Aussie finance scandal offers universal truths

Australian financial advisory company AMP said on Sept. 2 that it was putting all its assets under review, following"an increase in interest and inquiries.”

AMP Chairman David Murray and board director John Fraser both resigned on Aug. 24 following a shareholder backlash against the promotion of an executive, Boe Pahari, to run the AMP Capital division. Pahari stepped down from the role. The controversy erupted after it was discovered that AMP had previously punished Pahari for treating a female colleague inappropriately.

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