Australian Securities and Investment Commission chairman Greg Medcraft says regulation will be toughened up in the wake of recent financial advice scandals.

POLICE Minister Jo-Ann Miller wants to crack down on dodgy financial planners, saying they may actually fall into the category of white-collar criminals.

The move comes as the new minister considers an increased use of intensive correction orders for non-dangerous criminals – which allow offenders to serve out their time in the community under strict supervision, rather than in jail.

FREE PASS: More crims to avoid jail

BACK PEDAL: Bikie regulation under review

Such orders involve up to 12 hours of community service a week and a number of reporting requirements.

Ms Miller said she was seeking advice about the best way to tackle the issue of white-collar crime, which is grappled with by both state and federal authorities.

During the election campaign, Labor promised a $6 million commission of inquiry into organised crime.

While that probe could well examine the issue of white- collar crime in Queensland, Ms Miller plans to get briefings on how she can help “victims of really poor advice” see justice.

“I’ll be waiting for the outcome of the inquiry and also I’ll be seeking advice as well, professional advice in relation to it,” she said.

In her crosshairs are those who knowingly lure investors into dubious financial decisions.

“There would be a number of people who may view financial planners, who’ve given ­advice that they might believe is wrong, as white-collar criminals,” she said.

Fear versus greed: Australia's mortgage system Can a firm stance from ASIC prevent another large scale episode of mortgage fraud? John Durie explains why he's skeptical.

Ms Miller believes the broader area of white-collar crime needs to be investigated further.

“I think there is a view in society that white-collar criminals have not been the focus, so much, of law enforcement agencies, whether it be ASIC or whether it be the federal agencies,” she said.

“I’ll await the outcome of the inquiry, but it’s certainly an area that I think deserves a thorough investigation, without any doubt.”

The Police Minister says victims of such advisers would want to see action.

“For people who have been victims of really poor advice, I’m sure that they would like to see some movement in that area,” she said.

“Because there have been certainly a number of people who’ve taken the advice of people who they thought were considered professionals, without getting the advice checked or without understanding what they were getting themselves into.”