ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia)
ASIC's regulatory guide on the design and distribution obligations: how issuers and distributors of financial and credit products should run product governance, prepare and publish target market determinations, take reasonable steps, review TMDs, notify significant dealings, report to issuers and keep records.
ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) is a compliance framework from Australia (Commonwealth) with 4 domains and 21 controls. The largest domains are Section D: Issuers, target market determinations – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) (7 controls), Section C: Product governance arrangements – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) (5 controls), Section E: Distributors – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) (5 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (4)
Section C: Product governance arrangements – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia)
| Code | Title |
|---|---|
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.32-34 | Implement robust and effective product governance arrangements across the product life cycle |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.39-47 | Run a product design and approval process that tests fit with a class of consumers |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.48-49 | Build distribution controls and a feedback channel between product design and distribution |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.50-51 | Monitor product performance and consumer outcomes after launch |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.52-58 | Document, implement, embed and periodically review the product governance arrangements |
Section D: Issuers, distribution, review, reporting and records – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia)
| Code | Title |
|---|---|
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.140-148 | Issuers: take reasonable steps so that distribution is consistent with the TMD |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.149-157 | Review the TMD periodically and on triggers, and stop distribution until the review is done |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.158-164 | Issuers: notify ASIC of significant dealings inconsistent with the TMD within 10 business days |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.165-166 | Issuers: keep records of TMD decisions with reasons and data |
Section D: Issuers, target market determinations – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia)
| Code | Title |
|---|---|
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.103-108 | Specify product-specific review triggers |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.109-112 | Set reasonable maximum periods for the first and later reviews |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.113-119 | Specify the information distributors must report, who reports and when, including complaints |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.137-139 | Publish the TMD before any distribution |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.59-63 | Prepare a written TMD with every element the Act requires (s 994B(5)) |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.64-95 | Make the TMD appropriate: describe a target market whose needs the product and its key attributes are likely to meet |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.96-101 | Set distribution conditions that direct distribution to the target market |
Section E: Distributors – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia)
| Code | Title |
|---|---|
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.167-176 | Distributors: take reasonable steps so that distribution is consistent with the TMD |
| 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 |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.212-216 | Distributors: notify the issuer of significant dealings within 10 business days |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.217-220 | Distributors: report complaints and the TMD-specified information to the issuer within 10 business days after each period |
| asic-regulatory-guide-274-product-design-and-distribution-obligations-australia::RG274.221-224 | Distributors: keep records of distribution information |
What is ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) and who does it apply to?
ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) is a compliance framework from Australia (Commonwealth) with 4 domains and 21 controls. ASIC's regulatory guide on the design and distribution obligations: how issuers and distributors of financial and credit products should run product governance, prepare and publish target market determinations, take reasonable steps, review TMDs, notify significant dealings, report to issuers and keep records. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) actually require?
ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) has 21 controls organised across 4 domains. The largest domains are Section D: Issuers, target market determinations – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) (7 controls), Section C: Product governance arrangements – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) (5 controls), Section E: Distributors – ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) (5 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) do I already cover?
ASIC Regulatory Guide 274 Product Design and Distribution Obligations (Australia) does not currently have cross-framework mappings in our system. Check back as we continuously expand our mapping database.
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