organisations across the country meet the October 5 deadline. Join our DDO Essentials Webinar on Thursday 20 May, 11am AEST.

Sign up to our DDO Webinar on May 20, 11am AEST (THU)

Sign Up

 

Why you should attend:

Skyjed's Product design feature includes everything needed to set and monitor a target market determination.  This workflow includes distribution conditions, review triggers and review frequency. 

See how the product TDM can be customised to suit business requirements with our editing tool and published into a document. 

Learn about our unique features in the Skyjed solution - governance scheduler, automated product monitoring reports and risk profiles to operationalise DDO.