How accurate fee validation supports transparency in Australia and beyond

The largest allocators in the world will face expanded disclosure requirements as regulations evolve, shifting toward fee transparency and validation.

There is a global shift among institutional investors and regulators toward greater fee transparency. That shift is being formalized in markets such as Australia, where recent regulatory changes seek to reduce distortions in fee disclosure arising from large, irregular costs. The changes echo broader regulatory scrutiny on misleading or opaque fee disclosure in other major markets globally.

Specifically, the Australian Securities and Investments Commission (ASIC) announced amendments to Regulatory Guide 97 (RG 97) on 1 May 2026. This Standard governs how superannuation funds and managed investment schemes disclose fees and costs to consumers.

As private market allocations continue to grow worldwide, regulations are evolving to ensure greater transparency. The challenges RG 97 seeks to address, such as opaque cost structures, are increasingly shared across pension systems globally.