Opaque Australian Private Markets Pose Outsized Risk, ASIC Says
- ASIC says more investors becoming exposed to private markets
- Australia regulator outlines strategic priorities in report
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Private markets in Australia are hiding potentially large risks to a growing number of investors amid their rapid expansion, making them a key policy focus for the nation’s securities regulator.
The Australian Securities and Investments Commission made private markets and emerging financial products one of its top five strategic priorities, according to its 2024 corporate plan released Thursday. ASIC said its progress to increase scrutiny of the financial industry and credit providers is stymied by limits to its power to collect detailed recurring data.