What AMP did and what happens next

AMP was already in trouble because of the scandals uncovered at the royal commission, and now it is looking for a new CEO.

WHAT DID AMP DO?

* AMP told the financial services royal commission it had been charging clients for advice they never received

* It also admitted lying about it to the Australian Securities and Investment Commission

WHAT WAS THE FALLOUT?

* Chief executive Craig Meller has resigned

* ASIC is investigating AMP

* AMP has had $1.1b wiped off its market value

WHAT HAPPENS NEXT?

* Possible criminal charges

* AMP will make a submission responding to the royal commission

* A new CEO