Target Market Determinations
Consolidated Funding Group Pty Ltd trading as Fairbanks Financial Group — credit activities conducted by Farzin Ghaffari Hesari (CRN 577919), Credit Representative of LMG Broker Services Pty Ltd ACN 632 405 504 ACL 517192 — acts as a distributor of credit products on behalf of authorised deposit-taking institutions and other credit providers. In accordance with our obligations under Treasury Laws Amendment (Design and Distribution Obligations) Act 2019 and ASIC Regulatory Guide 274, we publish the following Target Market Determinations (TMDs) for each credit product category we distribute.
General Information Notice: The information provided on this site is on the understanding that it is for illustrative and discussion purposes only. Whilst all care and attention is taken in its preparation any party seeking to rely on its content or otherwise should make their own enquiries and research to ensure its relevance to your specific personal and business requirements and circumstances. Terms, conditions, fees and charges may apply. Normal lending criteria apply. Rates subject to change. Approved applicants only.
What is a TMD?
A Target Market Determination (TMD) is a mandatory document that describes the class of consumers a credit product has been designed for. It helps ensure the right products reach the right consumers.
Our Role as Distributor
As a distributor, Fairbanks must take reasonable steps to ensure our credit assistance is consistent with each product's TMD. We must also report significant dealings and complaints to product issuers (lenders).
Reporting & Complaints
If you believe a product recommended to you was not suitable for your circumstances, please contact us. We are obligated to report significant dealings inconsistent with a TMD to the product issuer within 10 business days.
Our DDO Reporting Obligations
Under the Design and Distribution Obligations (DDO) framework, Fairbanks Financial is required to:
- Report significant dealings inconsistent with any TMD to the product issuer within 10 business days
- Maintain records of all distribution activities and consumer complaint data
- Report complaint numbers to product issuers as specified in each TMD
- Review our distribution practices if a TMD review trigger is identified
- Cease distributing a product if directed to do so by a product issuer or ASIC
Report a Significant Dealing
If you believe a product you were recommended by Fairbanks was inconsistent with its Target Market Determination, please contact our Compliance Officer. We take all such reports seriously and are required to investigate and report to the relevant product issuer.