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Review Scope

A focused review with practical, public-interest objectives.

Purpose

Test whether the BCCC remains fit for purpose.

The review is intended to assess the BCCC’s performance against its role under the Banking Code and Charter and identify opportunities to strengthen public assurance.

It will consider the needs of customers, the banking industry and the wider regulatory environment.

Objectives

Five practical objectives will guide the work.

Clarify the BCCC's future role and powers
Test the effectiveness of monitoring and enforcement
Assess capability, data, systems and resourcing
Listen to stakeholders and improve accessibility
Recommend practical improvements and measures of progress

Scope

The review will look across governance, operations and impact.

  • role, functions, powers and sanctions
  • monitoring, inquiries, investigations and reporting
  • governance, independence and accountability
  • resources, operating capability, systems and data
  • stakeholder relationships and public accessibility
  • outcomes for individual, small business and agribusiness customers

Guiding Principles

Independent, fair, evidence-based and transparent.

The review approach should reflect the principles that guide the BCCC itself: transparency, accountability, integrity, impartiality, fairness, independence and effectiveness.

Consultation should be accessible, proportionate and focused on issues where independent Code oversight can make a meaningful difference.

What Is Outside Scope

The review is separate from individual disputes and the Banking Code review.

The review will not determine individual complaints about a bank. Those matters should continue through the bank complaints process and, where appropriate, the Australian Financial Complaints Authority.

It will also remain distinct from the ABA review of the Banking Code, while coordinating overlapping issues where useful.

News & Updates

Latest BCCC Review News