Design and Distribution Obligations (DDO)
Under the Design and Distribution Obligations (DDO), distributors are required to provide reporting to product issuers on details of their dealings with consumers. Neuberger Berman is adopting the industry standard FSC Target Market Determination (TMD) template and is taking a collaborative approach to work with distributors to ensure implementation. Our preference is for distributors to adopt the FSC Data Standards for DDO as it relates to the reporting of Complaints and Transactions / Dealings / Significant Dealings to the product issuer.
Reporting requirements for distributors:
- Complaints (as defined in section 994A(1) of the Corporations Act 2001 (Cth)) relating to the product design, product availability and distribution should be reported within 10 Business Days following the end of the subsequent calendar quarter.
- Transactions/Dealings/Significant Dealings:
- Any identified significant dealings outside the TMD should be reported to Neuberger Berman within 10 Business Days of becoming aware of the event.
- To the extent a distributor is aware, dealings outside the target market, including reason why acquisition is outside the target market and whether acquisition occurred under personal advice.
All reporting should be provided to Neuberger Berman via email at email@example.com.