Disclosing fees and costs in PDSs and periodic statements (RG 97)

Overview of Disclosing fees and costs in PDSs and periodic statements (RG 97)

Disclosure is a legislated and important aspect of the Australian financial services regulatory regime.

Disclosing fees and costs in PDSs and periodic statements (RG 97) is a Regulatory Guide published by the Australian Securities and Investments Commission (ASIC) and is relevant to:

  • Issuers of certain superannuation products
  • Issuers of managed investment products and operators of notified foreign passport funds, and
  • Platform operators that operate superannuation platforms, investor directed portfolio services (IDPSs) and IDPS-like schemes.

With RG 97 put under the spotlight and having undergone a major update, affected institutions must ensure they continuously review and revise their PDSs and periodic statements to comply with ASIC’s regulatory guidance.

About our course

Whether you’re in a product management, document preparation, investment administration, communications, frontline customer-facing or ancillary role, our overview of RG 97 prepares you and your organisation for many operational and client engagement scenarios.

Program Content

Learning Outcomes

  • Outline the regulatory requirements that RG 97 applies to and what financial services entities need to comply with it
  • Discuss the underlying issues that prompted ASIC to undertake a major update to RG 97
  • Explain fees and costs disclosure requirements for PDSs and identify how they are represented in a compliant PDS
  • Explain fees and costs disclosure requirements for periodic statements and identify how they are represented in a compliant periodic statement
  • Describe the enforcement powers available to ASIC and how it might exercise them with respect to RG 97 compliance.

What you will learn

Who is this course for?

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

You will be awarded a Certificate of Completion. It will be available online for you to download and print immediately.

ASIC-supervised licensees: Managed Investments OR Superannuation
FAS-Supervised advisers: Regulatory compliance and consumer protection

Explore our Financial Services CPD

Our short course topics are also included in our annual subscription Financial Services CPD library.

Download Brochure

Frequently Asked Questions

Our CPD short courses are self-paced with online learning resources & on-going support.
  • You have up to 8 weeks to complete the learning and assessment requirements for your CPD short course.
  • Experienced professionals can complete in less time.

Our CPD short courses are assessed by a short open book multiple-choice exam.

To get started, either
  • Purchase your course online. (If checking out for your team, you can add multiple courses to the cart.) OR
  • Contact Us to arrange an invoice
Please note: Online orders may take up to 1 business day to be processed and for you to receive your course login details.  

To get started, either:
  • Purchase course/s online. (You can add multiple courses to the cart.) OR
  • Contact us to arrange a invoice.
Please note: Online orders may take up to 1 business day to be processed and for your team to receive their course login details.
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act). Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.