ASIC is currently conduction an investigation into the AMP Group for fees for service conduct and related false or misleading statements to ASIC.
ASIC alleges that customers were charged ongoing fees without being provided the service which they were paying for.
In October, ASIC issued a notice to AMP’s legal firm Clayton Utz to produce certain documents which the company has declined to do on the basis they are subject to a claim of legal professional privilege by AMP Limited.
ASIC is seeking a declaration from the Federal Court that the documents are not subject to privilege or that privilege has been waived by AMP.
It is also requiring Clayton Utz to produce the documents and ancillary orders.
The case will not be heard by the Federal Court until February 2019.
