ASIC’s Consultation on Proposals to Facilitate Digital Disclosure
Submission Date: 13 August 2025
This submission is made by the Financial Services Committee of the Business Law Section of the Law Council of Australia (the Committee) in response to Consultation Statement 23: Proposals to Continue to Facilitate Digital Disclosure (CS 23), which was issued by the Australian Securities and Investments Commission (ASIC) on 9 July 2025.
Background
In CS 23, ASIC has released an updated draft of Regulatory Guide 221 Facilitating digital financial services disclosures (RG 221).
ASIC indicates that the proposed changes to RG 221 involve simplifying the drafting of the guidance, updating references to regulatory provisions, and updating the examples of digital disclosure to better reflect that ASIC does not mandate a particular method of digital disclosure.
ASIC has also proposed amendments to its good practice guidance for digital disclosure in Section D of RG 221, including through express references to certain relevant legislative obligations.
ASIC indicates in CS 23 that it proposes to remake the following legislative instruments (Instruments) for a period of five years:
- ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647; and
- ASIC Corporations (Removing Barriers to Electronic Disclosure) 2015/64.
ASIC has not provided draft versions of the proposed new legislative instruments.
Last Updated on 11/11/2025
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