The corporate cop has blasted AMP for a decade of sloppy work, misconduct and misleading its officers, in correspondence in which it advised the wealth giant criminal charges for its fee-for-no-service conduct would not be laid.

The Australian Securities and Investments Commission began the action against AMP in 2020 after a high-profile case study revealed the company had a practice of charging customers for advice they could not receive at the Hayne Royal Commission.