ASIC is seeking feedback on a proposal to remake two legislative instruments that provide relief from dollar disclosure and certain Australian financial services (AFS) licensing requirements for a period of five years.
The legislative instruments, which will expire on 1 October 2026 are:
- ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 (ASIC Instrument 2016/767), and
- ASIC Corporations (Financial Product Advice – Exempt Documents) Instrument 2016/356 (ASIC Instrument 2016/356).
ASIC is proposing minor and technical changes to both instruments to improve clarity and consistency.
We are proposing to also extend the dollar disclosure exemptions in ASIC Instrument 2016/767 to certain risk products provided by discretionary mutual funds.
Providing feedback
Please send your submissions to rri.consultation@asic.gov.au by 5pm AEST on 1 June 2026.
Refer to CS 51 Proposed remake of relief from dollar disclosure reporting and AFS licensing requirements for general advice in certain exempt documents.
Background
ASIC Instrument 2016/767 provides exemptions from requirements to disclose in a Product Disclosure Statement, Statement of Advice or periodic statement certain information in Australian dollars, which would otherwise be required by provisions in Parts 7.7 and 7.9 of the Corporations Act 2001. The instrument does not currently provide these exemptions for discretionary risk products issued by discretionary mutual funds.
ASIC Instrument 2016/356 provides licensing relief to entities that give general advice for financial products in certain documents. These include explanatory statements for foreign schemes of arrangements, and offer documents for control transactions, that are regulated in a specified foreign market.