AMP Resolves Commissions Class Action with AU$29 Million Settlement
AMP (ASX: AMP) has reached an agreement in principle to settle a class action regarding commissions for financial and insurance advice. The legal matter, which began in 2020, revolves around commissions paid from July 2014 to February 2021. The case involves AMP Limited, its former subsidiaries, and Resolution Life Australasia (previously AMP Life). The agreed settlement is valued at AU$29 million, awaiting final approval from the Federal Court of Australia. AMP has not admitted liability in this case. CEO Alexis George expressed satisfaction with resolving this legacy issue, allowing the company to focus on future objectives and customer service
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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AMP Resolves Commissions Class Action with AU$29 Million Settlement
AMP (ASX: AMP) has reached an agreement in principle to settle a class action regarding commissions for financial and insurance advice. The legal matter, which began in 2020, revolves around commissions paid from July 2014 to February 2021. The case involves AMP Limited, its former subsidiaries, and Resolution Life Australasia (previously AMP Life). The agreed settlement is valued at AU$29 million, awaiting final approval from the Federal Court of Australia. AMP has not admitted liability in this case. CEO Alexis George expressed satisfaction with resolving this legacy issue, allowing the company to focus on future objectives and customer service
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au