Corporations Service Update: New ASIC Regulatory Guide released

ASIC has released a new Regulatory Guide 232 Agribusiness managed investment schemes: Improving disclosure for retail investors details are:

Regulatory Guide 232 - Agribusiness managed investment schemes: Improving disclosure for retail investors is a guide for responsible entities and others involved with the issue or advertising of interests in agribusiness managed investment schemes (agribusiness schemes).

 

The Guide sets out ASIC’s benchmarks and disclosure principles for improved disclosure to retail investors to help them understand and assess agribusiness schemes, while maintaining the flexibility of the public fundraising process.   Some features of agribusiness schemes can create risks for retail investors, and require an improved approach to disclosure. In this Guide ASIC sets out five benchmarks and five disclosure principles for agribusiness schemes that can help retail investors understand the risks, assess the rewards being offered, and decide whether investment in these products is suitable for them.   The Guide also set standards for advertising agribusiness schemes to retail investors.

Issued Date: 30 January 2012
Commencement Date: 30 January 2012
Amends     
[RG 111] Content of expert reports
[RG 112] Independence of experts
[RG 133] Managed investments: Scheme property arrangements
[RG 168] Disclosure: Product Disclosure Statements (and other disclosure obligations)
[RG 170] Prospective financial information
[RG 198] Unlisted disclosing entities: Continuous disclosing entities: Continuous disclosure obligations
[RG 45] Mortgage schemes—improving disclosure for retail investors Read the regulation impact statement
[RG 46] Unlisted property schemes—improving disclosure for retail investors Read the regulation impact statement
[RG 69] Debentures - improving disclosure for retail investors Read the regulation impact statement
[RG 76] Related party transactions
[RG 91] Horse racing and breeding schemes
[RG 227] Over-the-counter contracts for difference: Improving disclosure for retail investors
[RG 166] Licensing: Financial requirements
[RG 228] Prospectuses: Effective disclosure for retail investors

The full Regulatory Guide and much more are already online for subscribers (Note: subscription required).

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