ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) RG274.177-200: Distributors: collect and use consumer information to judge whether the consumer is in the target market

Where the risk warrants it, a distributor should collect or review information about consumers to judge whether they are likely to be in the target market, and must not sell where its own records show the consumer is outside it. Asking questions only to decide target market fit, and telling the consumer the result, is not of itself personal advice, but going further can be. If out-of-market consumers keep seeking the product, the distributor should tell the issuer.