Wealth manager IOOF Holdings'managing director and chairman have stepped aside following moves by the prudential regulator to disqualify them from managing superannuation funds
The chief executive Freedom Insurance Group has resigned a few months after giving evidence to the banking Royal Commission about its cold-calling life insurance sales tactics.
Shareholders are pleading the ASX to intervene and make the company let them vote on the controversial sale of its life insurance arm.
A deal announcement late last week saw AMP's share price fall as much as 30 per cent,prompting speculation that the company could be a takeover target.
AMP is again in crisis as a growing number of its investors join a revolt against company over its plans to sell parts of its life insurance business.
AMP has made its second presentation within a week on its $3.4 billion deal to sell its legacy businesses after a shareholder called for a board spill.
A noted''zombie hunter,''the UK's Resolution Group,is to acquire AMP's legacy insurance businesses for $3.3 billion in a complicated set of transactions.
Investors have wiped out almost a quarter of AMP's market value after it agreed to sell its life insurance arm and revealed poor performance in wealth management.
Freedom Insurance will suspend selling its products directly to consumers and halve staff numbers in a sweeping restructure that will also result in the departure of two of its most senior executives.
Chopping the head off zombie policies that confer no benefit and redirecting the savings is worth the effort.
After seven rounds of hearings featuring more than 100 witnesses,here's a wrap-up of what's happened so far and what might happen next.