Document ID: chunk:federal_register_of_legislation:C2025C00185:section:994e:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 994E (pt 2/2)
Character Range: 4178568–4179929

(1) and (3), reasonable steps in relation to a person are steps that, in the circumstances, the person is reasonably able to take that will, or are reasonably likely to, result in retail product distribution conduct in relation to the financial product being consistent with the target market determination for the product, taking into account all relevant matters, including:
 (a) the likelihood of any such conduct being inconsistent with the determination; and
 (b) the nature and degree of harm that might result from an issue or regulated sale of the financial product:
 (i) to retail clients who are not in the target market; or
 (ii) that is inconsistent with the determination; and
 (c) what the person knows, or ought reasonably to know, about:
 (i) the matters referred to in paragraphs (a) and (b); and
 (ii) ways of eliminating or minimising the likelihood and the harm; and
 (d) the availability and suitability of ways to eliminate or minimise the likelihood and the harm.
 (6) A regulated person is not taken to have failed to take reasonable steps for the purpose of paragraph (3)(d) if the person engages in retail product distribution conduct that:
 (a) relates to a particular retail client; and
 (b) relates to a particular financial product; and
 (c) is necessary to implement personal advice given to the client in relation to the product.