On 3 December 2025, the Australian Securities and Investments Commission (ASIC) updated Regulatory Guide 168 Product Disclosure Statements: Disclosure and other obligations (RG 168) following consultation with industry.

Background

RG 168 provides guidance on preparing  product disclosure statements (PDS) that comply with the requirements in the Corporations Act 2001 (Cth) (Corporations Act).  RG 168 sets out good disclosure principles, explains how ASIC will monitor the use of PDSs and enforce the requirements.

Updates

In updating RG 168, ASIC:

• incorporated further guidance from regulatory guides, which are to be withdrawn, and made references to ASIC relief instruments that stakeholders indicated were useful;

• updated guidance on compliance risks and considerations for PDSs in Section D to clarify what happens if the PDS requirements are not met.

• updated Appendix 1 with ASIC’s guidelines (ASIC’s s1013DA disclosure guidelines) where a PDS claims that labour standards or environmental, social, or ethical considerations are considered in investment decisions to refer to further relevant ASIC guidance.

This update follows an earlier consultation with industry.  ASIC received eight non-confidential submissions to its consultation and has summarised the key feedback and responses here.