AMP handed $9.7 mln penalty for charging pensioners 'fees for no service'

Sept 20 (Reuters) – Wealth manager AMP Ltd (AMP.AX) was handed a penalty of A$14.5 million ($9.74 million) on Tuesday by Australia’s Federal court for charging customers with ‘fees for no service’ on their corporate pension accounts. The Australian Securities and Investment Commission (ASIC) had …

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