ASIC has reached a milestone with 100 Product Disclosure Statement “in use” notices being lodged since the introduction of the FSRA in March.

The PDS is the point-of-sale document which explains to consumers the exact features of the product – including its benefits, costs and risks – so they  make informed choices about the myriad of available financial products.

The notices lodged so far relate to a wide variety of product types including managed investments, super, general insurance and investment life insurance.