The Australian Securities and Investments Commission (Commonwealth Financial Planning) has confirmed that ASIC (CFPL) implemented all recommendations, following its fees for no service conduct. CFPL, a division of the Commonwealth Bank of Australia, sent Commonwealth Financial Planning an independent report from Ernst & Young, as well as an attestation signed by Angus Sullivan, executive of retail banking services. Commonwealth Financial Planning said 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.