Australian Securities & Investments Commission consults on remaking disclosure and licensing relief for five years and extending exemptions to discretionary mutual fund risk products

The Australian Securities & Investments Commission has opened a consultation on remaking for a further five years two legislative instruments that provide relief from certain Australian dollar disclosure requirements and certain Australian financial services licensing requirements. The proposal includes minor and technical changes to improve clarity and consistency and would also extend the dollar disclosure exemptions to certain risk products provided by discretionary mutual funds. Both instruments expire on 1 October 2026. ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 exempts certain information in a Product Disclosure Statement, Statement of Advice or periodic statement from otherwise applicable Australian dollar disclosure requirements under Parts 7.7 and 7.9 of the Corporations Act 2001, and the proposed remake would add discretionary risk products issued by discretionary mutual funds to that relief. ASIC Corporations (Financial Product Advice - Exempt Documents) Instrument 2016/356 gives licensing relief to entities that provide general advice on financial products in certain documents, including explanatory statements for foreign schemes of arrangements and offer documents for control transactions regulated in a specified foreign market. Submissions are due by 5pm AEST on 1 June 2026.