ASIC finalises new disclosure requirements for unlisted property schemes

Focus: Regulatory Guide 46 Unlisted property schemes – Improving disclosure for retail investors (RG 46).
Services: Commercial, Financial Services
Industry Focus: Financial Services, Property

In brief

ASIC has finalised its revised Regulatory Guide 46 Unlisted property schemes – Improving disclosure for retail investors (RG 46). This follows a consultation process that began in July last year with the issue of Consultation Paper 163, on which we commented in this article.

ASIC has introduced six new "if not, why not" disclosure benchmarks, revised the existing disclosure principles and added a new NTA disclosure principle. PDSs will need to contain an investment overview within the first few pages that includes disclosure of the benchmark and disclosure principle information.