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Australia’s AMP handed $9.7 million penalty for fee-related breaches

Australia’s AMP handed $9.7 million penalty for fee-related breaches

[html](Reuters) – Wealth manager AMP Ltd said on Tuesday it was handed a A$14.5 million ($9.74 million) penalty by the Federal court…
                              

(Reuters) –     Wealth manager AMP 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)



(Reporting by Harish Sridharan in Bengaluru; Editing by Dhanya Ann Thoppil)

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Source: Australia’s AMP handed $9.7 million penalty for fee-related breaches (http://ht**://www.oann.c**/australias-amp-handed-9-7/)