Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v AMP Superannuation Limited [2023] FCA 488 File number(s): VID 280 of 2021
Judgment of: HESPE J
Date of judgment: 19 May 2023
Catchwords: CORPORATIONS – financial services – where the defendants deducted and retained life insurance premiums and advice fees from the superannuation accounts of deceased customers – where the defendants admitted contravening the relevant legislative provisions – declarations of contravention – imposition of pecuniary penalties – consideration of appropriate penalty to be imposed for contraventions of ss 12CB(1) and 12DI(3) of the Australian Securities and Investments Commission Act 2001 (Cth)
Legislation: Australian Securities and Investments Commission Act 2001 (Cth) ss 12CB, 12DI, 12GBB, 12GLB Corporations Act 2001 (Cth) ss 761A, 912A, 912D Federal Court of Australia Act 1976 (Cth) s 21
Cases cited: Australian Building and Construction Commissioner v Construction, Forestry, Mining and Energy Union [2017] FCAFC 113; (2017) 254 FCR 68 Australian Building and Construction Commissioner v Pattinson [2022] HCA 13 Australian Competition and Consumer Commission v Cement Australia Pty Ltd [2017] FCAFC 159; (2017) 258 FCR 312 Australian Competition and Consumer Commission v Coles Supermarkets Australia Pty Ltd [2015] FCA 330; (2015) 327 ALR 540 Australian Competition and Consumer Commission v Energy Australia Pty Ltd [2014] FCA 336; (2014) 234 FCR 343 Australian Competition and Consumer Commission v Hillside (Australia New Media) Pty Ltd (No 2) [2016] FCA 698 Australian Competition and Consumer Commission v Reckitt Benckiser (Australia) Pty Ltd [2016] FCAFC 181; (2016) 340 ALR 25 Australian Competition and Consumer Commission v Australian Safeway Stores Pty Ltd [1997] FCA 450; (1997) 145 ALR 36 Australian Competition and Consumer Commission v Trivago N.V. (No 2) [2022] FCA 417 Australian Securities and Investments Commission v AMP Financial Planning Pty Ltd [2020] FCA 69 Australian Securities and Investments Commission v AMP Financial Planning [2022] FCA 1115 Australian Securities and Investments Commission v Kobelt [2019] HCA 18; (2019) 267 CLR 1 Trade Practices Commission v CSR Ltd [1990] FCA 762; [1991] ATPR ¶41-076
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