Committee welcomes updated ASIC guidance on handling of complaints and disputes

On 5 October 2021, ASIC’s Regulatory Guide RG 271 Internal Dispute Resolution (RG 271) came into effect.  RG 271 sets new standards and requirements for complaints-handling across the financia...

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Annual Report

Customer Owned Banking Code Compliance Committee releases Annual Report for 2019-20

The independent committee that monitors the Customer Owned Banking Code of Practice (the Code) has released its annual report for a year marked by natural disasters and the COVID-19 pandemic, alo...

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Investigations can be a learning tool

Allegations of a breach of a Code of practice can be a useful learning tool even if a formal investigation finds no Code breach.

This was the outcome of a Code breach allegation recently inves...

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Compliance with privacy obligations follow-up inquiry outcomes

Privacy and data security are among the foremost concerns for consumers and, with recent government moves to update and strengthen privacy laws, it is essential that financial institutions manage...

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