Every business finance decision happens inside a supervised network. Banks (including investment banks), finance companies, super funds, unit trusts and life insurers supply funds; the ASX is the marketplace where investors buy shares so companies can raise equity; ASIC and company law enforce the rules. Add institutions one group at a time, then switch ASIC off to see what is left unpoliced.
The ASX is a marketplace, not a lender: it is where investors buy and sell shares, so a company can raise equity by selling new shares to them. When a company does an initial public offering (IPO) or a later share issue, the money comes from investors: superannuation funds, managed funds and individuals. The ASX provides price transparency, liquidity and standard reporting rules so investors can buy in and sell out. Because risk is spread across thousands of shareholders and continuous trading sets market prices, raising money this way can cost less than a private deal.
ASIC polices disclosure and conduct so trust scales beyond personal relationships—without that enforcement layer, equity markets collapse into insider deals and capital costs skyrocket.