AMP announces that a class action proceeding has been filed against AMP Financial Planning Pty Limited (AMPFP) in the Federal Court in Melbourne. The proceeding is brought on behalf of certain financial advisers who are or have been authorised by AMPFP.

The claim relates to changes made by AMPFP to its Buyer of Last Resort policy in 2019.

AMPFP is confident in the actions it took in 2019 and will defend the proceeding accordingly.