RC: AMP should face criminal prosecution

Friday 27 April 2018

Gettin’ ugly now:

The royal commission into banking misconduct has recommended AMP should face criminal prosecution for misleading the corporate regulator.

Senior counsel assisting Rowena Orr, QC, said AMP had breached criminal provisions for misleading the Australian Securities and Investments Commission over its charging clients fees for no service.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.