Oz regulator warns advisers no escape from their 'RDR'

The Australian Securities and Investments Commission (ASIC) is working on reforms which will include lifting the professional and ethical standards required by financial advisers. Although he insisted the majority of the advisers support the proposals, Greg Medcraft, chairman of ASIC, had a warning for those thinking of avoiding them, ninemsn reports. He said: "People should be pretty careful because our intelligence sources are pretty good. "It gets back to us and a lot of our information is coming from financial advisers." He reminded the Financial Ombudsman Services conferenc...