AMP releases royal commission damage control plan; warns investors to lower profit expectations

AMP has announced lower profit expectations to the market, and released its royal commission damage control plan. 

The wealth manager will put aside $290 million for its first half profit to compensate customers charged for services they did not receive. 

ABC's Peter Ryan says AMP faces more scrutiny from the Royal Commission and that senior counsel assisting Rowena Orr QC has previously claimed the company may have engaged in criminal activity.

Here's my report from The World Today