Avanteos hit with $1.7M penalty in landmark criminal case over dead member fees

ASIC 2022-06-15 9:52 pm By Christine Caulfield

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Former Commonwealth Bank subsidiary Avanteos Investments has been slugged with a $1.7 million penalty after pleading guilty to charges it failed to update disclosure statements on products that continued to deduct adviser fees from accounts of dead superannuation members.

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