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IrelandASIC warns private credit risks reach Australians through retirement savings
Commissioner Simone Constant threatens court action as the regulator finds persistent gaps in information about risks, fees and conflicts.
AustraliaStory of Why this story? One of ABC News (Australia)'s most watched videos since yesterday, with 43,587 views.
ABC News (Australia): The news division of the ABC, Australia's public broadcaster. 2.6M subscribers and 1.7B views.
ASIC says it's 'fed up' with private credit sector's seeming indifference to cleaning up its act
Things we can learn from the video
Press to jump
- 0:12ABC reports interim stop orders on two Angus Securities funds over undisclosed exposure to failed developer Bathla.
- 0:52Constant says ASIC is fed up with inadequate transparency and wants the industry to improve compliance.
- 2:09ASIC's findings include complex structures, opaque finances and concerns about investors receiving full economic returns.
- 3:15Constant warns that ASIC is prepared to pursue court-based enforcement against non-compliant fund managers causing harm.
- 4:33She says the deficiencies examined are too widespread to dismiss as a few isolated operators.
- 6:01Superannuation investments expose ordinary Australians to private credit, making understandable disclosures essential, Constant argues.
Australians may have money exposed to private credit without having chosen a fund themselves, ASIC commissioner Simone Constant warns, pointing to investments made through superannuation, the country's retirement savings system.
Her interview on Australia's Australian Broadcasting Corporation (ABC) programme The Business connects that everyday exposure with a sharper regulatory warning: fund managers have had time to improve, and ASIC is prepared to go to court.
"I am absolutely fed up. At ASIC, we are absolutely fed up," Constant says.
Private credit means lending outside the banking sector. The report explains that it helps finance property development and construction, but ASIC says investors are still being left without enough information to understand the risks, fees and conflicts attached to their investments.
The segment opens with ABC reporting that the Australian Securities and Investments Commission has issued interim stop orders on two Angus Securities funds over undisclosed exposure to failed developer Bathla. Constant places that action within a two-year examination of the sector's practices.
ASIC's second major surveillance report found that complex structures, opaque finances and deficient disclosure persist. Constant also identifies concerns about whether investors receive the full economic returns from their investments. Her point is not simply that the paperwork is difficult: investors need to understand where their money goes and what they receive in return.
Asked whether the problems amount to a few isolated operators, she rejects that reassurance, citing deficiencies across the wholesale and retail funds examined. "We wouldn't say yet that we're convinced this is a few bad apples," she says.
Constant makes the enforcement threat explicit: "Absolutely ASIC will use court-based enforcement as a tool." She closes by returning to ordinary Australians' exposure through retirement funds, arguing that understanding an investment should not require advanced financial qualifications.
Australia's national corporate regulator, responsible for overseeing companies and financial services and enforcing laws that protect consumers, investors and creditors.
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Where next?
- Channel
- ABC News (Australia)
- Subscribers
- 2,640,000
- Channel views, last 7 days
- 13,398,225
- Channel views, pace per day
- 1,316,066 (on a normal day: 1,464,937)
- Video published
- November 10, 2026
- Video views so far
- 43,587 (less than a day online)
- Video views, pace per day
- 45,815
The numbers
The interview drew about 44,000 views since yesterday, placing it among Australia's most-watched new news videos.
💡 Test your knowledge
What is Australia's superannuation system primarily designed to fund?
Superannuation is Australia's retirement savings system, through which Constant says ordinary Australians can have private credit exposure.