Australian and New Zealand market by 2013. In February 2022, AMP delisted from the NZX, consolidating its listing on the Australian Securities Exchange. Royal commission (2018) On 20 April 2018 Craig Meller resigned as CEO after it was revealed in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry that AMP charged clients for financial advice which was not provided, and misled the Australian Securities & Investments Commission on numerous occasions. More than $1 billion in market value was stripped from AMP shares as news of the company's failings were revealed before the Royal Commission. In the wake of revelations at the banking royal commission and his resignation from AMP, Meller resigned as a financial services adviser to the Turnbull government. On 30 April 2018, Catherine Brenner resigned as chairperson with Mike Wilkins appointed acting CEO and chairperson. On 8 May 2018, directors Vanessa Wallace and Holly Kramer announced they would not be seeking re-election, in response to an imminent protest vote organised by the shareholders in the aftermath of the Banking Royal Commission. Patty Akopiantz also announced she would be resigning at the end of the year. In November 2018, AMP admitted to a second overcharging scandal. In 2019, CEO Francesco De Ferrari launched a billion dollar transformation plan, aiming to recalibrate public opinion on AMP post royal commission. In July 2021, the Australian Securities & Investments Commission launched a case against AMP in the Federal Court, seeking pecuniary penalties and orders to publish an apology over the 'fee for no service' scandal, where the company would deduct a fee from client's accounts without performing a service. In September 2022, AMP was fined $14.6 million by the Federal Court. AMP had, as of August 2022, paid back $627 million to 331,994 customers affected by the scandal. See also AMP Building, for a list of buildings used by AMP Limited AMP Capital References External links Financial services companies established in 1849 Companies listed on the Australian Securities Exchange Financial services companies based in Sydney Insurance companies of Australia Australian companies established in 1849 1998 initial public offerings