Hi There

We hosted our quarterly PDS Managers Roundtable yesterday with special guest speakers Merren Taylor and Liz Hastilow from Norton Rose Fulbright Australia. We had 30+ people on the line to discuss web disclosure.

If you or any colleagues are interested in joining our next PDS Roundtable, email Katie and she can add you to our list. 

Listening to the speakers and questions, it really struck me that the sheer quantity of text on websites now presents its own set of issues, keeping on top of it is a mammoth job, and ASIC is quite open about its use of tech to scan websites to look for inconsistencies in disclosure.

As well as the legal side of things, we also discussed how to get enough time to think through changes properly, what document-level sign-off software is available for marketing materials, how to keep your marketing materials aligned with PDS content, why it's not advisable to have links in your PDS to materials on your website and more. 

If you're looking to considering making changes with your PDS process, check out the blog below - I wrote it in 2022 but I still stand by it all (which isn't always the case - I've been known to change my mind... sometimes...).

And don't forget, if you want to make a comment or let me know what you like/don't like please just reply to this email -  I really do love it when someone replies!

Cheers

Sarah

Mayflower CEO

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NOT SO FAR AWAY 

A couple of insights pieces have recently been published by Norton Rose Fulbright regarding FAR. The first, FAR intersection points: Privacy laws, data protection and foreign bribery examines the interactions between compliance with FAR and other regulatory requirements. For our friends in insurance, Going for gold: Regulators raise the bar for insurers ahead of FAR and operational resilience reforms explores the impact of the finalised materials.

Difficult communications are a Mayflower speciality. Reach out to us to learn more about how we can deliver high quality record keeping for accountable individuals and entities.

SUPERWARE AI 

Our friends at Superware have built an RG271-compliant IDR app for super funds. They are looking for people with frontline complaints management experience to help them better understand the current issues and challenges, and to provide feedback on the app - you may even get a gift card for participating! Simply email Neil Benson.

NEWS & VIEWS 

AFCA urges super trustees to improve processes - Financial Standard

Trustee boards must have retirement expertise: ASIC - Professional Planner

'Our patience is running thin': ASIC - Financial Standard

Super returns bounce back from August sharemarket jitters: Chant West - Super Review

Super performance test needs personal rate of return: Adviser - Financial Standard

World-class retirement system won’t happen by accident - Professional Planner

Industry bodies join calls to amend $3m super tax bill - Super Review

Use tax on high superannuation balances to boost equity in system: ASFA - The New Daily

Super funds, not advisers, on the hook for retirement: APRA - Professional Planner

Independent MPs demand urgent changes to $3m super tax reforms - Accountants Daily

Legal opinion finds super funds won’t escape advice fee deduction red tape - Investment Magazine

UPCOMING EVENTS 

HOW TO IMPLEMENT CHANGE TO YOUR PDS PROCESS

How long do you think prospectuses have been around for? Surprisingly, it's been 420 years! The first IPO (and therefore prospectus) was issued in 1602 by the Dutch East India Company. It's no wonder that changing how people think about the production and management of offer documents can be quite a challenge.

Here are my top tips for successful change implementation.

Australia’s leading* PDS and communications experts

1 – Are you drowning in PDSs? Are you looking for a lower risk, more efficient process?

2 – Are there any clouds on your business horizon? Do you have the right comms strategy in place?

3 – Do you need expert help to make a change to your business?

Then let's talk! mayflower.com.au

*Just ask us...