ASIC has also put out an information release addressing some risks of non-compliance that issuers of a Product Disclosure Statement (PDS) may face when issuing a financial product to an applicant who did not apply using the most up-to-date PDS available. The release outlines what the law requires, how these risks may arise and illustrates some procedures issuers can follow in order to reduce these risks. This release can also be found at ASIC’s website.