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Recordkeeping woes revealed in CBA compo claims

by Integrity of information, Lack of transparency, Recordkeeping rights, Systemic failure

The Commonwealth Bank does not currently have advice files for more than one in 10 of the cases registered for its compensation scheme for victims of dodgy financial advice. A CBA update on Tuesday said that of the more than 9000 cases registered under its open advice review program, some 1050 cases had “no advice file that is currently available for assessment”.
To have 9000 registered cases, and to be unable to find the files for 1000 of them is astonishing.

Labor senator Sam Dastyari

Read more: Sydney Morning Herald, February 2 2016

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