CP 373 Proposed changes to the Banking Code of Practice
Released 17 November 2023. Comments closed 15 January 2024.
This consultation paper seeks interested parties' views on proposed changes to the Australian Banking Association’s Banking Code of Practice (Code) in response to an independent review of the Code in 2021.
In particular, we are seeking feedback to assist us in considering whether ASIC should approve the proposed Code under Pt 7.12, Div 2, Subdiv A of the Corporations Act or Pt 5-5, Div 1A, Subdiv A of the National Credit Act.
Download
- CP 373 (PDF 541 KB)
- Attachment 1 to CP 373: Comparison of current Code and proposed Code provisions (PDF 874 KB)
- Attachment 2 to CP 373: Proposed ABA Banking Code of Practice (PDF 1 MB)
- Attachment 3 to CP 373: Proposed Banking Code Compliance Committee Charter (PDF 788 KB)
- Attachment 4 to CP 373: Proposed Customer Guide (Banking with confidence: Your key rights and protections as a customer) (PDF 656 KB)
Submissions
ASIC received 16 submissions to CP 373. Below are the non-confidential submissions from entities.
(non-confidential submissions)
- Australian Banking Association (PDF 284 KB)
- Australian Financial Complaints Authority (PDF 240 KB)
- Australian Retail Credit Association (PDF 211 KB)
- Australian Small Business and Family Enterprise Ombudsman (PDF 236 KB)
- Banking Code Compliance Committee (PDF 332 KB)
- Bendigo and Adelaide Bank (PDF 132 KB)
- Consumer group joint submission (PDF 2.3 MB)
- Council Of Small Business Organisations Australia (PDF 182 KB)
- Individual submission 1 (PDF 90 KB)
- Individual submission 2 (PDF 766 KB)
- King & Wood Mallesons (PDF 153 KB)
- Law Council of Australia (PDF 1.6 MB)
- Mortgage & Finance Association of Australia (PDF 188 KB)
- Small Business Development Corporation (PDF 3.2 MB)
- Westpac Group (PDF 77 KB)