The Australian Securities & Investments Commission has announced two disclosure changes for the superannuation and investment management sectors following consultation. Stamp duty paid in one year will now be disclosed over the following seven years in fees and costs summaries in Product Disclosure Statements (PDSs), rather than as a single annual amount, and superannuation trustees will receive class order relief that aligns portfolio holdings disclosure for internally managed private debt with the treatment of externally managed private debt. The stamp duty change will be implemented through an amendment to ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070. ASIC’s 2025 targeted review of superannuation investment disclosure settings examined whether current stamp duty reporting rules under Instrument 2019/1070 and Regulatory Guide 97 influence investment decisions or conflict with the goals of the superannuation system and effective disclosure. On portfolio holdings disclosure, current rules can require trustees to publish the value of individual private debt assets by issuer or counterparty on their websites even where there has been only a single transaction, which may risk confidentiality. The package follows public consultations CS 38 and CS 39, which closed in February 2026. ASIC will also begin a review of Regulatory Guide 97 in 2026.
Australian Securities & Investments Commission 2026-05-01
Australian Securities & Investments Commission changes stamp duty disclosure to a seven year basis and aligns private debt portfolio holdings rules for superannuation trustees
The Australian Securities & Investments Commission has announced two disclosure changes for the superannuation and investment management sectors, adjusting stamp duty reporting in Product Disclosure Statements and aligning portfolio holdings disclosure for internally managed private debt with externally managed private debt. Stamp duty paid in one year will now be disclosed over seven years in fees and costs summaries under an amendment to ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070, and class order relief will address confidentiality concerns from current private debt disclosure rules. The measures follow consultations CS 38 and CS 39, and ASIC will review Regulatory Guide 97 in 2026.