Spinout: CommBank glosses financial planning scandal
Last year's scandal over the behaviour of the Commonwealth Bank's financial planners was a big deal, right? Well, not if you ask the bank itself.
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On the Friday before Christmas, the Commonwealth Bank released the first of a series of “independent” reports on its Open Advice Review Program, set up to compensate victims of scandalous misconduct within its Commonwealth Financial Planning (CFP) and Financial Wisdom (Finwis) divisions, exposed in a multi-year investigation led by Fairfax Media’s Adele Ferguson which triggered a Senate inquiry. Not everybody is happy with the process. We unpick the formidable spin from the country’s biggest bank.
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About the Author
Paddy Manning
Contributor
Paddy Manning is a freelance investigative journalist who has worked for Schwartz Media, ABC RN, Crikey, the SMH/Age, the AFR and The Australian. He is author of six books, including The Successor: The High Stakes Life of Lachlan Murdoch (Black Inc, 2022). He is an associate member of the Centre for Media History at Macquarie University, where he is completing a PhD on "A Century of News Corp in Australia".
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