ASIC Unveils Roadmap to Drive Economic Growth in Australia
The Australian Securities and Investments Commission (ASIC) has unveiled a new roadmap designed to strengthen Australia’s capital markets and position them as globally competitive engines for economic growth. The report, titled “Advancing Australia’s Evolving Capital Markets: Discussion Paper Response (REP 823)”, lays out a series of actions to promote efficiency, transparency, and innovation across both public and private markets.
Drawing on extensive research and consultation, including findings from ASIC’s private credit surveillance (REP 820) and expert insights from Dr. Carole Comerton-Forde and EY Parthenon, the roadmap addresses emerging risks and new opportunities shaping capital formation. It also synthesizes input from nahead 100 industry submissions in response to ASIC’s earlier discussion paper on the future of Australia’s capital markets.
“This roadmap lays out the choices and future of Australia’s markets,” said ASIC Chair Joe Longo. “We want our markets—private and public—to grow. That growth means stronger businesses, more jobs, and a boost to our economy. Strong markets have strong market integrity, and this roadmap lays the foundation for both to thrive together.”
Takeaway
Modernising Public and Private Market Frameworks
ASIC’s roadmap reinforces its support for modernising Australia’s public market structures by streamlining IPOs, simplifying disclosure requirements, and encouraging broader participation from companies and investors. The report highlights collaboration between regulators, market operators, and the government to refine listing frameworks, director responsibilities, and free float requirements—all while promoting more foreign listings and competition .
In private markets, ASIC has called for enhanced supervisory tools and data visibility to ensure robust oversight. These include better reporting mechanisms for wholesale funds, mandatory independent audits, and stronger notification requirements for fund operations. The regulator aims to strike a balance between innovation in through oversight and transparency.
“At the heart of this roadmap is a clear message—that Australia and ASIC want to be backers, not blockers, of investment and capital,” Longo added. “This is a launchpad for action, not the finish line. We must be bold and seize the opportunities ahead so that our competitive.”
Takeaway
Focus on Private Credit, Superannuation, and Market Integrity
With private credit emerging as a key financing channel for Australia’s economy, ASIC’s roadmap outlines measures to improve compliance, transparency, and investor protection in this growing segment. Initiatives include a catalogue of fund managers’ legal obligations, refreshed guidance for fund management, and closer collaboration with industry bodies to strengthen best practices.
ASIC Commissioner Simone Constant emphasized the systemic importance of superannuation trustees in shaping Australia’s financial markets. “Our superannuation trustees are as systemically significant as banks,” she said. “As they expand into new investment areas like private credit, their role in ensuring integrity and transparency becomes even more critical.”
Constant also reaffirmed ASIC’s commitment to increased surveillance and enforcement across private markets. “If we do not view material improvements, we are prepared to pursue stronger regulatory action. Acting now to address poorer practices will assist avoid future disruption,” she stated. The roadmap thus underlines ASIC’s intent to foster both opportunity and accountability—ensuring that private and public markets grow sustainably and in tandem.
Takeaway
