Corporations Service Update: New ASIC Regulatory Guides released

ASIC has released new Regulatory Guides 234 Advertising financial products and advice services: Good practice guidance.

Regulatory Guide 234 
Issued Date: 14 February 2012
Commencement Date:  14 February 2012
Enaling Legislation:Australian Securities and Investments Commission Act 2001 (No. 51), Corporations Act 2001 (No. 50) Provisions too numerous to list here see service.
Amended Legislation: Corporations Act 2001 (No. 50): s914A
Amends
[RG 104] Licensing: Meeting the general obligations
[RG 158] Advertising and publicity for offers of securities
[RG 168] Disclosure: Product Disclosure Statements (and other disclosure obligations)
[RG 170] Prospective financial information
[RG 173] Disclosure for on-sale of securities and other financial products
[RG 200] Advice to super fund members
[RG 38] The hawking prohibitions
[RG 45] Mortgage schemes—improving disclosure for retail investors [RG 46] Unlisted property schemes—improving disclosure for retail investors
[RG 47] Public comment
[RG 53] The use of past performance in promotional material
[RG 98] Licensing: Administrative action against financial services providers
[RG 227] Over-the-counter contracts for difference: Improving disclosure for retail investors
[RG 228] Prospectuses: Effective disclosure for retail investors
[RG 231] Infrastructure entities: Improving disclosure for retail investors
[RG 156] Debenture advertising Read the regulation impact statement
[RG 232] Agribusiness managed investment schemes: Improving disclosure for retail investors 

This guide is for promoters of financial products and financial advice services, and publishers of advertising for these products and services. It contains good practice guidance to help promoters comply with their legal obligations not to make false or misleading statements or engage in misleading or deceptive conduct.   The full Regulatory Guides and much more are already online for subscribers (Note: subscription required).

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