Australian Securities & Investments Commission seeks feedback on proposed stamp duty and private debt disclosure changes for super funds

The Australian Securities & Investments Commission (ASIC) has opened a feedback process on proposed changes to stamp duty and portfolio holdings disclosure requirements for superannuation funds, following its targeted review of superannuation investment disclosure settings announced in August 2025. On stamp duty, ASIC proposes that fees and costs summaries disclose stamp duty as an average amount over seven years rather than an annual sum, which would require amendments to ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070. On private debt, ASIC proposes class order relief for superannuation trustees to align portfolio holdings disclosure for internally managed private debt with externally managed private debt, addressing concerns that current rules can require disclosure of individual asset values in circumstances that may risk confidentiality. The proposals were informed by a working group comprising industry, consumer advocates and government and regulatory representatives, and drew on feedback raised at the Treasurer’s Investor Roundtable. Feedback is requested by 5pm AEDT on 20 February 2026, supported by consultation materials titled “CS 38 Proposed relief for disclosure of private debt arrangements” and “CS 39 Proposal to amend stamp duty disclosure requirements”. ASIC also committed to bringing forward a broader review of Regulatory Guide 97 Disclosing fees and costs in PDSs and periodic statements to the 2026–27 financial year.