ASIC defers portfolio holdings disclosure date

The Australian Securities and Investments Commission (ASIC) has confirmed that the start date for portfolio holdings disclosure reporting and choice product dashboard requirements have been deferred until 30 June, next year.

The regulator made the announcement as part of an update on aspects of the Stronger Super regime which it said was aimed at providing the superannuation industry with certainty around the start dates for key superannuation reforms.

It said the deferral of the start date would allow time for the Superannuation Legislation Amendment (Transparency Measures) Bill 2016 to pass and the Federal Government further time to consult on the detail of the requirements.

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The ASIC announcement noted that the requirements were originally due to start on 1 July 2016.

ASIC said that, additionally, it had extended previous relief that allowed registrable superannuation entities (RSE) licensees to provide a product dashboard with a periodic statement by including a website address for the latest product dashboard, rather than requiring a hard copy of the dashboard to be included with the periodic statement.

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