Peter Kell appointed to lead 2026 independent review of BCCC
Banking Code Compliance Committee
The Banking Code Compliance Committee (BCCC), the independent body responsible for monitoring banks’ compliance with the Banking Code of Practice, has appointed Peter Kell to conduct an independent review of its operations.
The review will consider the effectiveness of the BCCC’s role in independently monitoring banks’ compliance with the Banking Code of Practice, including its governance, functions and approach to oversight.
Mr Kell is widely regarded as one of Australia’s most experienced consumer protection and financial services regulators, including as a former Deputy Chair of the Australian Securities and Investments Commission and the Australian Competition and Consumer Commission, and former Chief Executive of CHOICE.
BCCC Chair Sean Hughes said the independent review is an important part of ensuring the Committee continues to provide effective and credible oversight of banks’ compliance with the Banking Code of Practice.
“Independent oversight is essential to ensuring the commitments banks make through the Banking Code of Practice translate into real outcomes for customers,” Mr Hughes said.
“This review is an opportunity to take a close look at how the BCCC operates, what is working well and where its approach, powers or arrangements could be strengthened to support effective oversight of the Code.
“The Committee looks forward to contributing to the review and will engage openly and constructively throughout the process. We encourage banks, consumer representatives, regulators and other interested stakeholders to participate in the review and share their experience of the BCCC and its role in the self-regulatory framework.”
Mr Kell will concurrently conduct the Australian Banking Association’s independent review of the Banking Code of Practice.
The two reviews have distinct purposes and will be conducted under separate Terms of Reference. The BCCC sees value in the concurrent approach, particularly for stakeholders who may wish to contribute to both processes, while maintaining the independence and distinct focus of each review.
Further information about the BCCC review, including its Terms of Reference and opportunities to participate, will be available shortly.
About us:
The purpose of the BCCC is to monitor and drive best practice Code compliance.
To do this, it:
- examines banks’ practices
- identifies current and emerging industry-wide problems
- recommends improvements to bank practices
- sanctions banks for serious compliance failures, and
- consults and keeps stakeholders and the public informed.
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