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Sect 1013D Requirements under the Financial Services Reform Act (FSRA)

Australia Current 2001

Under the act it presents new ethical disclosure requirements . Issuers of financial products are obliged to disclose the extent to which "labor standards or environmental, social or ethical considerations are taken into account in the selection, retention or realization of an investment".

More information

Product issuers are required to make two separate Product Disclosure Statements (PDS): the first on labor standard considerations, the other concerning environmental, social and ethical deliberations. The original Financial Services Reform Act 2001 was promulgated in March 2002, and requires fund managers and financial product providers to state “the extent to which labor standards or environmental, social or ethical considerations are taken into account in the selection, retention or realization of the investment”.

Organizations covered by the instrument

All Companies

Target organization notes

Applies to all Issuers of financial products

Industry scope

Financial Services

Industry scope notes

Issuers of financial products

Disclosure venue

Product Disclosure Statements

ESG coverage- S (Social)

Employment Conditions, Policies and Practices

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour

ESG coverage- Eco (Economic & General)

Economic performance, Market presence, Trade and Investment

Status

Current

Country

Australia

Region

Asia Pacific

Date of publication

2001

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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