AMP won’t be giving analysts privileged access for briefings in future – its agreement last week to fund a $100,000 education program has seen to that. The not-so-giant Australian financial services company agreed to the funding to kill off an Australian Securities and Investments Commission (ASIC) investigation into its alleged failure to meet disclosure obligations in 2001.

AMP has made no admissions and ASIC’s proceedings have been dismissed, but both parties believed that if AMP had been fined it would have been close to $100,000.

ASIC Chairman David Knott says AMP has acknowledged that some of its disclosures in the period between 29 July and 17 September last year should have been done differently. “The new Chairman and CEO of AMP have expressed regret over last year’s events and have accepted that a resolution of the matter is appropriate,” he said.

The training program will involve providing specialised training to company executives and officers to increase awareness of market disclosure and related governance issues.