ASIC says opaque private credit funds will face more scrutiny
The market regulator is making transparency in private credit a key priority, putting together a dedicated team for the first time to investigate conflicts of interest and determine how firms value the assets they have lent against.
Australian Securities and Investments Commission chairman Joe Longo said he was concerned investors in private credit funds might not be adequately protected. The regulator has set up a taskforce to investigate the needs for regulations in the sector, and how it could work alongside public capital markets.
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