May 4 (Reuters) - AMP Ltd AMP.AX :
* AMP SUBMISSION TO ROYAL COMMISSION
* "WE HAVE TAKEN RESPONSIBILITY FOR ISSUES AND CONTINUE TO TAKE EXTENSIVE ACTION TO FIX THEM"
* REAFFIRMS & REITERATES OUR UNRESERVED APOLOGY FOR FAILINGS IN RESPECT OF ADVICE AND SERVICE DELIVERY TO OUR CUSTOMERS
* LODGED A SUBMISSION ADDRESSING EVIDENCE RECEIVED BY ROYAL COMMISSION IN ITS HEARINGS INTO FINANCIAL ADVICE IN RELATION TO FEES FOR NO SERVICE
* AMP ACCEPTS FURTHER BOARD RENEWAL IS NECESSARY AND IS COMMITTED TO A MEASURED PROGRAM OF CHANGE
* FEES FOR NO SERVICE ISSUES RAISED IN ROYAL COMMISSION HAVE BEEN SUBJECT OF ONGOING ASIC INVESTIGATION SINCE 2015
* TO DATE, FOR BROADER LICENSEE FEES FOR NO SERVICE ISSUE, WE HAVE REMEDIATED 15,712 CUSTOMERS, A TOTAL OF $4.7 MILLION
* COMMITTED TO FASTRACKING SELECTION OF A CHAIRMAN AND APPOINTMENT OF A NEW NON- EXECUTIVE DIRECTOR
* "ACKNOWLEDGES PROCESS HAS BEEN TOO SLOW AND IS COMMITTING ADDITIONAL RESOURCES AND EXPLORING NEW WAYS TO ACCELERATE THIS PROCESS"
* "DENIES ALLEGATION BY COUNSEL ASSISTING THAT IT IS OPEN TO FIND THAT AMP HAS COMMITTED A CRIMINAL OFFENCE IN PROVIDING CLAYTON UTZ REPORT TO ASIC"
* WORKPLACE INVESTIGATION COMMISSIONED BY BOARD REMAINS ONGOING & WILL BE USED TO DETERMINE ANY DISCIPLINARY CONSEQUENCES FOR INDIVIDUALS INVOLVED