The Australian Securities & Investments Commission has invited industry feedback on proposed updates to Regulatory Guide 168, its guidance on Product Disclosure Statements (PDSs) and related disclosure obligations. The package is designed to consolidate existing PDS guidance into a single location and remove material that is not directly about PDS requirements. The proposed revisions would incorporate PDS disclosure, lodgement and notification guidance currently contained in other regulatory guides and information sheets into an updated RG 168, with those separate documents to be withdrawn. RG 168 would also remove guidance relating to Financial Services Guides and Statements of Advice, reframe its misleading and deceptive conduct material to highlight examples of general disclosure concerns with PDSs, and clarify the legislative basis for the Good Disclosure Principles. The guide provides policy guidance on preparing a PDS that complies with the Corporations Act 2001 and explains how ASIC monitors and enforces PDS requirements. Feedback is due by 5pm AEST on 6 August 2025, with a draft updated RG 168 and a summary of the proposed changes published as part of Consultation Paper CS 22.
Australian Securities & Investments Commission 2025-07-09
Australian Securities & Investments Commission consults on consolidated updates to Product Disclosure Statements guidance in Regulatory Guide 168
The Australian Securities & Investments Commission (ASIC) seeks industry feedback on proposed updates to Regulatory Guide 168, consolidating guidance on Product Disclosure Statements (PDSs) and related obligations. The revisions integrate PDS disclosure, lodgement, and notification guidance into RG 168, removing guidance on Financial Services Guides and Statements of Advice. The guide reframes misleading conduct material to address general PDS disclosure concerns and clarifies the legislative basis for Good Disclosure Principles, ensuring compliance with the Corporations Act 2001.