RG97 Industry Guidance
RG97 Industry Guidance, produced by an Industry Working Group (IWG), has been prepared in response to ASIC’s RG 97 that commenced on 30 September.
This Guidance is supported by the Australian Institute of Superannuation Trustees (AIST), the Association of Superannuation Funds of Australia (ASFA), and the Financial Services Council (FSC).
The industry Guidance helps funds to appropriately disclose fees and costs in product disclosure statements and periodic statements.
The IWG has also developed fee and cost mapping tables, which provide assistance to funds in understanding what are ‘fees and costs’, as well as where such fees and costs are to be disclosed. We note that the fee and cost mapping tables – as well as other items – will be subject to the review recently announced by ASIC.
View the Industry Guidance here.
View the fee and cost mapping table here.
View the private equity fee and cost mapping table here.
View the Consolidated Schedule 10 of the Corporations Act, with Explanatory Statements here.