ASIC has released final regulatory guides aimed at improving disclosure to retail investors by unlisted mortgage schemes and unlisted property schemes:

• Regulatory Guide 45, Mortgage schemes-improving disclosure for retails investors
• Regulatory Guide 46, Unlisted property schemes-improving disclosure for retails investors
• Report 139, Report on submissions for CP 100 Unlisted property schemes—improving disclosure for retail investors
• Report 138, Report on submissions for CP 99 Mortgage schemes—improving disclosure for retail investors

In response to the submissions it received on the draft guides, ASIC has:

• modified certain aspects of the benchmarks and disclosure principles and advertising guidance in the regulatory guides;
• clarified the method of communication of the information to retail investors; and
• modified the implementation timetables.

ASIC will also release companion investor guides for both sectors to assist investors in understanding the enhanced disclosure and make better informed investment decisions later this month.