ASIC steps up private credit enforcement with office visits, document searches
The corporate regulator has ramped up its scrutiny of some firms in the booming sector following an initial wave of surveillance last year.
The Australian Securities and Investments Commission (ASIC) has ramped up its scrutiny of the private credit sector, with its enforcement team inspecting offices and searching for documents following last year’s initial wave of surveillance.
Multiple market participants told Capital Brief that the regulator has intensified its scrutiny of the sector in recent weeks, following an initial round of surveillance that looked at 28 wholesale and retail funds last year.
In the latest move from the regulator, ASIC officials have been rifling through documents and accessing boxes of information at some firms, the sources said, while also demanding further information about investors in private credit products, fee structures and potential conflicts of interest.
A source, who declined to be named as they were not authorised to speak publicly on the issue, said ASIC is currently conducting further surveillance on some of the funds it scrutinised last year.
