The corporate regulator Australian Securities and Investment Commission (ASIC) has joined voices with others calling for financial advisers to hold a university degree, telling the financial system inquiry it supports the move because investment products are “complex and not well understood by consumers and investors”.
In its submission to the financial system inquiry, chaired by former Commonwealth Bank chief executive David Murray, ASIC also asked for the power to ban investment products and intervene more heavily in the market.
Source: Fairfax Media