Tag: DDO

September 06, 2023 BY Elizabeth Anderson

ASIC tightens high-risk and OTC derivatives product distribution

A recent targeted review, which examined the DDO practices of sample financial issuers, found most retail clients lost money when trading CFDs. The ASIC deputy chair, Karen Chester, said:  ASIC is disappointed that some high-risk retail product issuers have changed little in response to their design and distribution obligations (DDO).  DDO requires companies to design…

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June 02, 2023 BY Alan Sayer

ASIC Issues DDO Stop Order Against Mitrade Global

ASIC's concerns were raised by a retail investor questionnaire that Mitrade used as a key step for compliance with its obligations. The questionnaire gave prompts to a prospective retail investor to review any "unacceptable answer" that would indicate that the investor was not likely to be in the target market for the products. They said…

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