‘Surprising and concerning’: AMP hit with $14.5M penalty in fees for no service case

AMP 2022-09-20 11:00 pm By Cindy Cameronne | Sydney

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A judge has imposed a $14.5 million penalty on five AMP entities, saying it was “surprising and concerning” that the wealth manager deducted $356,000 from customers’ superannuation accounts for advice they never received, despite numerous complaints.

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