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AMP firms fined $24 million for charging dead clients’ super accounts

Four AMP Group businesses deducted insurance premiums and advice fees from superannuation customers despite knowing they had died, a judge ruled, with two of the companies – AMP Life and AMP Financial Planning – hit with $24 million in penalties.
Lisa Uhlman | 19th May 2023 | More
CommSec, AUSIEX fined $27 million for violating integrity rules

Commonwealth Bank-owned brokerage platform CommSec and former CBA subsidiary AUSIEX have been hit with $27 million in fines for violating ASIC’s market integrity rules, in the largest-ever penalty handed down for such breaches.
Lisa Uhlman | 28th Oct 2022 | More