Design and distribution
obligations (DDO)

Significant Event Notice (SEN)

What is DDO?

DDO requires issuers and distributors of financial products to have a customer-centric approach in designing and distributing its products, with the aim of helping customers to obtain financial products that are appropriate for their objectives, financial situation and needs.

The obligations apply to a broad number of financial products including (but not limited to) various Superannuation, Pension and Self-Managed Invest products offered by Hostplus.

What is a Target Market Determination?

A Target Market Determination (TMD) describes the target market for a financial product, explains any distribution conditions or restrictions on the sale of the product and establishes the reporting requirements for the distributors of its products. Hostplus publishes TMDs for products it offers, outlining the product’s target market and purpose.

Why does Hostplus need to have a Target Market Determination for its products?

Issuers  and distributors  of financial  products  must comply  with the design anddistribution  obligations  in Pt  7.8A  of the  Corporations  Act 2001 (Corporations  Act)  from 5  October  2021. The design  and distribution  obligations 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.  

In  particular,  issuers must  design  financial products  that  are likely  to  be consistent with  the likely  objectives,  financial situation and needs  of  the consumers for  whom  they are intended 

View the Target Market Determination
for Self Manage Invest:

What are the expectations of a distributor of Hostplus products?

A distributor is expected to understand the requirements we establish in the TMDs for our products.

This means a distributor will need to:

Distributor reporting requirements

Distributors of Hostplus products are required to report specific matters, such as complaints, distribution outside the TMD (unless it is based on personal advice) and significant dealings.

Complaints
A complaint is an expression of dissatisfaction made to us by an account holder (or someone legitimately representing their interests), related to our products or services where a response or resolution is explicitly or implicitly expected or legally required. Distributors should refer to ASIC’s guidance on complaints (Regulatory Guide 271 Internal Dispute Resolution) for further information.

The DDO obligations requires external distributors of our products to report to us the volume and details of any complaints they have received about the design or distribution of our products covered by our TMDs.

Sales of Product outside of TMD
Distributors should report all sales outside of the target market that were not based on personal advice. This should include an explanation as to why the distribution is outside the target market.

Significant dealings
A significant dealing report is intended to capture material or significant distribution of a product outside of its TMD.

Whether or not a dealing is significant will depend on a variety of circumstances, including the scale of distribution outside the target market and the risk of harm to those consumers from such distribution.

Each distributor will need to make an individual assessment in the circumstances of each case to determine when a dealing (or dealings) outside of a TMD is significant and needs to be reported to Hostplus immediately.

How do I report DDO related information to Hostplus?

Distributors are requested to use the DDO report form below to report to Hostplus any information requested by Hostplus in its TMDs and referred to above.

Submit distributor report to Hostplus


If for any reason you are unable to report to Hostplus via the above form, you can submit your DDO report to Hostplus via email to ddoreporting@hostplus.com.au.

Any DDO report submitted to Hostplus via email should include the following information:

If you need any assistance with the reporting, then please contact your Hostplus Relationship Manager/Contact or email your enquiry at ddoreporting@hostplus.com.au.

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Information is collected in accordance with the Hostplus privacy policy. The Hostplus privacy policy is available on the Hostplus website at hostplus.com.au/privacy or by calling us on 1300 467 875. The privacy policy explains how we handle personal information, how members can access and/or seek correction of their personal information and how members can make a complaint about a breach of privacy.

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