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Australia’s AMP handed $9.7 million penalty for fee-related breaches
2022.09.20 02:04
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© Reuters. FILE PHOTO: The logo of AMP Ltd, Australia’s biggest retail wealth manager, adorns their head office located in central Sydney, Australia, May 5, 2017. Picture taken May 5, 2017.REUTERS/David Gray/File Photo
(Reuters) – Wealth manager AMP (OTC:) Ltd said on Tuesday it was handed a A$14.5 million ($9.74 million) penalty by the Federal court in relation to breaches concerning the historic charging of “Plan Service Fees.”
($1 = 1.4890 Australian dollars)
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