Overview
- ASIC released a roadmap with three reports and warned non‑bank lenders and super funds to lift standards or face tougher action.
- Surveillance of 28 private credit funds found inconsistent reporting, opaque fees, weak governance, poor valuations and patchy default disclosures.
- The regulator said it will continue targeted surveillance and is prepared to pursue stronger regulatory powers or law reform, including data collection and independent audits of wholesale funds.
- Chair Joe Longo cautioned that unchecked risks could trigger a market collapse, underscoring concerns as private credit has grown more than 500% to exceed $200 billion.
- The roadmap also tackles public‑market health, citing an 82% slide in IPO fundraising over a decade, closer scrutiny of ASX reliability and oversight of Cboe Australia’s sale process.