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

 

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Last updated: 20/10/2014 12:00