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ARTICLE · 29 SEPTEMBER 2010

Are You Solving The "Short and Simple" PDS Issues? Not a "Tick-a-Box" Project!

Norton Rose Fulbright Australia
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The new "short and simple" PDS regime for superannuation products commences on 22 June 2011. This is the first general overhaul of these requirements since 2002, when FSR commenced. Unfortunately for trustees, implementing the new regime will not be so simple. Nor can it be done in a short time. Trustees need to start acting now.

AustraliaFinance and Banking
Stanley Drummond
Stanley Drummond
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The new "short and simple" PDS regime for superannuation products commences on 22 June 2011. This is the first general overhaul of these requirements since 2002, when FSR commenced. Unfortunately for trustees, implementing the new regime will not be so simple. Nor can it be done in a short time. Trustees need to start acting now.

The requirements for Product Disclosure Statements (PDSs) for superannuation products (other than products that are solely an interest in a defined benefits fund or solely a pension product) have changed. These changes are intended to make PDSs for superannuation products "substantially shorter and simpler" than current PDSs.1

Not so short and simple

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