ASIC update on maintenance of regulatory guides

ASIC is updating a number of their regulatory guides (RGs) to ensure they remain effective and appropriate. ASIC plan on consulting stakeholders in 2025 to update some key RGs factoring account law reform, insights from case law about the provisions and other relevant issues.

The RGs on ASIC’s radar for 2025 include:

• Regulatory Guide 53 The use of past performance in promotional material
• Regulatory Guide 168 Disclosure: Product Disclosure Statements (and other disclosure obligations)
• Regulatory Guide 181 Licensing: Managing conflicts of interest
• Regulatory Guide 183 Approval of financial services codes of conduct, and
• Regulatory Guide 234 Advertising financial products and services (including credit): Good practice guidance. Read more here.

Policies affected: Multiple

Organisations affected: ?AFSL holders

Whilst there are no immediate updates to conduct, it will require uplift in the new year. Relevant organisations should keep a close eye on the regulators for further communication.