Watchdog Halts Second Private Credit Fund in Australia Probe

Australia’s markets regulator has temporarily blocked a second private credit fund in as many days, stepping up its crackdown on how the products are pitched to retail investors.

The Australian Securities & Investments Commission issued a 21-day stop order on boutique firm RELI Capital Ltd., stopping it from promoting a A$50.9 million ($33.6 million) mortgage fund, according to a statement Friday. The regulator cited concerns that the product may not be suitable for retail investors.