AMP responds to APRA’s compliance orders

Company News

by Rachael Jones

AMP (ASX:AMP) released a statement to the ASX this morning saying they would fully implement the directions and conditions set out by Australian Prudential Regulation Authority (APRA) regarding compliance orders on AMP Super.

The move comes after continued concerns over the company's management in the wake of the financial services royal commission.

The AMP says "We have been working constructively with APRA on this matter and have already taken action on a number of the issues raised".

Shares in AMP (ASX:AMP) closed 2.28 per cent higher at $2.24.
 

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.