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The former adviser has been banned from practising after allegedly withdrawing more than $1.95 million from clients.

The royal commission also hears that AMP charges companies that want their funds on AMP’s investment platforms a $25,000 a month administration fee.

Treasurer Scott Morrison says revelations that AMP lied to the corporate regulator are "deeply disturbing," warning that such behaviour can lead to jail time.

Shocking revelations of dishonesty and misconduct at the banking royal commission have sparked calls for tighter regulation.

Senior members of AMP repeatedly intervened in an "independent" report into its fee for no service scandal, the royal commission heard.

• OPINION

The cynical behaviour on show at the royal commission underlines the need for changes to enforcement.

• ANALYSIS

Monday's revelations by AMP before the Royal Commission are likely to have lasting ramifications for the company and its shareholders

The spin-off will leave CBA a much leaner, more focused business.

Cultural issues within AMP had caused senior staff to ignore legal advice and concerns, executive tells royal commission.

The Brisbane-based bank will sell its life business, St Andrew's Insurance, to listed group Freedom Insurance for $65 million.

Australian banks are being urged to publicly report on how much their customers trust them.

AMP lurched from bad to worse at the royal commission on Monday with its executive apologising but was unable to say for what.

AMP, NAB and Westpac have made payments that breached a ban on wealth management businesses from paying kickbacks to advisers, the royal commission heard.

• OPINION

It's clear Australia's banking industry is beset by poor financial incentives which produce unacceptable outcomes for customers, writes Jessica Irvine.

• OPINION

The threat to banks from tech giants looks more like a smokescreen than a pressing issue.

Wealth management behemoth AMP will join each of the big four banks under the microscope in the second round of hearings from the royal commission.

The man who blew the whistle on money laundering by Mexican drug cartels says people should be protected and compensated for speaking out.

Michael Chaney has seen up close the pressure put on banks to chase profits at all costs.

CBA will pay $3 million and overhaul its internal processes in its financial advice business after it charged customers for services they did not receive.

How NAB's Mike Baird is navigating the politically and financially sensitive job of managing the NAB’s exposure to the energy sector.

• OPINION

Yes, you love them, but that doesn’t mean you should throw your hard-earned money at their feet.

Banks are already applying greater scrutiny to the living expenses declared by customers in loan applications.

Rapid growth in renewable energy investment has propelled the sector to a "tipping point," former NSW premier Mike Baird says.

• OPINION

It was a rich ride for ticket clippers while it lasted. But now the banks are belatedly facing up to reality.

Financial companies could find it much easier to do business in China as soon as the middle of this year.

• OPINION

How the bank was robbed from the inside.

NAB chief says the bank is the real victim in an alleged multi-million dollar corporate fraud.

• ANALYSIS

Two shareholder class actions against the Commonwealth Bank compete for compensation spoils

United States pension funds controlling almost half a trillion US dollars in assets are backing a new planned class action against the Commonwealth Bank.