*Superannuation Platforms, Multifunds and Hedge Funds get shorter Product Disclosure Statements (PDS) from ASIC Class Order granting interim relief [77]

ASIC on Mon 18.6.2012, registered ASIC Class Order [CO 12/749] to provide interim relief from the shorter PDS regime for multifunds, superannuation platforms and hedge funds.

The shorter PDS regime will commence fully on 22 June 2012 and is designed to make PDSs shorter and simpler, and help consumers compare financial products more easily. ASIC has advised that the relief means that issuers of these products will remain subject to the disclosure provisions under Chap 7 of the Corporations Act. The Class Order commenced on Mon 18.6.2012. ASIC has issued guidance to assist with implementation of the regime

[LTN 116, 19/6]