AMP denies criminal offence

Company News

by Rachael Jones

AMP (ASX:AMP) has today released a fact sheet reiterating their apology for the failings in respect of advice and service delivery to their customers.

They state that 'the fees for no service' issues raised in the Royal Commission were not new. They also want people to know that the issues were not uncovered by the Royal Commission – rather they had been the subject of an ongoing ASIC investigation since 2015.

AMP also strenuously denies the allegation by Counsel Assisting that it is open to find that AMP has committed a criminal offence in providing the Clayton Utz report to ASIC.

Criticism has been levelled at AMP regarding the way in which the Clayton Utz report was produced.

They say it was prepared appropriately and there is no evidence that Clayton Utz made any changes to the report.

Shares in AMP (ASX:AMP) are up 0.12 per cent to $4.13
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.