On 29 November 2019, ASIC finalised the revised fees and costs disclosure requirements for PDSs and periodic statements, including an updated Regulatory Guide 97.
The new rules will apply to all:
PDSs issued on or after 30 September 2020, and periodic statements (ongoing or on exit) for a reporting period that commences on or after 1 July 2021 (subject to potential early 'opt-in'). Issuers will therefore need to take stock of their current position and have a clear plan in place in the New Year for transitioning to the new requirements. While 'opt-in' applies for certain periodic statements, there is no ability to 'opt-in' early to the new requirements for PDSs.
The new rules and guidance follow...