The financial advice industry has also come under close scrutiny. The evidence led demonstrated numerous instances where fees were charged for no service, financial advisers gave inappropriate advice and several instances where institutions intentionally tried to mislead the regulator. Following the hearings on this topic, there have been multiple resignations at senior levels of AMP, one of Australia's largest financial institutions, and various plaintiff law firms have confirmed that they have secured funding for shareholder class actions. In the face of criticism that it has been soft on enforcement, ASIC announced after the third round of hearings that it has commenced civil penalty proceedings against Westpac Banking Corporation in relation to alleged poor financial advice provided by one of its former financial planners.