The Australian Securities and Investments Commission (ASIC) is set to deliver its first report on private markets early this year, less than 12 months after its announcement on increased scrutiny of the asset class caught some local lawyers off guard.
Since then, top firms have been examining what a deeper regulatory focus on private markets might mean for their clients.
DLA Piper’s incoming country managing partner for Australia, Shane Bilardi, told Capital Brief last month that the firm had been looking offshore to see what other regulators have done.
He said themes from overseas that are likely to be of interest to ASIC include “approach to valuation, the interaction between general partners and limited partners, and ultimately, how that flows back to impact on the indirect retail investor”.
