Design and Distribution Obligations
HomeStart is required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.
This is to make sure we’re keeping customers at the centre of our approach to the design and distribution of our regulated credit products.
What is a Target Market Determination?
A Target Market Determination is a document which describes who a product is appropriate for (the target market), and any conditions around how the product can be distributed to customers and describes:
- the class of customers who comprise the product’s target market
- any conditions and restrictions on how the product can be distributed to customers
- events or circumstances that will require us to review the Target Market Determination for a financial product
- (for some products) the information that third party distributors (mortgage brokers) must provide to HomeStart
It also describes the events or circumstances where we may need to review the Target Market Determination for any of our home loans.
