Business
AMP legal action nears as ASIC probes ‘significant number’ of matters – Sydney Morning Herald
The corporate cop has revealed it has at least five active investigations into AMP and legal action would likely be filed by the end of the year.
Labor Senator Deb O’Neill has also called on ASIC to investigate whether changes to long-standing arrangements with current and former aligned advisers could have broken the law.
However, the coronavirus pandemic has made it impossible for the regulator to conduct face-to-face interviews to probe new allegations of misconduct so any legal action against AMP would likely centre on revelations from the banking royal commission, including charging fees for no service.
AMP declined to comment on t…
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