Updates include financial services code approvals and advertising standards
The Australian Securities and Investments Commission (ASIC) plans to update several key regulatory guides in 2025 as part of its ongoing efforts to streamline regulations and ensure guidance remains effective and relevant.
The updates will address evolving legal frameworks, insights from case law, and industry feedback.
ASIC’s objective is to make its guidance simple, practical, and aligned with current market conditions, reinforcing its commitment to improving regulatory efficiency and reducing complexity, as highlighted at the 2023 ASIC Annual Forum.
The regulatory guides set for review include guidance on the use of past performance in promotional material, disclosure requirements such as product disclosure statements, licensing and managing conflicts of interest, approval of financial services codes of conduct, and advertising standards for financial products and services, including credit.
The regulator will consult with stakeholders during the process, inviting feedback to help refine the guidance. This collaborative approach, ASIC said, aims to ensure the updates address industry concerns and support compliance.
Details on the timing of the revisions will be available in ASIC’s regulatory developments timetable. Stakeholders and industry participants are encouraged to contribute their insights, which ASIC has emphasised are critical to maintaining practical and effective guidance.
Recently, ASIC has issued new regulatory guidance and has also updated some existing regulatory guidance in response to reforms under the Treasury Laws Amendments (Delivering Better Financial Outcomes and Other Measures) Act 2024.
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