ASIC to demand greater disclosure of private credit deals
Chair Joe Longo says private market operators will be forced to divulge more information about valuations and fees for private market deals by the end of the year.
Australian Securities and Investments Commission (ASIC) chair Joe Longo has told private market operators to expect to be forced to disclose more data about their deals by the end of the year.
Speaking to Capital Brief following the release of more than 50 submissions into its review of public and private markets, Longo said the private credit sector was only going to get hotter and that it was in the public interest for more transparency.
“The direction of travel at the moment is that there probably will need to be some standard setting or best practice acceptance by various players in these markets in order to encourage fair and efficient markets,” he said.
“You know clear transparency, valuations, conflicts of interest, disclosure of fees, matters of that nature. So we're hoping to land something more concrete than I'm able to tell you today, probably by November.”
