ASIC releases capital markets roadmap, following private credit surveillance

ASIC has just released its roadmap on public and private markets, Advancing Australia’s evolving capital markets: Discussion paper response, which draws on its recent surveillance into Australia’s private credit sector.

This report builds on ASIC’s private credit insights, which were released in September 2025, and includes industry and expert insights, including some international approaches to private credit reporting.

In a media release today, ASIC said: “In private markets, the report outlines that ASIC needs better tools from government for effective supervision of funds, including notification of wholesale funds in operation, data collection, and independent audited financial reports for wholesale funds.

“The report also underscores the role private credit is playing in Australia’s financial system and sets out clear principles, grounded in the law, for private markets to lift practices to promote confident and informed participation by investors and borrowers.

“In addition, for private credit, ASIC will:

• issue a catalogue that summarises fund managers’ legal obligations and related ASIC regulatory guidance

• refresh funds management regulatory guidance on a targeted basis

• engage with industry bodies as they work to enhance industry standards.”

The PFA expects to be included by ASIC in its industry consultation.

The Issues & Regulatory Committee (IRC) will review ASIC’s capital markets roadmap, and will report on the key issues in due course. 

If you have any questions for the IRC, please email pfa@propertyfunds.org.au