King & Wood Mallesons (KWM) is pleased to have assisted the Australian Banking Association in its development of a new version of its code of practice, which sets a new standard of customer service for Australia’s banks.
KWM’s Banking & Finance team, led by Partner Katherine Forrest and supported by Senior Consultant Hal Bolitho and Senior Associate Chelsea Payne, provided expert advice on new and emerging regulatory issues and responding to the findings of Mike Callaghan AM PSM’s 2021 Independent Review of the Banking Code of Practice.
Commenting on the outcome, Katherine Forrest said:
“The Code sets the standard for relationships of fundamental importance to banks and their customers. KWM has a long history of assisting the ABA with Code reviews, and so it is rewarding to once again work with the ABA in delivering this valuable refresh. We think the revised Code will have real benefits for consumers and also for member banks.”
The new code will come into effect in February 2025.
About KWM
KWM’s Banking and Finance team assists clients to navigate and shape regulatory change, as well as develop and implement innovative finance solutions for sophisticated transactions.
