About the Review

Welcome to the Independent Review of the Code of Banking Practice (the Code) – being conducted by Phil Khoury.  This website will be used to keep interested stakeholders informed about the Review, to invite input and to publish public submissions about the Code.

The Code of Banking Practice is the banking industry’s customer charter on best banking practice standards.  The Code sets out the banking industry’s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their banking services. The Code applies to personal and small business bank customers.

This Review of the Code has been commissioned by the Australian Bankers’ Association (ABA) as part of the range of industry initiatives announced on 21 April 2016 and to be overseen by Mr Ian McPhee – more information is available at the ABA website.

The Terms of Reference for this Review are available via this link.  Broadly the aim of the Review is to identify if the Code is serving its purpose, is meeting reasonable stakeholder expectations and if there are ways of improving its effectiveness.

My role as the  independent reviewer commences on 8 July and I have agreed to provide a Report of the Review by the end of 2016.  My aim is to engage with a wide range of stakeholders and to be as open as practicable about the Review process.

The Review will have two rounds of consultation:

  1. An initial testing of stakeholder  experience with the Code and their views about how it might be improved;
  2. Testing some of the ideas that have emerged, providing an opportunity for stakeholders to comment.

The Terms of Reference for the Review include the review of the Mandate of the Code Compliance Monitoring Committee (CCMC).

A periodic Review of the Code also prompts an independent review of the Code Compliance Monitoring Committee’s activities.  I will be conducting that review to coincide with the Code Review.  See the CCMC Review website for further information.

Initial Submissions

To begin the process, I extend an invitation to interested stakeholders to make a written submission to the Review. You should read the Terms of Reference for the Review and include in your submissions your experience with the Code as it currently operates, the strengths or weaknesses of the Code as you see them and of course any ideas you may have for improvement of the Code.

Submissions should be lodged by 31 August 2016. Submissions will be treated as public and posted on this website – unless you specifically request confidentiality. But I will not post material that I consider is clearly not relevant or may be offensive or defamatory.

Submissions and any input should be sent to banking.code.review@cameronralph.com.au.  If you have any queries about the process, please also address them to the above email and we will do our best to get back to you as soon as we can.

About the Independent Reviewer

Phil Khoury is the principal of CameronRalph Navigator.  He is a former regulator (ex-ASIC) and for the past 17 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.


While Phil will be conducting the Review himself, he will be supported by staff from Cameronralph Navigator.