What is being proposed
ASIC is consulting on a proposal to reduce Regulatory Guide 264 - its guidance on sell-side research - from 42 pages to 8 pages. The proposal replaces detailed rules with broader principles.
What is sell-side research
Sell-side research is produced by investment banks and stockbrokers holding an Australian Financial Services (AFS) licence. It is used to help clients make decisions about transactions such as upcoming initial public offerings (IPOs).
What the simplified guide covers
The draft simplified guide addresses three areas:
- Managing conflicts of interest
- Handling inside information properly
- Keeping research independent
The draft guide also allows more input from research analysts during the IPO process.
Current status
This is a consultation only. Nothing in Regulatory Guide 264 has changed yet.
Key actions
The consultation relates to AFS licence holders that produce sell-side research, including investment banks and stockbrokers.
- Review the draft updated Regulatory Guide 264 and the summary of proposed changes at the ASIC consultation page for CS 59: asic.gov.au
- Submit feedback on the proposed changes to markets.consultation@asic.gov.au by 5pm AEST on 21 August 2026. Submissions can address whether the guidance is clear, whether it reflects industry practice, and any areas needing further clarification.
- Visit the CS 59 consultation webpage on the ASIC website for the full draft guide, the summary of changes, and submission instructions.
Submission deadline
Submissions are due by 5pm AEST on 21 August 2026.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.