IMAP and the Financial Services Council (FSC) have developed a template specifically for Managed Accounts that complies with the FSC developed industry data standards to facilitate compliance with the new Design & Distribution obligations (DDO) laws that take effect on 5th October 2021.
FSC says the templates will help product issuers and distributors comply with the new regulatory regime.
“The DDO regime requires financial product issuers to identify a target market for each of their products i.e. Managed Accounts and share information with third parties, including financial advisers, to understand the consumers who have purchased their products,” FSC CEO Sally Loane has said. “Standardisation of information and data is important to the success of the DDO regime."
IMAP and FSC have provided a webinar to address this situation (see video below)
What You Need to Do to Obtain the Managed Accounts DDO Template
Provide your details by filling out the IMAP form below and IMAP will forward a copy of the DDO template to you, and an invoice with credit card payment options
Cost
(Please note that IMAP is passing your payment to the FSC in full)
$500 plus GST for licensee/ adviser organisations who are not financial IMAP subscribers
(you can subscribe to IMAP here if you wish)
$250 plus GST for IMAP subscriber organisations