The Australian Securities & Investments Commission (ASIC) opened a consultation on proposals to keep existing relief that supports digital delivery of financial services disclosures by remaking two electronic disclosure legislative instruments that are due to sunset on 1 October 2025, and by updating Regulatory Guide 221 Facilitating digital financial services disclosures (RG 221). ASIC proposes to remake ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647 and ASIC Corporations (Removing Barriers to Electronic Disclosure) Instrument 2015/649 for a further five years. The first instrument allows financial services providers to publish disclosures digitally and notify clients that the disclosure is available, while the second relaxes requirements relating to page length, the copy that can be provided on request, and placement of titles for electronic disclosures. Proposed RG 221 updates include simplified drafting, refreshed legislative and instrument references, revisions to Section D to centralise digital disclosure practice guidance and link to relevant legislative obligations, and updated examples to reflect that ASIC does not mandate a particular digital disclosure method. Submissions are due by 5pm on 6 August 2025.
Australian Securities & Investments Commission 2025-07-09
Australian Securities & Investments Commission consults on five-year remake of electronic disclosure instruments and updates to RG 221
The Australian Securities & Investments Commission (ASIC) is consulting on extending relief for digital financial services disclosures by remaking two electronic disclosure instruments expiring on 1 October 2025 and updating Regulatory Guide 221. The extensions allow digital disclosures and ease requirements, with RG 221 updates including simplified drafting and revised digital disclosure guidance.