In this episode of Financial Services Online's Weekly Finance News Wrap, Paige Estritori discusses the concerns raised by the Australian Securities and Investments Commission (ASIC) about the private credit market. The ASIC has published a new report, "Private Credit in Australia", calling for improved governance in fees, transparency, conflicts of interest, and misuse of terminology. Market staple La Trobe Financial promises to align better with global standards. The ASIC's increased scrutiny puts pressure on fund managers to improve their governance. The associated Timbs-Williams report expresses concern about retail investors joining the private credit market without adequate oversight, emphasising increased possibilities of conflicts of interest and the opacity of the market. This signifies a crucial moment for the financial sector, as enhanced regulatory measures are expected to foster market transparency and consumer protection.n