Documents shorter but still dense
New product disclosure statements that were meant to be easier to understand still contain a large number of specialist financial terms, researchers say.
Research by associate professor Aaron Gilbert and Ayesha Scott at AUT Business School Department of Finance has shown, on average, KiwiSaver PDS documents delivered under the new Financial Markets Conduct Act framework are significantly shorter and contain simpler language when compared with the prospectuses and investment statements they replaced.
But even the simplified product disclosure statements require a high level of literacy...MORE»
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