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ConsumerDataStandardsAustralia / future-plan

Repository of future demand for work by the DSB. Used to manage demand and prioritisation for up to twelve months ahead.
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DSB Item - Internal research on Design and Distribution Obligations (DDO/TMD) #39

Open CDR-API-Stream opened 3 years ago

CDR-API-Stream commented 3 years ago

Problem Statement

Design and Distribution Obligations are adjacent regulations which financials services must comply with. Regulations for DDO commence from 5th April 2021.

The DDOs are intended to help consumers obtain appropriate financial products by requiring issuers and distributors to have a consumer-centric approach to the design and distribution of products. This takes into account a number of factors including financial situation and the needs of the consumer as well as making a target market determination for the products issued by the financial institution.

These regulations will have impact to the CDR across PRD and consumer data. A review of these changes in collaboration with industry will be conducted to determine the impacts to the CDR data standards and any necessary changes arising to accomodate DDO within CDR data.

CDR-API-Stream commented 3 years ago

This issue has been labelled as blocked because the DSB wishes to ensure banks have sufficient time to meet their DDO obligations before considering the impact to the CDR. Regulations for DDO are due to commence from 5th April 2021.

JamesMBligh commented 2 years ago

Modified to focus on internal research due to the caretaker period

markverstege commented 1 year ago

This item has been moved to Q4 2022. Consultation did not occur in Q3 2022 as planned due to capacity and volume of community consultation.