Code compliance Archives - Page 7 of 13 - Consumers' Federation of Australia

27 June , 2023

“Current rules no longer fit for purpose”: TIO Calls for New Rules to Better Protect Consumers

The Telecommunications Industry Ombudsman (TIO) has released the report ‘A time for change – Three years of systemic investigations in review’, calling for improved consumer protections through stronger regulation in the telco sector, and the establishment of a registration scheme for telcos.

20 June , 2023

Transition Challenges and Opportunities Revealed in Latest COBCCC Report

A report from the Customer Owned Banking Code Compliance Committee (COBCCC) has highlighted the importance of Code subscribers seeking clarity about the new Code’s requirements, mitigating human error through training and continuously evaluating compliance frameworks.

6 June , 2023

FSC to Rollout Changes to Life Insurance Code

From an FSC media release (02/06/2023): The Financial Services Council (FSC) is proud to announce the upcoming implementation of the New Life Code of Practice (new Life Code) on 1 July 2023, which will introduce over 50 comprehensive consumer protections that will change the way customers interact with their life insurers. FSC, CEO, Blake Briggs said: “This significant milestone…

1 June , 2023

eSafety Commissioner Accepts Some, Rejects Others in World-First Industry Codes

Australia’s eSafety Commissioner has made the decision not to register two of eight online safety codes drafted by the online industry as they fail to provide appropriate community safeguards to deal with illegal and harmful content online.

Image 4 April , 2023

IBCCC Publishes its 2021 Annual Data Report: Insurance brokers need to embrace a culture of reporting

From Insurance Brokers Code Compliance Committee 04/04/2023 Media Release. The Insurance Brokers Code Compliance Committee (IBCCC) has urged insurance brokers to recognise the importance of reporting breaches following a concerning finding in its latest Annual Data Report. The IBCCC’s report, which looks at the performance of insurance brokers subscribed to the Insurance Brokers Code of Practice, found…

2 February , 2023

The New Energy Tech Consumer Code (NETCC) is here to raise consumer protection standards

Launched today, the New Energy Tech Consumer Code (NETCC) program seeks to raise consumer protection standards in Australia for purchases of new energy tech, including rooftop solar, battery storage, EV chargers, home energy management systems and more. Australia is a world leader in small-scale renewable energy generation, with over 3 million rooftop solar systems providing…

1 December , 2022

Insurers record an increase in significant breaches of the Code of Practice

A substantial increase in significant breaches of the General Insurance Code of Practice points to a concerning trend among insurers, according to the Annual Report of the General Insurance Code Governance Committee (GICGC) published today. The 2021-22 Annual Report highlights the increase in significant breaches, noting that a large number were related to customers being…

28 November , 2022

Insurance broker company culture producing better outcomes for customers

The Insurance Brokers Code Compliance Committee (IBCCC) has released an Own Motion Inquiry report examining how subscribers to the Insurance Brokers Code of Practice drive good behaviours and encourage a culture of compliance within their organisation. Following the Culture is Key report, published by the IBCCC in November 2021, the Own Motion Inquiry report is…

19 November , 2022

Consumer experiences sought for a new inquiry into guarantees

The Banking Code Compliance Committee (BCCC) wants to hear from people about their experiences acting as a guarantor for a loan, to check whether banks have improved their practices since a BCCC inquiry last year found serious failures. The BCCC monitors banks’ compliance with the Banking Code of Practice, which includes obligations to ensure people…

1 November , 2022

Vulnerable consumers supported by new Code of Practice for customer-owned banks

The Customer Owned Banking Association (COBA) has introduced a new industry Code of Practice that comes into effect today, with changes increasing protections for customers experiencing vulnerability including elder abuse, domestic violence and disability. The 2022 Customer Owned Banking Code of Practice replaces the 2018 version and was developed through an independent review by Phil…

30 October , 2022

COBCCC Annual Report 2021-22

The Customer Owned Banking Code Compliance Committee (COBCCC) has released its latest Annual Report, reporting on its activities during 2021-22. The report notes that self-reported breaches by customer owned banking institutions for the 2020-21 reporting period decreased 11% on the previous year – the first decrease in six years. More than 568,000 customers were affected…

27 October , 2022

BCCC welcomes ABA response to review of Committee’s work

The Banking Code Compliance Committee (BCCC) has welcomed the Australian Banking Association’s announcement that it has accepted most of the recommendations within its remit of the independent review into the BCCC and its work. “These changes will, ultimately, deliver better outcomes for consumers,” BCCC Chair Ian Govey AM said. “They will improve transparency by holding…