ASIC has issued a catalogue of key legal obligations for private credit funds, other than banks and public markets, which provide debt financing for businesses.
ASIC’s catalogue summarises the sources of its regulatory guidance to help retail and wholesale private credit fund operators more easily identify and comply with existing regulatory obligations.
The catalogue is divided into 9 themes:
- General licensee obligations
- Risk management
- Managing conflicts of interest
- Fees and transparency
- Valuations
- Design and distribution
- Marketing and advertising
- Governance
- Responsible entity obligations
The catalogue complements the principles previously issued in Report 820 as a benchmark for firms to assess their current practices. Background.
The catalogue does not include all applicable legal and regulatory obligations. It is not intended to be a substitute for legal advice and may be relevant to funds with investment strategies beyond private credit.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
