iASIC's amended fee and cost disclosure requirements for managed investment schemes and superannuation funds are due to commence tomorrow. However, ASIC has granted an extension until 1 September 2017.
Any responsible entities and superannuation trustees who wish to take advantage of the transition extension for compliance with the new requirements, as described in Regulatory Guide 97 (RG 97), must advise ASIC in writing today.
Notifications must be emailed to feeandcostdisclosure@asic.gov.au and must include your name, details of the relevant PDS and commitments to comply with the conditions of the relief.
Exempted entities must provide ASIC with additional fee and cost information by 1 March 2017. They will then need to update all relevant PDSs to include this information by 1 September 2017. Entities who do not provide the notification today must comply with RG 97 from today.
Click here for further information about the required notifications as provided by ASIC.
Brianna Kenna is co-author of this article.
