The corporate regulator says it is not trying to expand its reach into private assets as part of a major review of the industry as brokers and investors warn the public markets have suffered because listed companies have to follow rules that are too onerous.
The Australian Securities and Investments Commission called for industry feedback in February amid concerns that more capital was moving out of the intensely regulated public markets into opaque private markets while the growth of superannuation savings to over $4 trillion was reshaping financial markets.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
Joyce Moullakis writes on banking and finance, specialising in investment banking, private equity, and financial services. Connect with Joyce on Twitter. Email Joyce at joyce.moullakis@nine.com.au
