18 Jun 2010

Ethical standards to be improved in financial services industry

11:11 am on 18 June 2010

There are moves to revamp ethical and professional standards within the financial services industry in Australia.

Following a number of high-profile corporate collapses, financial planners will now have to conform with new industry-wide credentials as part of moves to revamp ethical standards.

The Financial Services Institute of Australasia says the new professional credentials will vouch for an individual's experience, technical knowledge and ethical conduct.

The institute says members who engage in dishonest or unethical behaviour will face serious consequences.