Australian Securities & Investments Commission updates RG 221 guidance to clarify expectations for digital financial services disclosures

The Australian Securities & Investments Commission has updated Regulatory Guide 221 Facilitating digital financial services disclosures (RG 221) following an industry consultation, aiming to remove outdated references and set clearer expectations for digital disclosures. The changes follow submissions on Consultation Paper 23 Proposals to continue to facilitate digital disclosure (CS 23) and relate to how Parts 7.7 and 7.9 of the Corporations Act 2001, relevant regulations and legislative instruments apply to the digital delivery of financial services disclosures. ASIC also pointed to ASIC Corporations (Electronic Disclosure) Instrument 2025/447, which provides relief to allow financial services providers to publish disclosures digitally and notify clients that the disclosure is available, and published a summary of feedback and responses along with non-confidential submissions.