Simplified PDS's for superannuation and managed investment product disclosure

Treasury has released for public comment draft regulations and an example Product Disclosure Statement (PDS) for superannuation and managed investment product disclosure prepared by the Financial Services Working Group (the Working Group).

Under the proposed regimes, Product Disclosure Statements (PDSs) will be limited to six A4 pages of key information presented in a clear and uncomplicated manner. These documents will be supported by more detailed or frequently updated information provided online so that businesses can enjoy greater flexibility without compromising investor protection.

The Working Group requests comments on the draft regulations and example PDSs by 26 February 2010.