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AMP Limited (ASX:AMP)
ALERT: Price-sensitive ASX Announcement for AMP
Current share price for AMP : $1.645 -0.155 (-8.61%)+
Release
11 Dec 2025 8:35AM
Price at Release
$1.800
Full Release
Summary
AMP has announced a $29 million settlement in a class action suit concerning the payment of commissions for advice and insurance advice. This class action, initiated in 2020, pertains to historical commissions paid between July 2014 and February 2021. The claims were directed against AMP Limited and its former advice licensee subsidiaries such as AMP Financial Planning, Charter Financial Planning, and Hillross Financial Services, in addition to the insurance provider Resolution Life Australasia, previously known as AMP Life. AMP has agreed to this settlement without admitting liability, pending final settlement documentation and Federal Court approval.
Key Points
- Settlement of $29 million in a class action.
- Class action relates to commissions from July 2014 to February 2021.
- Claims against AMP Limited and its former subsidiaries.
- Resolution Life Australasia, formerly AMP Life, was also involved.
- No admission of liability from AMP.
- Settlement subject to Federal Court approval.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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