The inquiry into Australia's financial sector has prompted other senior leaders to leave AMP, which manages more than $150 billion in assets. The company's CEO, Craig Meller, quit 10 days ago after damaging revelations about the firm's practices emerged during public hearings by the government-established Royal Commission. On Friday, the commission heard evidence that AMP billed clients for financial advice that it never provided and then attempted to mislead the country's financial regulators over the matter. Related: Australia's top bank says it charged dead clients for adviceFounded almost 170 years ago, AMP is Australia's top wealth manager for retail investors. A Royal Commission is Australia's highest form of public inquiry.

Source: CNN April 30, 2018 08:03 UTC