AMP announces that a class action proceeding has been filed against AMP Financial Planning Pty Limited (AMPFP) and Hillross Financial Services Limited (Hillross) in the Federal Court in Victoria.

The proceeding relates to advice provided by some aligned financial advisers in respect of certain life and other insurance products.

AMPFP and Hillross are committed to complying with their obligations relating to ensuring their advisers act in the best interests of clients and take these obligations seriously.

AMPFP and Hillross will defend the proceedings.

The proceedings are also commenced against AMP Life Limited.