In concluding the second round of hearings on Friday, counsel assisting the royal commission Rowena Orr QC advised Commissioner Ken Hayne that evidence provided in recent weeks indicates AMP contravened both the Corporations Act and ASIC Act with breaches that may incur criminal penalties.
In response, the financial services giant has issued a statement acknowledging Ms Orr’s concluding remarks.
“AMP acknowledges the seriousness of the closing submissions made by Counsel Assisting the Royal Commission today,” the statement said.
“We are reviewing those submissions closely and will respond fully next week.
“The Commissioner will have AMP’s submissions in relation to these matters before making any findings.”
Wonder why they don’t do as the Unions did after their Royal Comm, and simply ignore it all? Nothing eventuated from their clear breaches and identified criminal activity
Fully expecting criminal charges to be laid against Kell & Medcraft and ASIC for misleading all and sundry regarding a wide wide range of allegations, reports and falsified information they have transgressed with
Its fine AMP making the broad “we acknowledge” comments. But who have they really done over? The people who have invested with them and invested via one of their advisers.
Stuff this corporate posturing. Posturing that means absolutely nothing given their history.
AMP should already have written to every one of their investors and everyone of their adviser’s ( what a misnomer ) clients ( another misnomer ) and unreservedly apologised and accepting that they have lied, cheated, broken the law and that their advisers have worked only for their own pockets, that AMP has only worked for their executives bonuses and that the shareholder has come before integrity and service.
Not sure the shareholders have fared all that well mate. That just leaves one group (from the two you mentioned) who have prospered.