AMP chair Catherine Brenner has resigned, becoming the third company executive to exit over revelations AMP charged customers fees for unperformed services.

The company's board held an emergency meeting on Sunday, amid speculation that Brenner would step down.  It released a statement saying Brenner and Meller "did not act inappropriately".  AMP General Counsel Brian Salter is also leaving, and former chief executive Craig Meller resigned earlier this month.  AMP will also strip directors of 25 percent of their fees for the rest of the year, and there still may be "employment and remuneration consequences" for those staff directly involved in charging fees for no services. 

Prime Minister Malcolm Turnbull said it was the right thing to do:  "They have got to take responsibility for what has gone on and make the appropriate steps," he said, "In some cases that has involved people stepping down or retiring or resigning."

AMP was grilled for two days at the royal commission, which determined the company had misled the corporate watchdog ASIC 20 times in two years.