June 23, 2020 BY Steffy Bogdanova
CBA and Colonial First State sued for breached of the conflicted remuneration ban
The Australian regulator alleges that the arrangements between CBA and CFSIL breached the ban on conflicted remuneration as the arrangements could influence the choice of financial product recommended by CBA to retail clients or the financial product advice. ASIC is looking for civil penalties against CBA and CFSIL. The maximum penalty could go up to…
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