The Banking Code Compliance Committee (BCCC) has today announced an independent review of its activities to coincide with the review of the Banking Code of Practice.
Mr Phil Khoury, of cameron. ralph. khoury, has been appointed to conduct the review of the BCCC. Mr Khoury and his team have extensive experience with self-regulatory codes across several sectors and is a former independent reviewer of the Banking Code and its compliance committee.
The Terms of Reference for the review are available to view on the BCCC’s website.
Mr Khoury plans to undertake a detailed review of BCCC processes and some targeted stakeholder consultation, before releasing a consultation paper in early September 2021 with submissions requested by mid October. Any stakeholders who wish to provide earlier input in response to the Terms of Reference are welcome to do so by email to [email protected].
Mr Khoury will also engage with the reviewer of the Banking Code to ensure the reviews are coordinated where possible.
Please consult https://bcccreview.crkhoury.com.au for information relating to the review.
The BCCC’s Independent Chairperson, Ian Govey AM, said he welcomes the review and the opportunity to identify how the BCCC can improve its operations.
“The BCCC plays a key role in ensuring banks comply with the commitments they have made to the Australian community. We look forward to the reviewer’s findings and recommendations, which will help us to ensure we hold banks accountable for their conduct and support better banking experiences for customers,” Mr Govey said.
Phil Khoury said, “As a past reviewer of the Code, it is vitally important that stakeholders not only put forward their views about the Code itself, but also how the Code should be monitored for compliance. I am looking forward to engaging with stakeholders.”
The ABA has appointed Mike Callaghan AM PSM to conduct the review of the Banking Code and further information is available on the Code review website – bankingcodereview.com.au.
The BCCC is an independent monitoring body established under the Banking Code of Practice. Its purpose is to monitor and drive best practice Code compliance.
René van de Rijdt
Acting Chief Executive Officer
Banking Code Compliance Committee