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Code Compliance publications

The Code Team supports independent Committees to monitor compliance with codes of practice in the Australian financial services industry to achieve service standards people can trust.

The Committees’ publications, including annual compliance reviews, inquiry reports and guidance notes, offer in-depth analysis as well as valuable guidance on code compliance within the banking, customer owned banking, general insurance and insurance broking industries.

2018

Banking

Banking Code Compliance Monitoring Committee Report: Own Motion Inquiry: Breach Reporting

 

Life Code Compliance Committee

Life Code Compliance Committee- Annual Report 2017- 18

 

General Insurance

CGC Report - General insurance in Australia 2016-17
Code Governance Committee releases General insurance in Australia report presenting a snapshot of trends and service standards in the insurance industry.

CGC Report - General insurance in Australia 2016-17

CGC Report - Who is selling insurance?
Code Governance Committee releases Who is selling insurance? report – insights into who is selling add-on general insurance products and recommendations to improve how they are sold. 

CGC Report - Who is selling insurance?
 

Customer Owned Banking

Customer Owned Banking Code Compliance Committee Own Motion Inquiry ‘Privacy’
A review of customer owned banking institutions’ compliance with privacy obligations under Section D23 and Key Promise 8 of the Customer Owned Banking Code of Practice.

Customer Owned Banking Code Compliance Committee Own Motion Inquiry ‘Privacy’


Insurance Brokers

Insurance Brokers Code Compliance Committee own motion inquiry report ‘Professionalism and competency in the insurance broking industry’, August 2018
An inquiry into how insurance brokers understand professionalism in the context of their Code and apply this within their businesses

Insurance Brokers Code Compliance Committee own motion inquiry report ‘Professionalism and competency in the insurance broking industry’

Insurance Brokers Code Compliance Committee Annual Review 2017-18 ‘Our impact’, August 2018 (PDF, 809KB, 54 pages).
This review assesses insurance brokers’ compliance with the 2014 Insurance Brokers Code of Practice and reports on the impact of the work undertaken by the Insurance Brokers Code Compliance Committee during the period 1 July 2017 to 30 June 2018. 

Insurance Brokers Code Compliance Committee Annual Review 2017-18 ‘Our impact’, August 2018 (PDF, 809KB, 54 pages)

Insurance Brokers Code Compliance Committee presentation at the 2018 NIBA Convention in Hobart, 5 September 2018 
The Insurance Brokers Code of Practice – an update, by IBCCC industry representative David Duffield

Insurance Brokers Code Compliance Committee presentation at the 2018 NIBA Convention in Hobart

2017

Banking

Code Compliance Monitoring Committee Own Motion Inquiry into Provision of Credit

CCMC Special Report: Access to Banking Services by Indigenous Customers

CCMC Report: Improving banks' compliance with direct debit cancellation obligations

Banking Code Compliance Monitoring Committee Annual Compliance Report 2016-17


Customer Owned Banking

Customer Owned Banking Code Compliance Committee Own Motion Inquiry ‘Community Engagement’

Customer Owned Banking Code Compliance Committee Own Motion Inquiry ‘Direct Debit Follow Up’

Customer Owned Banking Code Compliance Committee Annual Compliance Report 2016-17
 

General Insurance

General Insurance Code Governance Committee’s Own Motion Inquiry – Investigation of Claims and Outsourced Services
The Code Governance Committee (CGC) has published an Own Motion Inquiry report that provides an in-depth look at the claims investigation and outsourcing practices of a selection of general insurers who subscribe to the 2014 General Insurance Code of Practice (the Code).

CGC’s ‘Own Motion Inquiry – Investigation of Claims and Outsourced Services’ | View the snapshot

General Insurance Code Governance Committee’s 2015–16 General Insurance Industry Data Report
The General Insurance Code Governance Committee has released its 2015–16 General Insurance Industry Data Report. Data for the report is sourced directly from Code Subscribers and provides a snapshot of the state of play in the general insurance industry for the year 2015–16 about:

  • policies, claims, declined claims, withdrawn claims and internal disputes, and
  • industry-identified non-compliant activity and remedial actions.

General Insurance Code Governance Committee Industry Data Report 2015–16 | View the snapshot
 

Insurance Brokers

Insurance Brokers Code Compliance Committee Own Motion Inquiry ‘Internal Dispute Resolution Process’

Insurance Brokers Code Compliance Committee Annual Review 2016-17

Insurance Brokers Code Compliance Committee 2017 Annual Compliance Statement (ACS) webinar
On 2 February 2018 the Insurance Brokers Code Compliance Committee (the Committee) held a webinar for Code subscribers on how to complete the 2017 Annual Compliance Statement (ACS) for the Insurance Brokers Code of Practice (the Code). The ACS program is a central component of the Committee’s monitoring work. The ACS asks for information about Code subscriber’s compliance frameworks and breach and complaints reporting and monitoring, as well as organisations' overall culture of compliance and examples of good practice. The webinar was designed to assist Code subscribers in completing the ACS by providing examples of effective and reliable breach and complaints reporting. 

An audio copy of the webinar is available here.

A copy of the PowerPoint presentation is available here.

2016

Banking

Banking Practice in Australia 2015–16: CCMC Annual Report
The Code Compliance Monitoring Committee (CCMC) has published Banking Practice in Australia 2015-16. This is the CCMC’s Annual Report and provides details of its work in monitoring compliance with the Code of Banking Practice (the Code) for the period 1 July 2015 to 30 June 2016.

The Report highlights:

  • breaches and significant breaches of the Code self-reported by banks
  • the number of complaints banks dealt with during the year and details of the products and services to which they relate, and
  • the Committee’s work in investigating allegations that banks have breached the Code.

The report also comments on how banks comply with specific clauses of the Code.

An overview of the Annual Report is available on our dedicated microsite www.ccmc.org.au/2016-annual-report/, where you can also download a copy of the full report.
 

Customer Owned Banking

Customer Owned Banking Code Compliance Committee Annual Report 2015-16
 

General Insurance

General Insurance Code Governance Committee’s 2015–16 Annual Report
The General Insurance Code Governance Committee (the Committee) has released its 2015–16 Annual Report. It details the Committee’s compliance monitoring and other activities during the 2015–16 financial year and examines Code Subscribers' compliance with the 2014 General Insurance Code of Practice (the Code).

This year saw the general insurance industry's full transition to the Code which brought new responsibilities for the Committee. Following the Committee’s increased engagement with consumer advocates in 2014-15, more consumer advocates and individual consumers came forward with Code breach allegations in 2015–16. Determining these matters – many of which involved the Code's important new financial hardship provisions – has been a major part of the Committee's work this year.

View the report:  General Insurance Code Governance Committee – General Insurance Code of Practice Annual Report 2015–2016

General Insurance Code Governance Committee’s 2014–15 General Insurance Industry Data Report
The General Insurance Code Governance Committee has released its 2014–15 General Insurance Industry Data Report. Data for the report is sourced directly from Code Subscribers and provides a snapshot of the state of play in the general insurance industry for the year 2014–15 about:

  • policies, claims, declined claims, withdrawn claims and internal disputes, and
  • industry-identified non-compliant activity and remedial actions.

View the report: General Insurance Code Governance Committee – General Insurance Industry Data Report 2014–2015
 

Insurance Brokers

Insurance Brokers Code Compliance Committee Annual Review 2015–16