Corrs Corporate Advisory Newsletter: CLERP 9 – Clear and Concise Wording for Prospectuses

08 April 2005

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Among the many changes introduced by CLERP 9 is the requirement that disclosure documents (such as a prospectus) be ‘clear, concise and effective’. The intention is that consumers be able to compare and make informed choices about investment and financial products. However, although the requirement mirrors that for Product Disclosure Statements, ASIC has said it does not intend to give further guidance on its meaning. Instead, reference should be made to ASIC’s six "Good Disclosure Principles" in Policy Statement 168 (PS 168).

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