RG 221 Facilitating digital financial services disclosures
Issued 29 March 2016
This is a guide for financial services providers that use (or plan to use) technology, including email and the internet, to deliver financial product and financial services disclosures to clients. It:
- explains how under Pts 7.6–7.9 of the Corporations Act 2001 (Corporations Act) most disclosures can be delivered digitally;
- outlines our view that in most cases it will be clear from the context that a client has provided or nominated their electronic address for the purpose of receiving disclosure under the Corporations Act, and no higher standard of consent is required to send to an electronic address compared to non-electronic methods;
- describes the relief available under ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647 to facilitate the delivery of disclosures by making the disclosure available digitally and notifying the client;
- describes the relief available under ASIC Corporations (Removing Barriers to Electronic Disclosure) Instrument 2015/649 to remove potential barriers to more innovative disclosure; and
- sets out our ‘good practice guidance’ on digital disclosure.