ASIC consults on proposals to update PDS guidance
On 9 July 2025, ASIC released Simple Consultation 22: Proposed update to ASIC's guidance on Product Disclosure Statements (PDSs), inviting industry feedback on proposed revisions to Regulatory Guide 168 Disclosure: PDSs (RG 168).
Key proposed changes include:
- incorporating PDS-related guidance from other regulatory guides (RGs) and information sheets into a single RG 168;
- withdrawing information sheets and RGs (such as RG 65, RG 66, RG 197, RG 219, and INFO 94 and INFO 155) once incorporated into the revised RG 168;
- clarifying the legislative basis for the Good Disclosure Principles;
- updating guidance on misleading and deceptive conduct to highlight examples of general disclosure concerns; and
- removing guidance on Financial Services Guides and Statements of Advice which is already addressed in RG 175.
Submissions on ASIC's proposed changes close at 5pm on 6 August 2025.
ASIC consults on continuation of digital disclosure relief
On 9 July 2025, ASIC announced that it is seeking feedback on Simple Consultation 23: Proposals to continue to facilitate digital disclosure.
Key proposals include:
- remaking two legislative instruments—ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647 and ASIC Corporations (Removing Barriers to Electronic Disclosure) Instrument 2015/649—which sunset on 1 October 2025. These instruments currently enable digital delivery of financial services disclosures using the 'publish and notify' method and relax certain requirements for electronic disclosure; and
- updating Regulatory Guide 221 Facilitating digital
financial services disclosures by:
- simplifying the guidance;
- updating outdated legislative references;
- reviewing guidance on digital disclosure practices; and
- updating examples of digital disclosures methods.
Submissions on ASIC's proposed changes close at 5pm on 6 August 2025.
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