12 February 2020
Former Australian Government Solicitor Ian Govey AM has been appointed to chair the Banking Code Compliance Committee (BCCC), the independent body that monitors and enforces the new Banking Code of Practice.
The Chair was selected after a thorough recruitment process, jointly run by the Australian Banking Association and the Australian Financial Complaints Authority.
David Locke, CEO AFCA
“The BCCC plays a strategic function in monitoring the effectiveness of the new Banking Code of Practice and shaping good industry practice”
CEO of the Australian Banking Association Anna Bligh said Mr Govey would be a strong, independent chair ensuring that banks are held accountable for the promises made to their customers through the new Banking Code of Practice.
“As part of their commitment to a new Banking Code of Practice which has real teeth, banks have formed a tougher and stronger independent body to monitor and enforce its implementation,” Ms Bligh said.
“The appointment of Ian Govey AM to the role of Chair of the Banking Code Compliance Committee means thoroughly independent oversight ensuring banks implement the new Code as promised,” she said.
CEO of the Australian Financial Complaints Authority David Locke welcomed Mr Govey’s appointment to this important role.
“The BCCC plays a strategic function in monitoring the effectiveness of the new Banking Code of Practice and shaping good industry practice,” Mr Locke said.
“Mr Govey will bring a wealth of experience to the important work of the Banking Code Compliance Committee,” he said.
Mr Govey said, “I’m pleased to accept this appointment and look forward to playing a role in ensuring the Banking Code is strong and effective in protecting the interests of customers.”
Mr Govey replaces Professor Christopher M Doogan AM as Chair of the BCCC. Prof Doogan was also Chair of the predecessor organisation, the Code Compliance Monitoring Committee (CCMC) for a period of 6 years. The ABA and AFCA thank Prof Doogan for his stewardship and contribution over this long period and wish him well for the future.
ENDS
Contact: Rory Grant 0475 741 007
Latest news
The CVA released today will inform future industry efforts in using scenario analysis as a tool for understanding climate change related financial risks.
“A number of our banks actually have maternity leave lending products that are specific to people on parental leave, paid and unpaid, to help them through, what as I said, can be a difficult time.”
The number of micro businesses grew 10% to 1.55 million in the year to June 2022. During the same period, the number of small businesses grew 3% to 955,861 after an extraordinary period of growth during the 2021 financial year, jumping 15% to 931,791.