That's a wrap, but Ms Perkovic is still on the hook

The commission has ended with CBA's Marianne Perkovic finally conceding that the bank habitually charged customers for services that were not provided.

Senior counsel assisting the commission Michael Hodge QC and Commissioner Kenneth Hayne grew increasingly impatient with Ms Perkovic, as I explained to Linda Mottram on PM.

After disputing the meaning to be attributed to internal memos between the bank's senior managers in early 2012, Ms Perkovic eventually had to admit that a Deloitte report handed to CBA in July 2012 revealed systemic problems in ensuring that customers weren't being charged for financial advice they did not receive.

Deloitte had found that at least $700,000 in ongoing service fees were being charged to more than 1,050 clients that were allocated to more than 50 inactive financial planners who had left the business before 2012.

It appears that Ms Perkovic was finally ground down by relentless questioning from Michael Hodge QC, warnings from Commissioner Kenneth Hayne and the irrefutable evidence of the Deloitte report.

Senior counsel assisting the commission Michael Hodge QC summed up the report's conclusions thus:

It appears as if the one thing you did have systems to track was to make sure that you were getting revenue.

After so many hours of "context" from Ms Perkovic, the commission not only ran over time today but will start early at 9:30am tomorrow. Our coverage will continue then.