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Requiring firms to only sell financial products we can use is good, but not enough

Written by Kevin Davis, Professor of Finance, University of Melbourne

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The government’s financial system inquiry, on which I sat, reported five years ago.

It recommended that the creators of financial products be subject to a design and distribution obligation (DDO), which would mean the products they sold had to not only make money for them, but also meet the needs of the people buying them.

An...

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