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ARTICLE · 27 OCTOBER 2025

Funds Update - 24 October 2025

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

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Earlier this week, ASIC announced that it had issued PDS stop orders in relation to the PDSs for two classes of units of a registered...

AustraliaFinance and Banking
Fiona Smedley
Fiona Smedley
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In this Funds Update for 24 October 2025:

  1. PDS stop orders issued in relation to a credit fund
  2. Proposed public register of the beneficial owners of unlisted companies

PDS stop orders issued in relation to a credit fund

Earlier this week, ASIC announced that it had issued PDS stop orders in relation to the PDSs for two classes of units of a registered managed investment scheme credit fund.

The PDS stop orders are an example of ASIC's retail private credit surveillance which has focussed on "fund transparency, governance, valuation practices, management of conflicts of interest and fair treatment of investors, conducted as part of its response to Australia's evolving capital markets" (see our earlier articles of 26 September 2025 and 28 February 2025).

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