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ASIC scraps AMP criminal action


ASIC scraps AMP criminal action
Jul 16, 2021 – 8.38am
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The corporate watchdog has junked its criminal investigation into AMP over the royal commission’s explosive fees-for-no-service action after the Commonwealth Director of Public Prosecutions found the case should not be taken to court.
The Australian Securities and Investments Commission on Friday said the CDPP found that no charges should be brought for the conduct which saw customers without a financial adviser – and therefore without any service – continue to be charged fees for financial advice.
Royal commissioner Kenneth Hayne.  
AFR
ASIC has filed two briefs of evidence with the CDPP, indicating that the corporate regulator believed it had a strong case to fight in court. ....

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