Updating Regulatory Guidance (RG) 45 for mortgage schemes is a part of a series of regulatory guide updates or issues undertaken by the Australian Securities and Investments Commission (ASIC). This Regulation Impact Statement (RIS) assesses the regulatory impacts of updating RG 45 to include revised benchmarks and disclosure principles and the provision of guidance on how disclosure should be made under those benchmarks and principles. ASIC will update existing product disclosure benchmarks and principles to more appropriately reflect the risks associated with investing in mortgage schemes with a view to facilitate better informed retail investors. The Australian Securities and Investments Commission prepared a RIS on updating RG 45 for mortgage schemes in March 2012 and was assessed as adequate by the Office of Best Practice Regulation (OBPR).