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Need any help understanding Target Market Determinations?
What is a Target Market Determination ( TMD)?
A Target Market Determination is a document which describes who a financial product may be appropriate for (ie. target market), and how the product can be distributed to members.
It also describes the circumstances where we may need to review the TMD for a financial product, and any reporting to be provided to us by our third-party distributors or referrers.
Please note a TMD is not intended to provide financial advice. When making a decision about a product you should refer to the relevant terms and conditions and any supplementary document(s).
Why does People’s Choice need to have Target Market Determinations?
We are required to make Target Market Determinations available under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.
This is to make sure we continue to focus on our members when designing and distributing our financial products.
If you are a distributor or referrer of our products, what is expected?
Any distributors or referrers of our retail financial products under the Product Design and Distribution Obligations (DDO) laws are expected to:
• understand the target market defined in a TMD;
• adhere to the distribution conditions and restrictions outlined in the TMD;
• collect, keep and provide information as specified within the TMD; and
• report to us any significant dealings inconsistent with the TMD.
If you are looking to report information to People’s Choice, please contact your relationship manager.
Target Market Determination documents
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