Know Your Distributor

The team at Know Your Distributor has been busy the last few months working with Australian Product Issuers and Distributors to update and enhance the due diligence questions which form the basis of the KYD solution. Thank you to all who provided valuable input and feedback - the updated DDQ was launched last month 🚀 🚀 🚀   Alongside the updated DDQ, changes have been made to the independent review service to provide deeper insights to Product Issuers including (but not limited to): 📄 AFS Licensing authorisation matching 🕵 AFCA membership currency 💻 Assessment of availability of complaints mechanisms 🗂️ Auditor details 🔍 PEP & sanctions screening of entity & Directors 📰 Adverse media checks   Talk to the KYD team about how this holistic approach to Distributor oversight is supporting Australian Product Issuers in meeting compliance with the #DDO reasonable steps obligations.   #smarternotharder #poweredbyRegTech

This week marks three years since the commencement of the Design and Distribution Obligations 😲 ASIC has been active in enforcement of the regime: 🛑 issuing more than 80 stop orders which have suspended #Issuers from offering their products in the market. 👩⚖️ Off to court five times (and counting!) with three successful outcomes to date. Post Report 795, ASIC is now turning attention from TMDs to the reasonable steps obligation and focusing on Distributor oversight arrangements. Know Your Distributor has been here since Day 1 supporting Australian #Issuers and #Distributors with RegTech enabled, efficient and cost effective solutions for Distributor oversight. Reach out to our team of practitioners - Jon O'Keeffe | Tanushree Dabral | Amber McSharry - to learn more! #smarternotharder #poweredbyRegTech #DDOcompliance

Australia's leading RegTech solution for Distributor oversight is not constrained by a lack of talent 😉 Get in touch to learn more about Know Your Distributor's efficient and cost effective solution 🏄♀️ #DDOcompliancemadeeasy https://lnkd.in/gqMZ59WN

Know Your Distributor (KYD) welcomes ASIC Report 795 which provides Product Issuers and Distributors with more guidance on the Regulators expectations on compliance with the #DDO reasonable steps obligations. KYD is the leading #RegTech solution in Australia for Distributor oversight which is a critical part of taking reasonable steps. KYD provides Product Issuers with a robust, cost effective and efficient solution to gather, analyse and report on Distributor due diligence. Reach out to the KYD team (Jon O'Keeffe | Tanushree Dabral | Amber McSharry) to find out why more Australian Product Issuers are adopting KYD as their Distributor oversight solution 🙂 #smartercompliance #poweredbyRegTech

Hot on the heels of the ASIC v Firstmac decision, the Federal Court has handed down judgement in the ASIC v American Express case applying penalties of $8m 😐 🚨 Justice Jackman issued a warning to Issuers and Distributors of Financial Products in finding that "𝑎 𝑝𝑒𝑛𝑎𝑙𝑡𝑦 𝑜𝑓 𝑡ℎ𝑖𝑠 𝑜𝑟𝑑𝑒𝑟 𝑒𝑛𝑠𝑢𝑟𝑒𝑠 𝑖𝑡 ℎ𝑎𝑠 𝑎 “𝑠𝑡𝑖𝑛𝑔” 𝑠𝑢𝑓𝑓𝑖𝑐𝑖𝑒𝑛𝑡 𝑡𝑜 𝑑𝑒𝑡𝑒𝑟 𝑏𝑜𝑡ℎ 𝑟𝑒𝑝𝑒𝑡𝑖𝑡𝑖𝑜𝑛 𝑏𝑦 𝐴𝑚𝑒𝑟𝑖𝑐𝑎𝑛 𝐸𝑥𝑝𝑟𝑒𝑠𝑠 𝑎𝑛𝑑 𝑐𝑜𝑛𝑡𝑟𝑎𝑣𝑒𝑛𝑡𝑖𝑜𝑛 𝑏𝑦 𝑜𝑡ℎ𝑒𝑟 𝑝𝑟𝑜𝑣𝑖𝑑𝑒𝑟𝑠 𝑜𝑓 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑝𝑟𝑜𝑑𝑢𝑐𝑡𝑠, 𝑎𝑛𝑑 𝑜𝑛𝑒 𝑡ℎ𝑎𝑡 𝑔𝑜𝑒𝑠 𝑏𝑒𝑦𝑜𝑛𝑑 𝑏𝑒𝑖𝑛𝑔 𝑎 𝑚𝑒𝑟𝑒 𝑐𝑜𝑠𝑡 𝑜𝑓 𝑑𝑜𝑖𝑛𝑔 𝑏𝑢𝑠𝑖𝑛𝑒𝑠𝑠." #DDOcompliance

We take pride in the work we do to support clients. And even more pride playing our part to support the broader community.    As part of #PXforGood, our team is delighted to support a number of organisations in their important, life changing work.   Our company’s existence is not lonely. It is part of a bigger ecosystem of people, values, other organisations and nature.    Our social responsibility is to give back to the world just as it gives to us. 🌏 💚 🌏 💚 🌏 💚 #workforpurpose #pxforgood

#Eid #Eidmubarak #KYD

Leading #RegTech + advice from experienced GRC Practitioners = sustainable and pragmatic compliance solutions. Get in touch to learn more about how Product Issuers are embracing the leading oversight technology to simplify processes and reduce costs for all!

The DDO regime in Australia is still in it's infancy with Product Issuers and Distributors settling and iterating processes to meet compliance. Know Your Distributor provides not only the leading #RegTech solution but also the insights of GRC Practitioners who can advise on what sustainable compliance looks like based on experience and market insights. #smarternotharder #solutionsfocussed