meta_id 3124096

On [announcement date], the Australian Securities and Investments Commission (ASIC) launched a consultation on remaking two legislative instruments that provide relief from dollar disclosure and certain Australian Financial Services (AFS) licensing requirements. The instruments set to expire on 1 October 2026 are ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 and ASIC Corporations (Financial Product Advice – Exempt Documents) Instrument 2016/356. ASIC Instrument 2016/767 exempts entities from requirements to disclose certain information in Australian dollars within Product Disclosure Statements, Statements of Advice, or periodic statements under Parts 7.7 and 7.9 of the Corporations Act 2001. ASIC Instrument 2016/356 provides licensing relief to entities giving general advice for financial products in specified documents, including explanatory statements for foreign schemes of arrangement and offer documents for control transactions regulated in specified foreign markets. The proposed remake includes minor and technical changes to both instruments to enhance clarity and consistency. Notably, ASIC proposes to extend dollar disclosure exemptions in ASIC Instrument 2016/767 to certain risk products provided by discretionary mutual funds, which are not currently covered. Submissions on the proposal must be sent to rri.consultation@asic.gov.au by 5pm Australian Eastern Standard Time on 1 June 2026. Further details are available in ASIC consultation paper CS 51 Proposed Remake of Relief from Dollar Disclosure Reporting and AFS Licensing Requirements for General Advice in Certain Exempt Documents.