Regulatory updates

ASIC is consulting on expanded relief from Corporations Act restrictions on advertising unquoted securities before prospectus lodgement. Prospective issuers could communicate more broadly if advertisements identify the issuer and seller, explain where and when the prospectus will be available, ensure the prospectus is available by listing, and direct investors to it as the primary source for investment decisions. Submissions close on 11 September 2026.

ASIC has applied to the Federal Court for orders restraining Royce Capital Investments, Royce (Aust) Real Estate, Louie Kortesis and Paul Chiodo from promoting or accepting Australian investment in three offshore funds, or financial products generally. ASIC alleges that Royce Capital raised $1.536 million from five Australian SMSF investors without holding an Australian financial services licence and that promotional brochures included misleading representations about guaranteed or fixed annual returns of 13 per cent.

APRA is consulting on amendments to superannuation reporting standards SRS 533.0, SRS 610.2 and associated definitions in SRS 101.0 as the collections move to APRA Connect. The proposals remove duplicated or unnecessary data, retain selected information used for publications and the MySuper performance test, and revoke SRS 001.0. Submissions close on 21 August 2026.