Design and Distribution Obligations (DDO) took effect 5 October 2021 to help retail customers choose suitable products.

We’ve kept these documents as simple as possible – each TMD is 3 to 4 pages, follows a standard structure and describes:

  1. the intended customer
  2. conditions for distribution of the product to the customer
  3. situations triggering review of the TMD and
  4. any related reporting requirements for distributors

Products no longer for sale

Reporting

The DDO requires us to collect information from our distributors to monitor the distribution of our products – the information we require is set out on the last page of our Target Market Determinations (TMDs). 

Complaints reporting

Any complaints reporting we require is aligned with paragraph RG 271.182 of Regulatory Guide 271 Internal dispute resolution. Data must be aggregated per product and per nature of complaint, and any personal information (such as Customer Name) must not be included.

Required information includes the number and nature of complaints per product, as well as the time taken to respond to the complaint. Distributors will be required to provide:

  • Distributor details including distributor name and AFSL/ACL as well as contact name, email and phone number.
  • Product name.
  • Nature of complaint.
  • Detail ie For the above product and nature of complaint during the reporting period:
    • Number of complaints a) received b) closed.
    • Average time (business days) to a) acknowledge complaints b) resolve or finalise the complaint.
    • Number of complaints.
    • Total amount paid to complainants to resolve complaints.
    • Whether a possible systemic issue is identified.
    • Number of complaints escalated to AFCA.
    • Proportion of complaints received from customers who purchased the product.
    • Description of any complaints which resulted in significant harm or detriment of any type to the customer.
    • Any comments about the information to be submitted.

From October 2021, our distributors must provide 6-monthly reports of any complaints received about the product and its distribution, with any reports to be provided in the first 10 business days of April and October each year. Distributors are not required to submit a report of 'nil' complaints.

During the submission period, report any complaints via the online form below. This form is only active during the submission period.

Reporting will open again in October 2024

Significant dealings

In the unlikely event of a significant dealing, notify us via DDO_Bank@ampbanking.com.au as early as possible, and within 10 business days of becoming aware.

You may include any information you deem relevant. You can also use this email address to provide any other relevant feedback on DDO matters.

Important information

It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.

This information is provided by AMP Bank Limited. Read our Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.

All information on this website is subject to change without notice. All banking products are issued by AMP Bank Limited ABN 15 081 596 009, AFSL and Australian Credit Licence 234517.

Information including interest rates is correct as at 6 September 2019 and is subject to change without notice. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30.

It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement, Target Market Determination or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.