yes, this is a pretty fair statement of what I have heard are the facts around what will form the basis of legal action and why amp is going to have to pay up to many advisers. There are both individual actions plus the class action.
For those who don’t want to read, in short, the small business ombudsman thinks AMP has used audits to unfairly lower payments to advisers, that amp used new previously not disclosed and not required rules to fail them, and that amp provided client bases including clients that had no value - charging the adviser - but then valued them at zero in buy back.
Adviser Class action & realamp web site, page-781
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