The Australian Securities & Investments Commission has remade its deposit product disclosure relief, continuing to exempt authorised deposit-taking institutions (ADIs) from having to include interest rates in deposit product Product Disclosure Statements (PDS) and termination values in periodic statements. The new ASIC Corporations (Deposit Product Disclosure) Instrument 2025/509 extends the previous relief until 1 October 2030. The relief removes the requirement to issue a new or supplementary PDS each time interest rates change, subject to the PDS clearly explaining where depositors can find current interest rates and that this information is simple and convenient to access. It also relieves ADIs from including termination values in periodic statements, while requiring any restrictions or fees on early termination to be disclosed in the deposit product PDS. ASIC said it assessed the instrument as generally operating effectively, noted one supportive submission received after a July 2025 feedback request, and will continue monitoring the relief’s appropriateness and stakeholder feedback.
Australian Securities & Investments Commission 2025-09-15
Australian Securities & Investments Commission extends deposit product disclosure relief for ADIs to 1 October 2030
The Australian Securities & Investments Commission has extended its deposit product disclosure relief for authorised deposit-taking institutions (ADIs) until 1 October 2030. This exempts ADIs from including interest rates in Product Disclosure Statements (PDS) and termination values in periodic statements, provided current interest rates are accessible and early termination restrictions or fees are disclosed in the PDS. ASIC will monitor the relief's effectiveness and stakeholder feedback.