COAG agreed on 16 August 2010 to publish COAG Regulation Impact Statements (RISs) on the Best Practice Regulation Updates website from 1 July 2010.

When COAG, Ministerial councils or national standard setting bodies develop regulatory proposals with significant impacts on businesses and individuals COAG’s Best Practice Regulation Requirements must be satisfied, and a RIS must be prepared for both the consultation and decision-making stages.

The OBPR will publish COAG RISs and...

The first RIS to be published on our new web site relates to changes to product disclosure statements. These changes were announced on 23 June. The changes will limit the number of pages in product disclosure statements for superannuation, managed investment schemes, and margin loan products.

These measures have been spurred by various independent reports which indicated that under the current arrangements product disclosure statements lacked clarity and contained irrelevant...