ASIC has updated Regulatory Guide 107 Fundraising: Facilitating electronic offers of securities (RG 107) to cover the use of the internet and other interactive media for making offers of securities.
ASIC recognises that there are many advantages to using the internet, email and other electronic means to distribute disclosure documents and application forms, which can make information easier to access, read and understand for investors.
The updated guidance includes:
- an explanation of ASIC’s view on the way the internet and other electronic means can be used in making offers of securities
- a ‘good practice guide’ to assist offerors, distributors, publishers and other parties involved in distributing offers, and
- continuation of relief for the use of personalised or Australian financial services (AFS) licensee created application forms: new class order [CO 14/26].
