Advisers subject to 100,000 searches
AUSTRALIANS have made more than 100,000 searches of the corporate watchdog’s twomonth-old register that lists the work history of the nation’s financial advisers.
The sector has been under the microscope after a series of scandals relating to dodgy ad- vice swept up major providers, including the Commonwealth Bank, Macquarie Bank and National Australia Bank.
There are more than 23,000 financial advisers now on the register, which details who they have worked for and whether they have been banned or disqualified. The register, accessible at moneysmart.gov.au, was updated yesterday to include information about advisers’ qualifications, training and memberships of professional bodies, the Australian Securities and Investments Commission said.