Mr Mavrakis then asks Mr Salter to advise if he had any further comments "so that we can finalise the report". A copy of a draft report in the released documents shows a sentence describing how a document about issues with customers being billed for no service was set to be "widely distributed" among executives. That reference was suggested for removal in the editing process. The documents show that Ms Brenner commissioned the report from Clayton Utz on the basis that "this investigation will be entirely independent of the business and is commissioned exclusively by the board through me and the chief executive". David Murray will join the board as chairman after the company's AGM next week. Credit:Karen Maley In its submission to the royal commission, released on Friday morning, AMP "strenuously" denied last week's allegation by counsel assisting the banking royal commission that it may have committed a criminal offence when it provided the Clayton Utz report to the corporate regulator on the understanding it was "independent".

Ms Brenner resigned days after chief executive Craig Meller also left the company following revelations at the Hayne royal commission that AMP had repeatedly misled the regulator and accusations it had doctored the Clayton Utz report. Included in the documents released late on Friday by the royal commission was a scathing letter from the Australian Securities and Investments Commission (ASIC) to Mr Salter that excoriated the company for its conduct relating to ASIC’s investigation. ASIC said AMP had “frustrated and materially delayed the investigation of AMP’s conduct since its inception". Former AMP chief executive Craig Meller and former chairman Catherine Brenner. Looking to reclaim the initiative, AMP on Friday said former Commonwealth bank chief executive David Murray would join the board as its new chairman after its annual general meeting next week. Acting executive chairman Mike Wilkins, who stepped into the role following Ms Brenner's departure, will return to the role of acting chief executive.

In its submission to the royal commission, AMP argued the matter of the Clayton Utz report should be left in the hands of ASIC, rather than being dealt with in criminal proceedings. AMP was last week recommended for criminal charges for allegedly misleading ASIC by presenting the Clayton Utz report as independent, despite making the law firm change the report 25 times. Loading But in its submission, AMP said there was "no evidence to suggest that the board, including the former chairman and former chief executive, acted inappropriately in relation to the preparation of the report". "AMP fully expects ASIC will deal with the serious matters being investigated in an appropriate manner consistent with ASIC’s enforcement priorities and under a proper process with any affected parties having had the opportunity to be heard," AMP said.

As well as Ms Brenner and Mr Meller, Mr Salter has also left AMP. The royal commission heard the report went through 25 drafts, with hundreds of emails exchanged with Clayton Utz, before being submitted to ASIC as independent. Counsel assisting the commission Rowena Orr QC said last week that, in doing so, AMP may have breached provisions of the Corporations Act that carry criminal sanctions. But AMP refuted assertions that it had committed a criminal offence when it provided the altered report to the regulator. "AMP strenuously denies the allegation by Counsel Assisting that it is open to find that it has committed a criminal offence in providing to ASIC in October 2017 a report prepared by Clayton Utz," AMP said in its submission.

Loading Replay Replay video Play video Play video That claim has been backed up by Clayton Utz, which issued a statement saying its investigation into the AMP advice business was "at the instruction of the AMP board, and the firm stood by the report's robust findings". 'Disappointing': Clayton Utz Rob Cutler, Clayton Utz's chief executive partner, said in the statement that: "It is disappointing that it has been mis-reported that Clayton Utz was in some way involved in misleading ASIC. That is simply not true. "The report we prepared was for the AMP board and was the result of an extensive investigation which in fact identified much of the conduct referred to by the [royal] commission. At no stage were the findings compromised by AMP or any other person.

“The investigation was undertaken according to the terms of reference set by AMP. This included that it was to be independent of the advice business and for the purpose of providing legal advice to the AMP board." AMP accepts it repeatedly lied to the corporate regulator, though not as many times as it has been accused of, and admits it was slow in compensating clients who were charged fees without having received advice. Shareholder ire AMP face shareholders in Melbourne on Thursday at its annual general meeting. The Australian Council of Superannuation Investors, which represents Australia's largest superannuation funds, has said it is opposed to the re-election of three of the company's directors - Holly Kramer, Vanessa Wallace and Andrew Harmos at the AGM.