The Australian Securities & Investments Commission has released a catalogue summarising key legal obligations and regulatory guidance to help operators of private credit funds more easily identify and comply with existing requirements. The catalogue is intended as a practical reference point for both retail and wholesale private credit funds in Australia and is also relevant to the broader funds management sector. This work was flagged in ASIC’s capital markets roadmap and is positioned as a complement to principles issued as a benchmark for firms to urgently assess and lift their current practices where necessary. ASIC noted that the catalogue is not exhaustive and is not a substitute for legal advice, and reiterated its earlier call for the industry to lift standards following expert observations and ASIC surveillance findings of poorer practices. ASIC also intends to refresh regulatory guidance in 2026–2027 to take account of private credit surveillance findings, reflect current risks and provide clearer guidance for wholesale funds.
Australian Securities & Investments Commission 2025-12-09
Australian Securities & Investments Commission publishes catalogue of legal obligations for private credit fund operators
The Australian Securities & Investments Commission (ASIC) has published a catalogue summarizing key legal obligations and regulatory guidance for private credit fund operators in Australia, serving as a practical reference for both retail and wholesale funds. This initiative complements ASIC's capital markets roadmap and urges firms to improve practices based on expert observations and surveillance findings. ASIC plans to update regulatory guidance in 2026–2027 to incorporate private credit surveillance findings and address current risks.