What is a Target Market Determination?

What is a Target Market Determination?

A Target Market Determination (TMD) is a legal document which describes who a product is appropriate for (target market), and any particular conditions that determine how the product can be distributed to customers.

A TMD is a document which lays out:

• the people for which the product has been designed,
• the conditions around the product’s distribution,
• when the TMD will be legally reviewed, and
• the record keeping and reporting obligations of financial product distributors.

Please note a TMD is not intended to provide financial advice.