The Securities Commission is warning financial advisers to shape up or face being shipped out under new disclosure rules. The Institute of Financial Advisers, which has about 1500 members, says the rules will mean "unprincipled and incompetent" advisers could face real penalties or be taken out of business. Disclosure rules will make it clear if advisers get commissions if an investor renews the investment after a set period. The Institute of Financial Advisers represents 1500 financial advisers, with about 600,000 clients. read more

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