AMP faces another class action
AMP Limited is facing into another legacy class action.
The company has announced to the Australian Securities Exchange (ASX) that a new class action proceeding has been filed against N.M. Superannuation Propriety Limited in the Federal Court in Victoria.
It said the proceeding has also been commenced against AMP Superannuation Pty Ltd and Resolution Life Australasia Limited.
The AMP announcement said the proceeding relates to allegations of higher premium payments by certain members of AMP’s superannuation funds for life insurance (death only cover, total and permanent disablement cover and income protection cover) during the period 2019 to 2024.
AMP said that N.M. Super and AMP Superannuation Limited will be defending the proceedings.
Besides AI has made these "Research Houses" obsolete. Go use Grok or Gemini.
Only took six months
No way would I pay for the rubbish that comes out of so called rating and research houses. Paying someone…
And people wonder why advisers are leaving the industry (or just getting out of providing any form of personal advice…
All I want to know is how much more will the Adviser sector have to pay?