Financial Standard Comments - CBA promoted Nguyen to keep him away from clients The Senate inquiry into the performance of the Australian Securities and Investments Commission (ASIC) has heard that the Commonwealth Bank (CBA) promoted financial planner Don Nguyen, despite allegations of fraud. https://www.financialstandard.com.au/feed/latest?story=39318161 Thu, 10 Apr 2014 15:17:41 +1000 Thu, 10 Apr 2014 15:17:41 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by B B (N/A)

Cohen admitted that "we did have poor systems, we did not have the right people, and we did not have the right culture."

Just a few weeks ago Ian Nirev was on this very site suggesting that any suggestion of 'cultural' issues within CBA FP was just plain wrong..... it was all a few bad apples.

I called this out then and now CBA's own general council may have just contradicted him. Is this the first time CBA has publicly admitted that its issues were systemic? Despite the whistle blowers, lawyers and ASIC stating that was the case.

Let's not get too excited. Read this from CBA's own website https://www.commbank.com.au/about-us/news/on-the-record/2013/response-to-fairfax-media-regarding-commonwealth-financial-planning-and-don-nguyen.html.

Now tell me if this reflects the ASIC reports and CBA's own testimony today?

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]]> B B (N/A) Thu, 10 Apr 2014 15:17:41 +1000 Comment by Ross Cardillo (Ross Cardillo Financial Services) Unbelievable

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]]> Ross Cardillo (Ross Cardillo Financial Services) Thu, 10 Apr 2014 17:01:31 +1000 Comment by Don Burke (KFC) Annabel is incorrect. All Senior Financial Planner means at CFP is that they deal with clients worth above $500K and have a wider APL

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]]> Don Burke (KFC) Sat, 12 Apr 2014 02:23:31 +1000