2.3K views · 30 shares | Shares in scandal-plagued AMP have soared today with the shock news the disgraced wealth manager is on the verge of a buyout. With billions in Australian super, AMP is now being targeted by a US giant. More: 7news.link/3eaoOBh #AMP #7NEWS | 7NEWS Sydney | Facebook

AMP has been fined $24 million for charging dead clients for insurance and financial advice. The corporate regulator ASIC sued AMP in 2021, alleging the company did not stop charging fees even when it had been notified of the customers' deaths. The allegations first came to light when a Royal Commission exposed systemic wrongdoing at the company. The revelations led to the departure of AMP's chairman and CEO. The fine represents about 13 percent of the company's profit last year. 7NEWS at 6pm. M