The Senate Economics References Committee has blasted Commonwealth Bank for not keeping it fully informed about matters under review and for providing information that was "sketchy" and "left many key questions unanswered".The committee announced yesterday that it would delay publication of a report because the bank and the Australian Securities and Investments Commission had not kept it fully informed.In June last year the Senate asked the committee to inquire into ASIC's performance. One of the committee's case studies was the regulator's handling of allegations of wrongdoing by financial planners at Commonwealth Financial Planning Ltd, part of CBA, dating back several years.Starting in 2011, ASIC has banned a number of CFPL employees for various breaches of financial services law, including failing to have a reasonable basis for advice and inducing clients to deal in financial products by making false or misleading statements.The committee was scheduled to report on May 30 but, according to a brief interim report released yesterday, "the committee was well advanced in preparing its report when, on May 16, ASIC and CBA advised the committee that there were inconsistencies in the way in which the compensation arrangements for CFP clients had been applied."ASIC issued a media release on May 16 saying it would impose licence conditions on two CBA businesses, CFPL and Financial Wisdom, after learning that the process developed to compensate customers was not applied consistently to all impacted customers of the two businesses.ASIC's release said: "The inconsistency disadvantaged some customers."So far, more than 1100 customers have received compensation and now another 4000 will be given the opportunity to have their files reopened.The committee said: "This suggested that, for some time, CBA had not kept either the committee or ASIC fully informed about the compensation process for clients affected by serious misconduct within CBA's businesses."The latest information that ASIC and CBA provided to the committee in order to correct the record was sketchy and left many questions unanswered."The committee said it was concerned that it may still not have a correct understanding of what has happened and has sought additional information and clarification from ASIC and the bank.It will present its financial report in June.