Commonwealth Bank welcomes the submission of the new Banking Code of Practice to ASIC for approval.

Submission of the rewritten Code is a major milestone of the Australian Bankers’ Association’s ‘Better Banking Reform’ program.

We have been actively involved in the banking industry’s extensive consultation with community groups, regulators, industry groups and government to develop a Code that is broader, stronger and easier to understand.

The new code will deliver greater transparency and accessibility for consumers and small businesses when considering financial products and services. It will also promote a more prominent commitment to ethical conduct.

We will continue to work closely with all of our stakeholders and eagerly await ASIC’s feedback and approval.

Further information about the Banking Code of Practice can be found here.