Financial product disclosure
Under the Corporations Act, a retail client may receive a number of disclosure documents before acquiring a financial product.
ASIC has published some Good Disclosure Principles to help product issuers and other professionals in preparing a Product Disclosure Statement (PDS). They will also be useful when preparing other disclosure documents for retail clients.
The Corporations Act facilitates the use of shorter, simpler PDSs by allowing Short-Form PDSs and incorporation by reference, and by applying a tailored disclosure regime to some products. ASIC has procedures in place to monitor and assess PDSs once issued.
See:
RG 168 Disclosure: Product disclosure statements (and other disclosure obligations)
RG 221 Facilitating online financial services disclosures
- Notification requirements for Product Disclosure Statements
- Lodging PDS notices online
- Shorter PDS regime -Superannuation managed investment schemes and margin lending
- Certificates issued by a qualified accountant
- Disclosure of credit ratings in Australia
- Regulatory tracker
