Design and Distribution Obligations (DDO) – Australia

Product Description

The Design and Distribution Obligations (DDOs) are important laws that aim to help consumers obtain appropriate financial products. The DDOs require a customer-centered approach when designing and distributing financial products.

Most financial products under the Corporations Act are covered by the DDOs, including basic banking products (such as transaction accounts and term deposits), non-cash payments products, and insurance products. Consumer credit products under the National Consumer Credit Protection Act are also covered by the DDOs.

Staff of financial services businesses need to understand how the DDOs work. They need to know the implication of the DDOs for their role, and how it will affect their interaction with customers. There are significant penalties for business that fail to comply with the DDOs.

This short (20 minutes) training introduces the new laws to staff and helps them understand the importance of a target market determination (TMD) in the DDO framework, and how financial products must be promoted and distributed in line with the TMD.

Who should do this training?

The course is critical for customer-facing staff in retail financial services institutions. It is also a useful introduction for all staff in these businesses.

Course Outline

Module 1:

– Overview – the DDO laws

– Stepping up to the DDOs

  • DDO and savings accounts
  • DDO and loans
  • DDO and add-on insurance

Customise Course

Do you have a policy or process, or some subject-matter expertise that you would like to add to this course?
Talk to us about ways we can quickly tailor the course to suit your needs.

Enquire

Discover why so many companies choose GRC Solutions compliance training

"As a subscriber to the GRC Solutions weekly compliance bulletins, the BankVic team has found these a valuable resource for keeping up-to-date with new and changed regulatory and code obligations that affect the mutual banking industry, and how these changes might impact our organisation"

Compliance Manager at BankVic

"The project was extremely positive for both organisations. The GRC Solutions team delivered a visually impactful bespoke learning solution that met HCF requirements… on budget and ahead of deadline."

Compliance Manager at HCF

"I think that this was one of the best modules ever! Whoever created this module should be congratulated over and over. The fact that I have just spoken with a teacher who was having the very difficulties made the module more helpful. Once again thank you."

Pastoral Care, Mercedes College

“The ‘Adaptive’ learning feature is fantastic! It gives learners a sense of control of how they wish to learn and the opportunity to re-confirm/validate their existing knowledge.

The training content is easy to follow, with the use of case studies and relevant scenarios to demonstrate to learners how the content is applied in real life. As a Salt platform Administrator, my experience is made easy with the range of reports available and the patience and support of the GRC Support team, who are always ready and willing to help.”

Learning & Development Specialist at Allied Credit

"I wanted to compliment [GRC Solutions IT Manager] Cody Jones on providing a new customer with an exceptional level of service. Cody is responsive, helpful, no question is a problem and nothing is too much trouble. Cody gives us confidence combined with a pleasant personality which makes our Salt experience so much more manageable and enjoyable."

Risk, Safety & Compliance Officer, Mercy Education Limited

Clients that rely on us

Awards

OUR TROPHY CABINET

GRC Solutions’ team of legal, educational and technology specialists, working in partnership with our clients, win multiple awards, including Best Compliance Training Project at LearnXLive every year for over ten years. Imagine what we can do when we work with you!

Get in touch

Find out what we can do for your business

Get in Touch
Newsletter Optin