Fees for no service compo may top $1bn

By Megan Neil
Updated August 17 2018 - 6:41pm, first published 6:38pm
ASIC deputy chair Peter Kell says compensation for fees-for-no-service could top $1 billion.
ASIC deputy chair Peter Kell says compensation for fees-for-no-service could top $1 billion.

The corporate regulator is set to take legal action over the charging of fees for no service by the financial services industry, as it predicts more than $1 billion may be repaid to customers.

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