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Banks have offered $750M in fees for no service refunds so far, ASIC says
Financial Services 2020-02-11 11:22 pm By Cat Fredenburgh

Six of Australia’s biggest financial services institutions have so far paid or offered $749.7 million in compensation to hundreds of thousands of customers who were […]

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Judge hits AMP with $5.2M penalty, says greedy financial adviser was ‘in the right place’
Financial Services 2020-02-05 11:05 am By Miklos Bolza

The Federal Court has imposed a penalty of almost $5.2 million on AMP Financial Planning after finding it was “reckless” in its “lamentable failure” to […]

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Royal commission class actions keep rolling in, one year after Hayne report
Financial Services 2020-01-23 7:13 pm By Cat Fredenburgh

A year after Commissioner Kenneth Hayne released his scathing report, companies in the financial services sector are still facing fresh class actions over conduct aired […]

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Judge tells AMP units to cooperate in superannuation class action
Class Actions 2019-12-18 7:24 pm By Miklos Bolza

A judge overseeing a consolidated class action against four AMP subsidiaries and two trustees over allegedly excessive superannuation fees has ordered the respondents to coordinate […]

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Former AMP lawyer slams ‘outrageous’ claim she was on performance management plan
Employment 2019-12-12 10:34 pm By

Counsel representing ex-AMP general counsel Larissa Cook in her bullying case against the financial services giant has slammed as “outrageous” a claim that her client […]

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AMP group exec says bullying claims by former GC were news to her
Employment 2019-12-04 5:24 pm By Miklos Bolza

AMP’s group executive says she was never told of bullying claims made against her by former general counsel Larissa Cook until the lawyer filed a […]

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‘Hostile, aggressive’: Former AMP general counsel alleges bullying in $2.7M lawsuit
Employment 2019-10-24 3:34 pm By Miklos Bolza

A former AMP general counsel responsible for preparing the financial giant for the banking royal commission has launched a $2.7 million lawsuit alleging “hostile, aggressive […]

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ASIC calls out insurers, super funds for selling ‘junk’ TPD insurance
Insurance 2019-10-17 5:09 pm By Amelia Birnie

AMP, Asteron and Westpac have been singled out by ASIC for having higher than expected decline rates for total and permanent disability life insurance claims, […]

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Corrs retained by AMP financial planners to weigh class action
Financial Services 2019-10-15 10:44 pm By Christine Caulfield

Corrs Chambers Westgarth has been retained by the AMP Financial Planners Association to weigh a possible class action against the wealth manager over its plan […]

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Court of Appeal tosses Quinn Emanuel challenge to AMP beauty parade loss
Appeals 2019-10-08 4:38 pm By Miklos Bolza

A challenge by Quinn Emanuel to a NSW Supreme Court decision staying its shareholder class action against AMP has been unanimously dismissed by the Court […]

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