A further 1598 cases have been registered with the Commonwealth Bank’s Open Advice Review program.

The program, which offers an assessment of financial advice received, access to an independent customer advocate and an independent review panel – was initiated following the bank’s financial services business becoming linked to widespread instances of fraudulent behaviour.

In its third report on the scheme, Promontory Financial Group says at the end of August there were 8835 cases registered and 1285 had progressed to the assessment stage.

Some 686 cases had been issued with a compensation decision at August 31.

Of those, 19 had taken the bank’s offer, while 191 accepted the decision without any offer of compensation.

A further 63 either rejected or did not respond to the bank’s offer and withdrew from the program.

Another 63 made counter-offers to the bank, and 350 were still considering their assessments.

None of the cases that have received assessments have sought a review by the independent review panel, although one has contacted the Financial Ombudsman Service.

At August 31 the bank had offered $950,252 of compensation to clients of Commonwealth Financial Planning and Financial Wisdom.

The next report by Promontory is expected in January.