Financial Services Minister Bill Shorten has asked the Australian Prudential Regulation Authority to help regulate the $4.5 billion unlisted debenture industry, the Financial Review reports.The move would probably result in minimum capital and liquidity standards for the sector, the report says. They would require APRA to co-operate with the Australian Securities and Investments Commission to bridge a regulatory gap relating to the shadow banking system.The move could trim the advantage the less regulated financiers currently have over banks and other regulated entities.Shorten's move follows the collapse of Banksia Securities and a series of other failures.According to the Financial Review, Shorten said he had earlier asked ASIC for a "road map" on addressing gaps in the law."Yesterday [Tuesday] I met with ASIC and indicated my support for the direction they were going," Mr Shorten was quoted as saying.