By Lorna Tan, Senior Correspondent

LOCAL stockbroker Phillip Securities has started clawing back commissions from staff who sold toxic products - and advisers fear they may have to pay even more out of their own pockets.

The firm has not decided on the final sum, and is withholding a portion of monthly commissions from advisers who sold Minibonds structured products that failed in the financial crisis.

This is pending a final decision on the amount advisers must pay up.

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