The Australian Securities and Investments Commission (ASIC) has opened consultation on the Australian Banking Association’s (ABA) proposed changes to its Banking Code of Practice. This is the first time ASIC is undertaking a public consultation since approving the code in 2019. ASIC is seeking to ensure that the code continues to provide real benefits to stakeholders, namely, consumers, small businesses and subscribing banks.
Members of the public and interested parties are invited to review the proposed Code, the proposed changes to the Banking Code Compliance Committee Charter, and a new customer-facing document, which serves as a Customer Guide: Banking with confidence: your key rights and protections as a customer.
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