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Australia: AMP hit with two lawsuits in the same week, and more daily news

AMP in Australia has been served with its second lawsuit in a week. The latest lawsuit is a result of advice being provided on life insurance products while the first is related to AMP’s ‘buyer of last resort’ policy.

“AMP has revealed that it has been served with a class action lawsuit regarding advice it provided for certain life and other insurance products, according to Reuters. This is the second lawsuit it has faced this week.

The first lawsuit involves financial advisers who have filed a class action against the Australian firm on changes to its ‘buyer of last resort’ policy.”

AMP has said that AMP Financial Planning Pty Ltd and Hillross Financial Services Ltd would work to defend the proceedings.

“The company stated that its units AMP Financial Planning Pty Ltd and Hillross Financial Services Ltd would defend the proceedings.” Click here to read more

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