AMP Ltd (AMP.AX)
22 Oct 2018
SYDNEY Some of the largest insurers in Australia, including the local units of multinationals, may have broken laws - some of which carry criminal penalties - a government-backed inquiry into financial sector conduct heard on Friday.
* Laws possibly broken carry criminal penalties, inquiry hears
* It instead refunds funds when policies are accepted and paid
* Lawsuit planned for excessive fees and paying below-market rates
* S&P Global lowers AMP Life rating to A+, group outlook negative
SYDNEY Australia's biggest listed wealth manager AMP hired a veteran Credit Suisse Group banker as its new CEO, tasking him with using his experience of handling regulatory crises to mend a reputation battered by misconduct allegations.
* De Ferrari experienced in dealing with regulatory crises -Murray
Aug 22 Australian wealth manager AMP Ltd on Wednesday appointed Francesco De Ferrari as its chief executive officer, taking over from interim Chief Executive Mike Wilkins.
SYDNEY Australia's No.1 retirement and wealth management company AMP Ltd paid hundreds of millions of dollars from customers' retirement accounts to its subsidiaries without proper documentation, an inquiry heard on Thursday.
* Cash investments put in risky credit instruments rated 'BBB-'