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Last week I had the opportunity to attend ASIC’s Annual Forum 2025 in Melbourne.
The programme was themed on “Australia in a dynamic world”, and was a powerful reminder that our regulatory settings, markets and institutions are being reshaped faster than ever. While much of the content was focused on Australia, many of the themes are just as relevant for those of us in New Zealand. Those that really stood out for me were:
Across all the panels, the view was that Australia is an attractive destination for capital but is not immune to global disruption. Maintaining their edge means being ambitious and collaborative: modernising markets, not just maintaining them.
Leaders highlighted that capital is increasingly mobile and contested (and private, more on that below). Australia needs deep, efficient markets and clear rules to ensure global and domestic investors keep backing their economy. Especially during times of productivity challenge, geopolitical uncertainty and low fertility (side fact: Australia’s birth rate is around 1.5, The replacement rate is considered 2.1. Here in NZ, we’re only slightly better at around 1.6).
It was underscored that a push to modernise regulation to support innovation while preserving trust was required, particularly around technology, new market structures and the public/private market balance. The conversation is not “more rules” but “better, smarter rules”.
It was reinforced that a prosperous corporate sector is a prime target for espionage, cybercrime and data theft. Cyber resilience is not just an IT issue, it’s a board-level, whole-of-business priority.
With higher premiums, climate-related risks and market volatility, trust in financial institutions depends on being visibly fair, transparent and responsive, especially in claims handling and complaints. Affordability of insurance, and the risk of exclusion, are key concerns.
Private markets and private credit are growing rapidly, fuelled by superannuation and global managers, but ASIC’s private credit review and capital markets work show real concern about conflicts, transparency and systemic risk. ASIC advised to expect more guidance, and more scrutiny, on governance, valuations and disclosure.
AI, quantum computing and tokenised assets are already reshaping financial services. The challenge now is to build guardrails that allow innovation while protecting consumers, markets and data in a world where capital and code move instantly.
A well spent couple of days.
Image source: ASIC
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