Will CBA switch off trails?
The Commonwealth Bank is actively considering the possibility of switching of trailing commissions.
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been told that the future of both grandfathered and trailing commissions is under active consideration by both the Commonwealth Bank and Colonial First State (CFS).
Under questioning from counsel assisting the Royal Commission, Michael Hodge QC, CFS executive general manager, Linda Elkins confirmed that the future of trails was under consideration.
Answering further questions from Hodge, Elkins said it was possible that a decision would be made to terminate trails.
Answering earlier questions with respect to trailing commissions applying to products, Elkins said that all arrangements were under review.
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