Use and usefulnss of PDSs in the financial planning context

Gallery, Gerry , Gallery, Natalie, & Irving, Kym (2013) Use and usefulnss of PDSs in the financial planning context. JASSA The Finsia Journal of Applied Finance, 2013(1), pp. 7-12.

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Abstract

Following considerable criticism of the complexity and lack of readability of product disclosure statements (PDSs), regulatory changes were introduced requiring shorter PDSs for certain investment products. This paper reports the findings of an online survey of financial planners regarding use of managed investment scheme (MIS) PDSs with clients, the perceived usefulness of PDSs as an information source, and their views on shorter PDSs. Our findings highlight major concerns about the usefulness of the PDS and disclosure reforms.

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ID Code: 66295
Item Type: Journal Article
Refereed: Yes
Keywords: product disclosure statements, financial advice, regulation, consumer protection
ISSN: 0313-5934
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BANKING FINANCE AND INVESTMENT (150200)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Funding:
Copyright Owner: Copyright 2013 FINSIA
Deposited On: 19 Jan 2014 22:06
Last Modified: 23 Apr 2014 05:52

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