Design and Distribution Obligations (DDO)

The Design and Distribution Obligations (DDO) introduce a new approach to consumer protection, by introducing new measures to improve the likelihood that products are distributed to clients for whom they've been designed (ie the target market).

Important dates
  • On 5 October 2021, the Design and Distribution Obligations (DDO) will come into effect for all issuers and distributors of financial products that are covered by DDO.
  • From 5 October you can report any significant dealings via our DDO Online portal^. To lodge DDO reports, you will need to register for access to the DDO Online portal by completing our DDO Online user registration form.
  • From 1 January 2022, you will also be able to lodge complaint reports via the portal.

Target market determination (TMD)

TMDs explained

IOOF is required to make a Target Market Determination (TMD) for all products. The TMD is required to be in writing and will be clearly set out with details relating to the target market.

It's our responsibility to create a TMD for each product covered by DDO that:

  • describes the target market and key attributes of the product
  • outlines distribution conditions: this details the conditions or restrictions on the distribution of this product
  • establishes reporting requirements: sets out the relevant information that must be provided to a product issuer by distributors, and at what frequency. At a minimum, a distributor must regularly report the number of complaints it receives about the product to the issuer, and also report on significant dealings in the product that are inconsistent with the TMD.
  • specify the review triggers that would lead to a review of the TMD, and also specify the review periods.

It is important to note that a TMD is not a disclosure document. Depending on the type of distribution conduct, advisers will need to use the TMD to meet their relevant obligations. 

We are required by law, under Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019  to have TMD documents in place by 5 October 2021. View our TMDs.

Find out more information about DDO 

^ Please note the portal is for DDO reporting only. If you want to provide feedback or lodge a complaint about an IOOF product or service please contact 1800 913 118 (Monday - Friday, 8:30am - 5:30pm AEST) or your Client Solution Manager