The government will require all new financial planners from 2017 to hold a degree, pass an exam and spend a year developing their professional skills under new proposed laws.
A comprehensive code of ethics will also be introduced for the scandal-prone industry from mid 2019 as the government tries to rebuild public confidence in the sector.
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Clancy Yeates is deputy business editor. He has covered banking and financial services, and was previously national business correspondent in the Canberra bureau. Connect with Clancy on Twitter.
