ASIC has been prolific in the last 2 weeks in issuing all sorts of things to allow staff to get away for Christmas including :

• Unit pricing: APRA and ASIC have released a consultation paper seeking industry comment on
  proposed guidance for good practice in unit pricing.

  The release of this consultation paper follows a
  joint review of unit pricing practice in life companies, superannuation
  providers and fund managers conducted by the regulators from July to
  December 2004.

  Both ASIC and APRA have raised concerns about unit
  pricing practices in these entities in recent years. There have been
  several instances of unit pricing errors involving compensation of more
  than $10 million and affecting many thousands of investors.

• Secondary service provider FSR relief
• Non-cash payment facilities policy proposal paper
• PDS Guidance: ASIC has  provided guidance for product issuers preparing and
  reviewing Product Disclosure Statements (PDSs). The guidance highlights
  a number of compliance issues product issuers should take into account
  to ensure that their PDSs meet both the content and presentation
  requirements of the law.

  The guidance follows an ASIC review of over 100 PDSs
  prepared before 11 March 2004. ASIC also announced that it plans to
  conduct nation-wide campaigns into PDSs issued by the financial
  services industry, and the findings from its recent review will be used
  to focus on specific disclosure issues for particular product classes.

• Charities fund raising: ASIC has released an updated version of Policy Statement 87: Charitable investment schemes and school enrolment deposits [PS 87] to reflect recent legislative changes and to provide additional clarification and guidance. 

  The policy statement sets out the relief from the fundraising, managed investment, debenture and licensing provisions of the Corporations Act 2001 (the Act) that ASIC may give to charities for the offer and operation of certain investment schemes.