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AMP to pay $29m in class action
Financial Standard
|January 27, 2026
AMP has settled a class action brought by Shine Lawyers in 2020, which claimed the firm's financial advisers breached their fiduciary and statutory duties to an estimated 100,000 clients.
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The AMP commissions and insurance class action was commenced in the Federal Court of Victoria against AMP Financial Planning (AMPFP), Charter Financial Planning (Charter), Hillross Financial Services (Hillross), AMP and Resolution Life Australasia (formerly AMP Life) in 2020.
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