About the Review
The Customer Owned Banking Code of Practice (‘the Code’) is the Customer Owned Banking Association’s (‘COBA’) cornerstone statement of its members (Australia’s credit unions, mutual banks and building societies) obligations to customers on standards of practice and principles of conduct for their banking services. The Code applies to personal and small business bank customers.
The Code requires an independent a review to be undertaken every five years. The Code was last reviewed in January 2014.
Terms of Reference
The terms of reference set out by the Customer Owned Banking Association (‘COBA’) for the review of their Code of Practice (‘the Code’) can be found here.
About the Independent Reviewer
Phil Khoury is the principal of cameron. ralph. khoury. He is a former financial services regulator (ex-ASIC) and for the past 19 years, has been a consultant working in governance effectiveness and in regulatory and self-regulatory advice. Phil has conducted numerous independent reviews of external disputes resolutions services, voluntary codes of conduct and disciplinary bodies including in the financial sector, in telecommunications, energy and water and in international aid. In 2017 Phil completed a review of the Code of Banking Practice for the Australian Bankers’ Association.
Support
The review team will include senior consultants Debra Russell and Angus Wilson from cameron. ralph. khoury. – both highly experienced in financial sector regulation.