Commonwealth Bank financial planners are reportedly still being paid commissions and fees from risky funds that have been frozen since November 2008 during the global financial crisis.
The seven so-called "zombie funds", two of which remain in the red, continue to pay annual fees to the bank and commissions to the bank's financial advisers, Fairfax Media reports.
A bank spokeswoman denied payments were being made to one of the bank's former star planners, named in a Senate inquiry as Don Nguyen, and said more than 99 per cent of client account balances have been repaid.
The federal government has played down the prospect of a royal commission to probe the Commonwealth Bank financial advisers who lost clients' money.
Finance Minister Mathias Cormann said he'd received the parliamentary committee report into the issue and was carefully considering its 61 recommendations.
"When I work through it, we'll make a full response," he told ABC radio on Friday.
Share
