ASIC Corporations (Platforms—IDPSs and IDPS-like Schemes) Instrument 2026/395

ASIC made the ASIC Corporations (Platforms—IDPSs and IDPS-like Schemes) Instrument 2026/395 on 3 July 2026, replacing the relief previously given under ASIC Instrument 2023/668 and ASIC Instrument 2023/669. The instrument consolidates ASIC's main relief for investor directed portfolio services and IDPS-like schemes into a single, centralised instrument as part of ASIC's broader program of simplifying complex legislative instruments, following consultation outlined in Report 813 Regulatory Simplification in September 2025.

The remade instrument continues to provide relief from registration, fundraising, financial reporting and disclosure requirements for operators of IDPSs and IDPS-like schemes and for other persons involved in their operation, while setting requirements that apply when operating an IDPS, including obligations relating to Financial Services Guide disclosure and Product Disclosure Statement requirements for certain client directed acquisitions. As part of the simplification, ASIC has removed the previous quarterly reporting requirement and replaced it with a requirement for electronic access to account information, intended to give investors more timely access to their investment details.

ASIC has indicated it will update Regulatory Guide 148 Platforms that are managed investment schemes and nominee and custody services in the coming months to reflect the new instrument. Platform operators, responsible entities and advisers who recommend platforms to clients should be aware that, while the underlying policy settings are largely unchanged, the structure, language and specific reporting obligations in the instrument have been updated.