ASIC has released Consultation Paper 155 [CP 155] Prospectus disclosure: Improving disclosure for retail investors, and an accompanying draft regulatory guide.

The purpose of the regulatory guide is to give issuers guidance on how to word and present prospectuses and other documents in a ‘clear, concise and effective’ manner as required by s715A CA and how to prepare prospectuses that satisfy the content requirement in s710 CA.

Comments may be made until 7 June 2011 and the final guide is due to be issued in December 2011.