Chris Andrews supports ASIC efforts to improve private credit regulation
What happened
Chris Andrews, Chief Executive Officer of La Trobe Financial, stated that the issue facing the financial sector is not private credit itself, but rather how individual funds are operated. He called for greater transparency across financial markets. The Financial Services Council introduced a mandatory private-markets standard for funds management members, which is set to take effect on July 1, 2027, to address sector concerns.
From brokernews.com.au
Why it matters
The new mandatory standard defines private credit, which includes direct loans from non-bank institutions, and establishes clearer rules for valuing investments and disclosure standards. This regulatory action follows renewed scrutiny of the sector after the collapse of Bathla Group, a property developer that owed much of its debt to private-credit lenders.
From brokernews.com.au
Who's involved
- Chris AndrewsLa Trobe Financial's Chief Executive Officer, calling for greater financial market transparency
- ASICThe corporate regulator involved in closing regulatory gaps in the financial markets
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ASICSpeculative
Funds management members might face changes in disclosure standards and investment valuation rules due to the mandatory private-markets standard.
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The entities involved
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ASIC
organization