No action from ASIC
THE corporate watchdog will take no action against former AMP chair Catherine Brenner over the fees-for-no-service scandal that erupted in the financial services royal commission.
Ms Brenner has revealed she received a “no action letter” from the Australian Securities and Investments Commission yesterday.
“I was always confident that anyone in my position would have conducted themselves in the same way I did,” she said.
“But it’s particularly pleasing to have had that confirmed today.” Ms Brenner resigned in April 2018, three days after senior counsel assisting Rowena Orr told commissioner Ken Hayne the evidence showed AMP had no respect for compliance, and showed a willingness by executives and directors to deal with ASIC in a manner that could be seen as a deliberate attempt to mislead.
Ms Brenner also stepped down as a director of Boral and Coca-Cola Amatil after giving up the AMP chair.