After determining problems with flex commissions in a 2015 audit document, Westpac launched a limit on profits dealers could recharge — nevertheless will continue to make use of the flex commission structure, which means the discernment setting the rate above the base speed and up on cover still is because of the provider.
Under questioning by administrator Kenneth Hayne, Westpac administrator Phillip Godkin acknowledge industrial causes comprise behind Westpac’s decision to continue to utilize flex profits until November.
„the challenge within market is, in terms of the method in which we compete, would be that it might be, in our view, impractical to stop it unilaterally without stepping off the industry completely,” revealed Mr Godkin. (więcej…)
