AMP denies criminal offending

AMP has released its submission to Australia's Royal Commission considering misconduct in the banking sector.

It said it admitted failings but disagreed with a finding by lawyers helping the inquiry that it had broken any laws.

The report, by law firm Clayton Utz, considered the issue of "fee for no service" but evidence was given to the Royal Commission that senior AMP executives modified the report before they gave it to ASIC>

The commission heard they wanted to limit the extent of the report's findings on the involvement of executives in misappropriating customer fees.