The Australian Securities and Investments Commission (ASIC) has issued a new legislative instrument permitting entities to provide disclosures digitally, replacing older frameworks under the Corporations Act. This reform is aimed at simplifying compliance, reducing costs, and ensuring investor access to timely information. It clarifies how financial service providers can meet their obligations while shifting to electronic communication.
This move sets a global benchmark by codifying digital-first disclosure as the legal default. India has sectoral measures-through SEBI’s e-filing mandates, MCA21 digital corporate compliance, and RBI’s online disclosure rules-but lacks a unified instrument that permanently establishes digital delivery as the standard across the financial system. Aligning disclosure law to a consolidated digital-first framework could make India’s compliance ecosystem more transparent and investor-friendly.
Relevant question for policy stakeholders: Should India adopt a single legislative instrument to establish digital-first disclosures as the default, consolidating existing fragmented rules under SEBI, MCA, and RBI?
Follow the full news here:
https://www.asic.gov.au/about-asic/news-centre/news-items/asic-issues-new-legislative-instrument-to-facilitate-digital-disclosures/
