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Target Market Determinations

What’s a Target Market Determination?

A TMD is a written document that describes who a product has been designed for and conditions on how the product can be distributed to customers.

TMDs are required under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.

They are part of a broad framework designed to ensure we take a customer centric approach to the design and distribution of our products.

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DDO Reporting

Target Market Determinations

Frequently asked questions



Additional information for regulated persons

Under DDO, a regulated person engaging in retail product distribution conduct must report to the issuer information relating to:

  • complaints received in relation to the product; and
  • significant dealings that are not consistent with the TMD.

In addition, a TMD may specify that other information be reported to us by specified regulated persons.  Any specification of that kind does not limit the reporting obligations of regulated persons under the Corporations Act.

See the relevant TMD for further information.


Personal and Business Products

This information can be reported to ANZ via the relevant DDO Reporting form.

For more information, refer to our DDO reporting Quick Reference Guide.


Institutional Products

This information can be reported to your Relationship Manager or Transaction Banking Account Manager.

Target Market Determinations

Personal

ANZ Low Rate Credit Card (PDF 99.5kB)

ANZ Low Fee Credit Cards (PDF 100.5kB)
(ANZ First and ANZ Premium)

ANZ Rewards Credit Cards (PDF 102.1kB)
(ANZ Rewards, ANZ Rewards Platinum, ANZ Rewards Black and ANZ Rewards Travel Adventures)

ANZ Frequent Flyer Credit Cards (PDF 102.2kB)
(ANZ Frequent Flyer, ANZ Frequent Flyer Platinum, ANZ Frequent Flyer Black)

ANZ Smart Choice Super and Pension (PDF 251kB)
(This product is issued by OnePath Custodians)

ANZ Money Market Fund (PDF 2.2MB)
(This product is issued by OnePath Funds Management Limited)

ANZ Enhanced Yield Fund (PDF 2.1MB)
(This product is issued by OnePath Funds Management Limited)

ANZ Fixed Income Fund (PDF 2.2MB)
(This product is issued by OnePath Funds Management Limited)

ANZ Private Global Equities Trust (PDF 2.2MB)
(This product is issued by OnePath Funds Management Limited)

ANZ Global Equities (Actively Hedged) Fund (PDF 2.2MB)
(This product is issued by OnePath Funds Management Limited)

ANZ Private International Fixed Interest Fund (PDF 2.2MB)
(This product is issued by OnePath Funds Management Limited)

Staff Only

To request a copy of the TMD for ANZ staff only product: ANZ Plus and ANZ Save, please contact us at ANZPlusHelp@anz.com.

Non-Current TMDs

If you require a copy of a TMD that has ceased to apply, contact ANZ on 13 13 14.

 



Frequently asked questions

From 5 October 2021, DDO will require issuers and distributors to take a customer centric and targeted approach to the design and distribution of financial products. In doing so, DDO is intended to help customers acquire products that are consistent with their needs, objectives and financial situation.

DDO requires issuers to:

  • create and maintain a publicly available TMD for products in scope of DDO;
  • take reasonable steps that will, or are reasonably likely to, result in distribution being consistent with the TMD;
  • review the TMD to ensure that it remains appropriate;
  • notify ASIC of any significant dealings that are not consistent with the TMD; and
  • keep records of decisions made in relation to the TMD and associated reviews (together with the reasons for those decisions).

DDO requires distributors to:

  • not distribute a product unless a TMD is in place;
  • take reasonable steps that will, or are reasonably likely to, result in distribution being consistent with the TMD;
  • notify the issuer of significant dealings that are not consistent with the TMD; and
  • collect and keep complete and accurate records of certain information and provide that information to issuers.

Please refer to the relevant TMD and our DDO Reporting Quick Reference Guide for more information on how to report information to ANZ. 

Under DDO, these obligations apply to anyone who engages in “retail product distribution conduct”.

“Retail product distribution conduct” is defined under the Corporations Act 2001 (Cth) to include:

  • dealing in a financial product;
  • giving a disclosure document in relation to offering a financial product;
  • providing a PDS; and
  • providing financial product advice.

The TMDs set out distribution conditions that apply to the relevant products.  Distribution conditions are restrictions or conditions on distribution which, if followed, are intended to make it likely that the customer is in the target market for that product.

A TMD is not a recommendation, opinion or advice that any person acquire the product or is within the target market for the product. A particular person’s objectives, financial situation and needs may differ from others in the class of persons who form the target market for the product. A TMD does not summarise the terms or risks of the product. A TMD is not an offer of, or invitation to apply for, the product to any person in Australia or in any other jurisdiction. It does not set out all obligations of regulated persons in relation to the product or the TMD. Persons considering applying for a product should first contact ANZ to obtain information about the product and the application process.

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