ASIC denies agitating for private markets policy | Australian Markets

The Australian Securities and Investments Commission (ASIC) has denied solutions that its current foray into capital markets is aimed toward making use of stress for Government policy change.

Reacting to query on discover from Senate Estimates prompted by its dialogue paper on capital markets and private credit, ASIC denied that it was searching for to attract conclusions in regards to the need for change to the regulatory framework.

ASIC’s response to the questions posed by Senate Economics Reference Committee chair, NSW Liberal Senator, Andrew Bragg, have come amid close scrutiny of private credit prompted by the release of the ASIC dialogue paper.

The dialogue paper additionally preceded a reported resolution by publicly-listed financial advice group, Count Limited, to not embrace some Metrics Partners funds from its authorized product lists (APLs).

Research and scores home, SQM Research additionally cited ASIC’s dialogue paper when deciding to put private debt fund choices on “watch”.

Specifically requested by Senator Bragg whether or not ASIC was “agitating for any policy change”, ASIC chair Joe Longo instructed the Estimates Committee listening to that there have been a quantity of causes together with a lack of transparency and the need for more information.

ASIC’s formal response to the Bragg’s questions acknowledged that its dialogue paper posed “questions designed to deepen and sharpen ASIC’s understanding of how Australia’s capital markets operate, and the answers will inform ASIC’s priorities and work program in the future”

“The discussion paper does identify the need for robust data to identify and respond to risks arising in private markets as mentioned by Chairman Longo,” it mentioned/

“Apart from this, the paper does not draw conclusions about whether any changes to the regulatory framework are needed and is not advocating for policy change.”