Financial services provider AMP has hit back at ASICās civil penalty action alleging it charged super members fees for no service, saying it was not involved in its licenseesā contraventions.
A retired financial planner has filed a lawsuit accusinf AMP of using āunfair tacticsā to avoid coughing up close to a million dollars allegedly owed under a buyout option exercised in November 2019.
Software company DST Bluedoor is fighting to access communications between its former founding director and AMP in a $35.5 million legal stoush alleging the financial services firm induced 11 employees to jump ship after licensing its online platform.
AMP has hit back at fees for no service court proceedings brought by ASIC, arguing it was legally entitled to charge customers premiums and advice fees for life insurance after they died.
AMP has lost its bid to access documents showing software company DST Bluedoor’s revenue forecasts and employee remuneration in a $35.5 million legal stoush alleging the financial services firm induced 11 employees to jump ship after licensing its online advisor platform.
The former director of Sydney financial planning practice Hillross Bella Vista has been conditionally released without a conviction recorded after pleading guilty to falsifying documents uncovered during an investigation by the Australian Securities and Investments Commission.
Six of Australia’s biggest financial services firms have paid or offered to pay a total of $1.86 billion to customers who were wrongly charged fees for no service or were given bad advice.
The Australian Securities and Investments Commission has hit financial services provider AMP with court action over fees-for-no-service conduct that allegedly led to upwards of $600,000 being unlawfully withdrawn from superannuation member accounts.
The Australian Securities and Investments Commission has dropped its criminal investigation of AMP over its fees-for-no-service conduct which was aired during the banking royal commission.
AMP and a number of its financial planning subsidiaries have launched a bid to declass a group proceeding jointly run by Piper Alderman and Shine Lawyers over allegedly excessive insurance premiums.