You have it wrong. The problem was about fees for service not people losing money through investment advice.
The fee for service problem was the inability of advisers to prove exactly what services were provided going back to 2010.
The legal action is most likely going to be about AMP acting outside both the intent and strict legal terms of the contract. It is not a case of advisers not being able to understand a contract. This type of misinformation has been spread by AMP as it suited them.
I am not an adviser. I have not been impacted in any by AMP doing this. Other than as a shareholder where I believe their penny pinching approach to avoid a legal obligation has cost them more than honouring it would have. both lost relationships and future legal plus settlement costs The legal action will determine how right I am.
The REAL AMP website, page-26
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