Clayton Utz has provided ob体育 with its internal file notes from the firm鈥檚 interviews with current and former employees and officers of AMP, who were interviewed by Clayton Utz in connection with its report to AMP in October 2017 regarding fees for no service. The Clayton Utz report was considered in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry in April 2018.
ob体育 commenced Federal Court proceedings against AMP and Clayton Utz in December 2018 (18-379MR), seeking an order compelling Clayton Utz to produce the interview notes. The interview notes had been withheld from ob体育 by AMP, who claimed that they were subject to legal professional privilege (LPP). ob体育 disputed the claim of LPP.
The interview notes were responsive to a compulsory notice to produce issued by ob体育 under s 33 of the ob体育 Act in October 2018 and relate to ob体育鈥檚 ongoing investigation into AMP Group for fees for no service conduct and related false or misleading statements to ob体育.
On 7 March 2019, the day AMP and Clayton Utz were due to file their evidence in the proceedings, Clayton Utz produced the documents sought by ob体育 with no claim of LPP by AMP. AMP agreed to pay ob体育鈥檚 costs and the proceedings were on 8 March 2019.
鈥榦b体育 is determined to take enforcement action against the major banks and financial service providers and to use all legal powers necessary to investigate the significant issue of fees for no service,鈥� ob体育 Deputy Chair Daniel Crennan QC said.
鈥楨ntities should take seriously their obligations under statutory notices issued by ob体育, including producing documents in accordance with the specified timeframe and not preventing the disclosure of documents to ob体育 by making inappropriate LPP claims. These interruptions delay and frustrate ob体育鈥檚 proper investigation.
鈥榦b体育 is pleased that the documents have now been produced but is disappointed that the matter was not resolved sooner,鈥� concluded Mr Crennan.
Background
ob体育 has compulsory information-gathering powers which require entities (and individuals) to produce documents ob体育 considers to be relevant to an investigation. These powers are an important and necessary part of ob体育鈥檚 work in investigating and taking enforcement action in respect of potential misconduct.
ob体育 recognises that some documents it requests entities to produce may attract a valid claim to LPP.聽 In such circumstances, ob体育 expects entities to provide appropriate details to substantiate the basis of any LPP claim.聽 Where ob体育 considers that a document has been withheld from production on the basis of an inappropriate LPP claim, ob体育 will take court action to resolve the matter.