7.8A.10
CurrentCustodial or depository services
Chapter 7Financial services and markets
Part 7.8ADesign and distribution requirements relating to financial products for retail clients
Division 2Financial products for which target market determinations are required
7.8A.10 Custodial or depository services
A person must make a target market determination for a financial product if:
(a)
the product includes a custodial or depository service; and
(b)
but for this regulation, Part 7.8A of the Act would not apply in relation to the financial product; and
(c)
the custodial or depository service is to be provided to a retail client; and
(d)
the person is the issuer of the product.
Note:
The person must make the determination before any person engages in retail product distribution conduct in relation to the product: see subparagraph 994B(2)(b)(ii) of the Act.
This Act’s bill:Explanatory statement
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