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Showing 1 - 10 of 41 results for "BOLR"

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2024
The litigation funder of the AMP Buyer of Last Resort (BOLR) class action is negotiating its cut of the settlement money and could take home as much as $43 million. A notice of proposed settlement from the Federal Court shows the funder, Augusta Pool ...

AMP reports boost in IFA flows, mulls advice unit options

KARREN VERGARA  |  WEDNESDAY, 14 FEB 2024
... million, about a 31% improvement on the prior corresponding period. The six months saw AMP settle the Buyer of Last Resort (BOLR) and breaches of continuous disclosure obligations actions - both of which it did not admit liability to. AMP chief executive ...

What you read in 2023

JAMIE WILLIAMSON  |  FRIDAY, 15 DEC 2023
... leadership group to continue to take those businesses forward," AMP chief executive Alexis George said at the time. 10) AMP loses BOLR changes class action (July 5) The Federal Court ruled in favour of the AMP Financial Planning advisers who saw the ...

AMP selects new chief technology officer

CHLOE WALKER  |  WEDNESDAY, 29 NOV 2023
... said. Last week, AMP reached a settlement with AMP Financial Planning advisers in the long-running Buyer of Last Resort (BOLR) class action. The wealth manager will pay $100 million - an amount double what it initially provisioned. "This is an important ...

AMP to pay $100m to settle BOLR class action

JAMIE WILLIAMSON  |  THURSDAY, 23 NOV 2023
AMP will pay $100 million to settle the long-running Buyer of Last Resort (BOLR) class action - an amount double what it initially provisioned. The wealth manager announced this morning it has reached a settlement with AMP Financial Planning advisers ...

AMP challenges BOLR court ruling

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
AMP is appealing the Federal Court's Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%. AMP filed a Notice of Appeal in the Federal Court yesterday ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... earmarked $50 million in response to a Federal Court decision regarding its contentious adjustment to Buyer of Last Resort (BOLR) terms. Its changes caused a marked reduction in the practice valuations of AMP Financial Planning advisers. In an ASX announcement ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... of the year." In July 2023, the Federal Court ruled against AMP over its controversial change to the Buyer of Last Resort (BOLR) rules, backing AMP Financial Planning advisers who protested against the decline in their business valuations from 4x to ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... who saw the value of their practices deteriorate after the parent company controversially changed its Buyer of Last Resort (BOLR) rules. In handing down its decision, the Federal Court found in favour of authorised representatives of AMP Financial Planning ...

QSuper head moves to AMP

ANNABELLE DICKSON  |  MONDAY, 9 AUG 2021
... and the business," she said. The appointment comes after AMP announced it is putting an end to all Buyer of Last Resort (BOLR) arrangements and has created a new service model for its aligned network.
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