ASIC Proposes Updates to Product Disclosure Guide

ASIC is inviting industry feedback on proposed updates to Regulatory Guide 168 Disclosure: Product Disclosure Statements (and other disclosure obligations) (RG 168).

This is part of our commitment to reducing regulatory complexity, enhancing clarity and improving accessibility for all stakeholders.

ASIC recognises that regulatory complexity is a significant challenge, and simplifying guidance improves the industry's ability to prepare Product Disclosure Statements (PDSs).

The proposed updates include:

• incorporating guidance on PDS disclosure, lodgement and notification obligations from other RGs and information sheets into RG 168
• withdrawing information sheets and RGs containing other PDS disclosure, lodgement and notification guidance proposed to be incorporated into the updated RG 168
• removing guidance in RG 168 relating to Financial Services Guides and Statements of Advice
• reframing the existing guidance on misleading and deceptive conduct in RG 168 to highlight examples of general disclosure concerns with PDSs, and
• clarifying the legislative basis for the Good Disclosure Principles in RG 168.

An updated draft of RG 168, information about our consultation and a summary of the changes proposed are available at CS 22 Proposed update to ASIC's guidance on Product Disclosure Statements.

Providing feedback