The securities Securities and Investments commission ( ASIC ) has recommended that Commonwealth Financial Planning ( CFPL ) implemented all recommendations , following its fees for no service providers . CFPL , a division of the Commonwealth Bank of Australia , gave ASIC an independent recommendation from Ernst & Young , as well as an attestation submitted by Angus Sullivan , executive of retail banking services . ASIC indicated it would continue to monitor CFPL as it transitions to a new service model .
The Australian Securities and Investments Commission (ASIC) has confirmed that Commonwealth Financial Planning (CFPL) implemented all recommendations, following its fees for no service conduct. CFPL, a division of the Commonwealth Bank of Australia, sent ASIC an independent report from Ernst & Young, as well as an attestation signed by Angus Sullivan, executive of retail banking services. ASIC said it would continue to monitor CFPL as it transitions to a new service model.