And some more press on the reports released today...no down the HC campaigners will say they should pay themselves $0 but I think this is a step in the right direction...

https://www.theaustralian.com.au/business/financial-services/amp-scraps-bonuses-after-horror-year/news-story/ba410fb936cb64cc2d63471bc0815358

AMP scraps bonuses after horror year

AMP took a hammering at the Hayne royal commission over fees for no service. Pic: Hollie Adams

• By STUART CONDIE
• AAP
• 20 MINUTES AGO MARCH 20, 2019
• NO COMMENTS

AMP has scrapped short-term bonuses and cut directors’ fees in an effort to avoid a second shareholder strike on remuneration and possible board spill at May’s annual general meeting.

The financial services provider, which suffered a 97 per cent drop in full-year profit as it set aside millions in customer remediation over various issues, also said former chief executive Craig Meller and former advice and banking executive Rob Caprioli will forfeit $10.8 million in unvested incentives.

“This reflects their overall accountability for the ‘fee for no service’ issues that AMP had previously disclosed to ASIC and which were addressed during the financial advice hearing block of the royal commission,” AMP said in its annual report.

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AMP last May suffered a massive “first strike” pay protest by shareholders at its annual meeting. A second strike means shareholders would vote for a possible board spill.

AMP came under heavy criticism at the Hayne royal commission over the fee-for-no-service scandal and allegations prior management misled the regulator numerous times.

The revelations led to the departures of Mr Meller and chair Catherine Brenner, while former advice boss Jack Regan did not return to work following gruelling commission hearings.

AMP yesterday joined rivals including Westpac’s BT in cutting fees for platform customers, and introduced a string of other customer benefits amid intense industry competition.