Our submission focuses on maintaining and enhancing critical consumer protections, including:
- Retention of existing protections for customers, including the diligent and prudent banker obligation for individuals
- Implementation of key recommendations from the 2021 Independent Code Review that achieves the intended objectives
- Protection of our ability to operate independently and effectively.
We believe that it is essential for the new Code to retain important obligations for customer protections and that the obligations are clear for bank staff, customers and customer representatives.
We look forward to the outcome of ASIC’s consultation.