Updated Disclosure Rules for Hedge Funds in Australia
Fadi Khoury, Partner
Norton Rose Australia
The Australian Securities and Investments Commission (ASIC) has released Consultation Paper 174 Hedge funds: Improving disclosure – Further consultation (CP 174), which seeks further feedback in respect of ASIC’s earlier Consultation Paper 147 (CP 147) released in February 2011. CP 147 prescribed various key features and risks that should be addressed in the Product Disclosure Statement (PDS), and other communications, for a hedge fund.