Consultation: Proposed guidance for ethical investing disclosure

We are seeking feedback on proposed guidance for issuers of financial products that incorporate ethical characteristics. The guidance is intended to explain how the disclosure obligations and the fair dealing provisions in the Financial Markets Conduct Act 2013 apply when describing the ethical characteristics of financial products.  

The guidance will help issuers prevent greenwashing in their disclosure, and improve the confidence of those participating in the ethical finance markets. It provides examples of practices we consider fall short of statutory obligations for fair dealing and product disclosure, as well as examples of good practice. It also outlines obligations for financial advisers who may provide advice on ethical financial products.

This guidance will update and replace guidance previously issued in the 2020 Disclosure Framework for Integrated Financial Products and guidance in the 2022 thematic review of managed fund documentation.  

We are keen to hear responses to the questions in the consultation paper, as well as any other feedback you have. Please submit your feedback by 7 November 2025, using the submission form provided above. 

Read the consultation paper [PDF 224KB]

Read the proposed guidance [PDF 2.3MB]