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Millions wasted, reputations damaged Three years after the royal commission explored the fees-for-no-service scandal, ASIC has dropped the criminal probe into AMP on advice from the DPP. Catherine Brenner says a more pragmatic approach from ASIC could lead to “better outcomes for consumers and the market”.   Peter Braig Updated Save Share Last Friday, as residents of Greater Sydney pondered just how much longer its three-week lockdown needed to drag on, the corporate cop announced a criminal investigation into the conduct of financial services giant AMP had been dropped, with no further action taken. News that AMP was off the hook and would not face criminal charges in relation to charging financial advice fees to customers who didn’t receive any, received little more than a collective shrug from the public, preoccupied with the return of the worst parts of the pandemic.

Eddie jimHerbert smith freehillsJim stackpoolJames shiptonJoseph longoDavid murrayRomesh wijeyeratneBrian salterPeter kellBoe pahariCraig mellerJosh frydenbergCatherine brennerJack reaganEamon gallagherAlex ellinghausen