Target Market Determination
Important
From 5th October 2021, we (that is, Principal Finance Pty Ltd and Premium Funding Pty Ltd as subsidiaries of PF BidCo Pty Ltd trading as Arteva Funding) are required by s.994B of the Corporations Act 2001 (Cth) to have a Target Market Determination for their domestic premium funding loan product.
What is a Target Market Determination
A Target Market Determination seeks to help consumers obtain appropriate financial products.
It describes –
- the design of the product concerned (including its key attributes)
- the appropriate target market for the product
- any conditions and restrictions on distribution of the product and when the Target Market Determination needs to be reviewed
The aim is to ensure a customer focus in the design and distribution of financial products.
Access our Target Market Determination – domestic premium funding here.
Obligations of distributors
Those who wish to distribute our domestic premium funding loan product also have obligations under s.994E(3) and s.994F of the Corporations Act 2001 (Cth).
The above Target Market Determination describes those obligations.
They include that distributors must take reasonable steps to distribute the product consistently with the Target Market Determination, and that they must report to us certain information which is specified in the Target Market Determination within the time frame specified.
Such reports should be made to us at compliance@arteva.com.au.