AMP Australia and the Royal Commission

08 May 2018

AMP 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 find out more in the note from AMP Australia’s Executive Chairman and read his address to the recent AMP Annual General Meeting.

AMP in New Zealand is different

AMP New Zealand is proud of our strong track record of integrity and good conduct, and we have an open and transparent relationship with New Zealand regulators (the Financial Markets Authority and Reserve Bank of New Zealand).

We operate differently to Australia and 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 AMP, nothing has changed. We’re ready to help if you need to make a claim and your investments, including KiwiSaver, are not affected.

If you didn’t already know, your investment fund is looked after by an independent Trustee, which is overseen by the FMA. That means your money is kept in a Trust until you need it.

Insurance policies in New Zealand are overseen by the Reserve Bank, which requires funds to be set aside to make sure there is enough to pay any claims.

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.