AMP in Australia and the Royal Commission

06 August 2018

AMP in Australia and the Royal Commission

AMP Australia has apologised unreservedly for the misconduct and failures in regulatory disclosures in its advice business and the AMP Board has announced actions to accelerate the necessary change within the Australian business. You can read more here.

AMP in New Zealand
AMP in New Zealand operates differently to AMP in Australia.

First, products are offered by locally incorporated entities with separate local Boards and Directors that govern our New Zealand business. The issuer and manager of the New Zealand investment products is licensed by the Financial Markets Authority.

Funds invested in AMP New Zealand superannuation and managed investment products are held on behalf of investors by an independent Supervisor licensed and overseen by the Financial Markets Authority, and that Supervisor provides oversight of the Manager who must act in the best interests of members. In addition to this, our life insurance business is regulated by the Reserve Bank of New Zealand.

Much of the complexity that has given rise to some of the issues being investigated by the Australian Royal Commission do not exist in New Zealand.

You’re in safe hands
If you have an insurance policy or investment product with us, nothing has changed. We’re ready to help if you need to make a claim and your investments, including KiwiSaver, are not affected.

We’re here to help
Providing valued and high-quality advice and looking after your financial wellbeing is at the heart of what we do, and that’s what we continue to be focused on every day.

If you have further questions, you’ll find our contact details here.

Important information

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The information included in this article is of a general nature and is not a substitute for financial or other professional advice. To the extent that the information constitutes advice, it is class advice only. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. For personal financial advice, we recommend you contact your Adviser or if you don't have an Adviser, contact us on 0800 267 263 and we can put you in touch with one. 

A disclosure statement is available from your Adviser, on request and free of charge.