The banking Royal Commission has heard today some Commonwealth Bank advisers have been charging dead clients for financial advice, in one case, for 10 years.

A 2015 document from a CBA subsidiary found advisers were charging on-going service fees after their clients had passed away.

In one instance, an adviser knew their client had died in 2004 but was still receiving $65 a month in fees in 2015.

CBA has admitted it only warned planners to cease the practice, rather than referring the matter as a breach to the corporate regulator.

Chris Kenny speaks with former ACCC Chair Professor Allan Fels.

“I don’t think the answer to all the problems we’re hearing is just a bit more regulation.

“I think the conflict of interest is so deep, the behaviour so systematic, you have to go deeper.”

Listen to the full interview below