ASIC Extends Digital Disclosure Relief To 2030 With New Legislative Instrument
The Australian Securities and Investments Commission (ASIC) has issued a new legislative instrument to continue relief for digital disclosures, consolidating prior rules from 2015. The new instrument replaces ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647 and ASIC Corporations (Removing Barriers to Electronic Disclosure) Instrument 2015/649, both of which were due to expire on 1 October 2025. The fresh measure will now remain effective until 1 October 2030.
ASIC determined that the earlier relief was functioning effectively and should be preserved to support modern disclosure practices. Minor updates have been made, including an extension of the relief under Instrument 2015/649 to cover the Cash Settlement Fact Sheet, ensuring consistency with other disclosure requirements across financial services.
This step underscores ASIC’s continued efforts to align financial disclosure practices with technological developments, while maintaining and investors alike.
Takeaway
Consultation And Industry Feedback
on 9 July 2025 regarding the future of electronic disclosure instruments and updates to Regulatory Guide 221 Facilitating digital financial services disclosures (RG 221). Seven submissions were received, with broad support for ASIC’s proposals. Some stakeholders pushed for the relief to be embedded in primary law and expanded to cover obligations under other Acts, a recommendation ASIC has passed to Treasury for consideration.
To address feedback, ASIC incorporated further guidance into the explanatory statement and committed to updating RG 221. The regulator also consolidated the relief into a single instrument and provided simplified outlines to improve clarity for market participants.
The updated RG 221, along with stakeholder submissions, will be published in the coming months. This rollout will align with updates to Regulatory Guide 168 Disclosure: Product Disclosure Statements (and other disclosure obligations).
Takeaway
Background And Legislative Context
Under the Legislation Act 2003, legislative instruments automatically sunset later than ten years unless renewed. The original 2015 instruments were introduced to assist financial service providers move disclosures online, allowing providers to notify clients digitally and easing requirements such as page length and document titles.
how Parts 7.7 and 7.9 of the Corporations Act 2001, alongside relevant regulations and instruments, apply to digital financial disclosures. By extending the relief to 2030, ASIC ensures continued support for digital-first practices, while also adapting the framework to reflect evolving market and compliance needs.
The extension represents a balance between maintaining consumer protections and embracing innovation in the delivery of financial disclosures, reinforcing Australia’s move toward a more modern regulatory framework.
Takeaway
