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12 November 2025

Funds Update - 7 November 2025

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Herbert Smith Freehills Kramer LLP

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ASIC has released four reports following its capital markets discussion paper released in February 2025 reported on in our funds alert of 28 February 2025 and report 814 reported...
Australia Finance and Banking
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ASIC releases capital markets roadmap and reports

ASIC has released four reports following its capital markets discussion paper released in February 2025 reported on in our funds alert of 28 February 2025 and report 814 reported on in our funds alert of 26 September 2025.

  • In its report Advancing Australia's evolving capital markets: Discussion paper response (REP 823) ASIC outlines a roadmap to tackle emerging risks in Australia's public and private markets. It outlines future surveillance, guidance and potential law reforms of relevance to the managed investment funds industry.
  • This roadmap draws on critical findings from ASIC's new surveillance into the private credit sector which are set out in REP 820.
  • REP 823 further builds on the expert advice contained in REP 822 Australia's capital markets: Forces shaping the next decade and REP 821 Private capital market reporting: Global practices and lessons.

In relation to private credit, ASIC has announced that it will:

  • issue a catalogue that summarises fund managers' legal obligations and related ASIC regulatory guidance
  • refresh funds management regulatory guidance on a targeted basis
  • engage with industry bodies as they work to enhance industry standards.

You can read our update on REP 823 and REP 820 here.

New breach data dashboard launched

ASIC has launched its new reportable situations dashboard where the public can now access data about reported breaches of the law by Australian financial services licensees.

We have previously reported on the proposed introduction of ASICs reportable situations dashboard on 10 October 2025.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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